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Strategic Gift Giving to Beneficiaries

The IRS raised the gift tax allowance for 2023, up $1,000 from last year, to adjust for inflation. Individuals can provide a tax-free gift, whereby no filing is required, of $17,000 per recipient annually. While the greatest gift may be that of financial giving, the IRS wants its cut of …

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Did You Really Qualify For PPP?

Did you receive money through the Paycheck Protection Plan that you’re not entitled to? There are ramifications if you actually do not qualify. The section, below, from a SBA document provides the answer. Question: Do businesses owned by large companies with adequate sources of liquidity to support the business’s …

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