Author name: Cecilia Gulizia

What Is the Employee Retention Credit? The ERC allows eligible taxpayers to claim a refundable payroll tax credit based on “qualified wages” paid to employees during certain periods between March 13, 2020 and December 31, 2021. The amount of the credit is equal to 50% of the qualified wages, up to a maximum of $10,000 […]

Potential Risks of Tech Acceleration Here are some of the potential risks associated with rapid tech acceleration: Security vulnerabilities: Advanced technologies are still nascent and often come with several undetected security flaws. Hackers can exploit these weaknesses to steal your data or launch a cyberattack. Pro tip: Make security assessments a standard practice before implementing

What Is the R&D Payroll Credit? The R&D payroll credit was first offered by the IRS as a means of incentivizing businesses to funnel more money into research, development and innovation. Specifically, this nonrefundable tax credit makes it possible for some businesses to reduce their tax liability dollar-for-dollar. Likewise, this credit offers approximately 13 cents

Top business benefits of partnering with a great IT service provider Partnering with a great IT service provider can bring numerous benefits to your business, including: Strategic alignment Great IT service providers not only possess a deep understanding of current technologies but also have the foresight to anticipate future trends. They work closely with your

Medical Expense Deductions For dependents with medical expenses that have not been reimbursed by an insurance plan, deductions may be available. Specifically, medical expense deductions are available for qualifying medical expenses that exceed 7.5% of a caregiver’s adjusted gross income (AGI). Generally, this deduction is most useful for those who have accumulated significant medical expenses

Who Is Entitled to Overtime Pay? Section 7 of the FLSA states rather broadly that employers must pay employees time-and-a-half for work above 40 hours per week. This applies to all employees unless they fall under an exemption identified in § 13 of the statute. What Is the EAP Exemption? Section 13(a)(1) of the FLSA

More About the Scam  In May of 2024, the IRS issued a consumer alert to inform taxpayers about a series of scams that has reportedly led thousands of taxpayers to file fraudulent credit claims on their tax returns. In most cases, taxpayers were led to believe that they were eligible for these credits by so-called

What is a Health Savings Account? Congress first created HSAs in 2003, and they became available in tax year 2004. The Medicare Prescription Drug, Improvement, and Modernization Act of 2003 added a new § 223 to the Internal Revenue Code (IRC) defining HSAs. Who is eligible for Health Savings Accounts? A taxpayer must be enrolled

How hackers use AI Here are some of the ways cybercriminals are exploiting AI: Deepfakes: Hackers use AI to create highly realistic fake videos or audio recordings to impersonate someone you know, like your boss or a trusted friend. These deepfakes can be used to trick you into sending money or sharing sensitive information. How

Here’s how you can get started 1. Keep data safe with Encryption Strong encryption ensures your cloud data remains secure. 2. Make a clear set of rules Establish a clear set of rules that define who can access data, how it’s used and where it’s stored. 3. Set up access controls Implement steps like multifactor