Treasury and IRS recently issued final regulations on the “No Tax on Tips” deduction. These regulations list more than 70 occupations from tipped workers, to bartenders and water taxi operators. Qualified tips must meet these requirements: Must be received from...
The One Big Beautiful Bill Act (OBBBA) has been getting a lot of attention—especially for its promise of tax relief on overtime and tips. But for small business owners, the real impact goes far beyond taxes. While there are some potential benefits, the day-to-day...
For years, the number $600 has been etched into the minds of every church administrator and nonprofit executive. It was the magic threshold that triggered a flurry of year-end paperwork for every guest speaker, specialized consultant, and local repairman who helped...