Returning Value Blog

In the midst of holiday parties and shopping for gifts, don’t forget to consider steps to cut the 2023 tax liability for your business. You still have time to take advantage of a few opportunities.

As year-end nears, many businesses and nonprofits are planning for 2024. QuickBooks® provides budget and forecast features to help management make financial predictions, as well as assess “what if” scenarios to help make more informed business decisions. Here’s how you can use these tools for your year-end financial planning.

In May 2023, state lawmakers passed a plan that calls for residents to receive a tax rebate. The state has a surplus, which means rebates for millions of state taxpayers.

With rising interest rates, inflation, and continuing market volatility, tax planning is as essential as ever for taxpayers looking to manage cash flow while paying the least amount of taxes possible over time. As we approach year-end, now is the time for individuals, business owners, and family offices to review their 2023 and 2024 tax situations and identify opportunities for reducing, deferring, or accelerating their tax obligations.

If you are in the market for a new (not used) electric vehicle this holiday season, you may delay your purchase until 2024.

On August 30, 2023, the U.S. Department of Labor (DOL) released a proposal to raise the minimum weekly salary. 

Data is the lifeblood of any modern organization — a critical asset that is not only used to operate the business but can also fuel innovation, reduce costs, and increase revenue. But managing data assets effectively comes with a set of challenges that can be difficult for organizations to navigate. Creating an effective data governance policy can help organizations mitigate risk and capitalize on opportunities.

On September 6, the Financial Accounting Standards Board (FASB) unanimously voted to finalize new accounting rules on cryptocurrency assets — less than five months after the proposed standard was issued for public comment. Here’s what companies that hold these assets should know.

In most cases, employees anticipate receiving a raise after working a certain amount of time at your firm — usually six months to a year. Top performers who consistently exceed expectations expect to be paid a salary that reflects their hard work and level of responsibility. You look to offer competitive compensation to retain your best workers.

Are employees at your business traveling and frustrated about documenting expenses? Or perhaps you’re annoyed at the time and energy that goes into reviewing business travel expenses. There may be a way to simplify the reimbursement of these expenses. In Notice 2023-68, the IRS announced the fiscal 2024 special “per diem” rates that became effective October 1, 2023. Taxpayers can use these rates to substantiate the amount of expenses for lodging, meals, and incidentals when traveling away from home. (Taxpayers in the transportation industry can use a special transportation industry rate.)