News by MHCS

Figuring Out Your Business Taxes

Jan 05, 2022

The type of business will determine the type of taxes that will be required to be remitted. Income Taxes You know this tax — it gives the government a share of your net income. Generally, all busine...

Learn More

Deciding Whether Contractors Can Claim R&D Benefits

Dec 28, 2021

Of particular relevance to contractors is the research and development tax credit, which is a tax incentive program. Also known as the research and experimentation tax credit or the research tax credi...

Learn More

The Building Blocks - December 2021

Dec 21, 2021

Happy Holidays! The latest edition of The Building Blocks is here. In this edition, we discuss ERC relief, the upcoming January tax deadline for businesses, four technologies changing how brokerages r...

Learn More

Carried Interests Undergo Significant Tax Treatments

Dec 21, 2021

Carried interests, partnership interests held in connection with the performance of services, will undergo significant reporting and taxation treatment this year. When Section 1061 was added to the ta...

Learn More

The Production Line - December 2021

Dec 16, 2021

The newest edition of The Production Line is here! In this edition, we highlight the upcoming January tax deadline, payroll tax rates and contribution limits for 2022, outsourced CFO services, and IRS...

Learn More

Business Deductions: A Quick Review

Dec 14, 2021

You have a lot of expenses when running a business. Are any of them deductible? To begin with, a deductible business expense must be both ordinary and necessary. An ordinary business expense is one ...

Learn More

Figuring Out Contractor Tax Breaks

Dec 09, 2021

The IRS has rules for everything — contractor contracts included. Those in the contractor industry would do well to review IRS guidance and make sure they're in full compliance, and understand that th...

Learn More

Overwhelmed by Manufacturing Tax Credits

Dec 07, 2021

Tax credits and deductions can allow your company to save money, improve production quality and increase revenue. But with a lot of information available about a variety of programs, it can be difficu...

Learn More

Managing Tax Rules for Part-Time or Seasonal Help

Dec 02, 2021

As an employer, you normally have to file a quarterly Form 941 to report your employees' wages and withholding. Each quarter, if you pay wages subject to income tax withholding (including withholding...

Learn More

The Building Blocks - November 2021

Nov 23, 2021

The latest edition of The Building Blocks is here! In this edition, we discuss compliance changes to carried interests, R&D tax credits for contractors, tax rules for part time and seasonal help, busi...

Learn More