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On December 28, 2022, the New Hampshire Department of Revenue Administration (DRA) released the new Business Profits Tax (BPT) and Business Enterprise Tax (BET) filing threshold in TIR 2022-006.  The following are the new requirements for the taxable periods beginning January 1, 2023:
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In the most recent issue of NH Business Review Mason + Rich answers some questions affecting business tax owners this year. 

Q: What are some of the new tax regulations that NH businesses will encounter this year?

 Mallory Vincent, CPA, MBA •

​FASB ASC 842, Leases, has changed the way private companies account for leases by replacing the US GAAP standard under ASC 840. In Part I of this blog, we focused on planning for this new standard by doing the following: 1) locating all your lease contracts and documents and get them signed, if required; 2) creating an implementation team to perform a completeness review to ensure all leases have been identified, and 3) reviewing internal controls and set up a process for accumulating lease information. Now that ASC 842 is here, it is time to put that planning to use. How, you may ask? Well, let’s start by answering some commonly asked questions.

Tax season is coming up fast.  Soon enough, we’ll all be receiving our annual tax forms in the mail.  Like many of us, you’ll probably want to send the information over to your accountant as you receive it, or even start your filing process before you have all your forms.  However, this may not be the best thing to do.  So when should you send in your information?

​The Internal Revenue Service issued the 2023 optional standard mileage rates used to calculate the deductible costs of operating an automobile for business, charitable, medical or moving purposes.
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