Companies work with thousands of third parties on a daily basis. And whether that company is a small start-up or a large corporation, relationships with these third parties can significantly impact a business.

With the midterm elections now behind us and control of the U.S. Senate set to shift parties in January, it’s time to revisit the valuable tax breaks that expired at the end of 2013. Will the lame-duck 113th Congress revive any of them for 2014?

Many non-U.S. companies conduct limited business activities in the United States and may be protected from federal income tax liabilities due to a foreign tax treaty. However, contrary to conventional wisdom, many states do not adhere to these treaties.

The long-term capital gains rate is 0% for gain that would be taxed at 10% or 15% based on the taxpayer’s ordinary-income rate. If you have loved ones in the 0% bracket, you may be able to take advantage of it by transferring appreciated assets to them.

Under the ACA, large employers risk a penalty if they don’t offer affordable, “minimum essential” health care coverage to their full-time employees. In September, the IRS released Notice 2014-49 to propose approaches for identifying those full-time employees in situations where the measurement period applicable to an employee changes.

Responding to risks and lowering vulnerabilities enables an organization to sustain itself and thrive amidst the continual internal and external challenges it faces.

Typically, it’s better to defer tax. Check out two timing strategies that can help businesses do this.

Any M&A deal experiences tensions — regardless of how well negotiations seem to be progressing. But sellers should keep in mind that at certain points during the transaction the sale is more likely to unravel.

As part of its continuing effort to combat financial reporting fraud, the Public Company Accounting Oversight Board (PCAOB) recently issued Release No. 2014-002, which adopted Auditing Standard No. 18, Related Parties, and amended certain existing standards.

A fundamental tax planning strategy is to accelerate deductible expenses into the current year. This typically will defer — and in some cases permanently reduce — your taxes. But there are exceptions. One is if the additional deductions this year trigger the alternative minimum tax (AMT).