More Parents May Owe “Nanny Tax” This Year
In the COVID-19 era, many parents are hiring nannies and babysitters because their daycare centers and summer camps have closed. This means that more […]
Journal Entries May Signal Financial Statement Fraud
With a median loss of $954,000, financial statement fraud is the costliest type of white-collar crime, according to the Association of Certified Fraud Examiners. Fortunately, auditors and […]
Tax Implications of Employer-Provided Life Insurance
Does your employer provide you with group term life insurance? If so, and if the coverage is higher than $50,000, this employee benefit may […]
Employers Have Questions About FICA Deferrals
The IRS has provided guidance to employers regarding the recent presidential action to allow employers to defer the withholding, deposit and payment of certain […]
What Happens When You Can’t Pay Your Taxes?
While you probably don’t have any problems paying your tax bills, you may wonder: What happens in the event you can’t pay your taxes […]
How to Protect Your Investment Accounts from Fraud
Because the average investment account boasts a much larger balance that a typical checking or savings account, cybercriminals are particularly interested in hacking them. Financial institutions are […]
Filing Cash Transaction Reports for Your Business
Does your business receive large amounts of cash or cash equivalents? You may be required to begin filing cash transaction reports with the IRS […]
Stepped-Up Basis of Inherited Property
If you’re planning your estate, or you’ve recently inherited assets, you may be unsure of the “cost” (or “basis”) for tax purposes. Generaly, there […]
Are Scholarships Tax-Free or Taxable?
COVID-19 is changing the landscape for many schools this fall. But many children and young adults are going back, even if it’s just for online learning, and […]
Back-to-School Tax Breaks
Despite the COVID-19 pandemic, students are going back to school this fall, either remotely, in-person or under a hybrid schedule. In any event, parents may be eligible for certain […]
