Cash Payments Over $10,000 Must Be Reported Online Beginning 1/1/2024
As reported in IRS News Release IR-2023-157
The Internal Revenue Service announced that starting 1/1/2024, businesses are required to electronically file […]
Pocket a Tax Break for Making Energy-Efficient Home Improvements
An estimated 190 million Americans have recently been under heat advisory alerts, according to the National Weather Service. That may have spurred you to think about making […]
The Advantages of Using an LLC for your Small Business
If you operate your small business as a sole proprietorship, you may have thought about forming a limited liability company (LLC) to protect […]
Protecting Your Business While Using AI
Have you ever wondered whether the photo or video you’re viewing, the audio you’re listening to or the article you’re reading is real? Artificial intelligence (AI) can […]
Moving Mom or Dad into a Nursing Home? 5 Potential Tax Implications
More than a million Americans live in nursing homes, according to various reports. If you have a parent entering one, you’re probably not […]
Identifying and Avoiding Business Valuation Pitfalls
Do-it-yourself business valuations and the use of unqualified financial experts can increase the odds of making an error, misstatement or erroneous deviation from customary valuation practice. These […]
A Tax-Smart Way to Develop and Sell Appreciated Land
Let’s say you own highly appreciated land that’s now ripe for development. If you subdivide it, develop the resulting parcels and sell them […]
Retirement Account Catch-Up Contributions Can Add Up
If you’re age 50 or older, you can probably make extra “catch-up” contributions to your tax-favored retirement account(s). It is worth the trouble? Yes! Here are the rules of […]
Corporate Officers or Shareholders: How Should You Treat Expenses Paid Personally?
If you play a major role in a closely held corporation, you may sometimes spend money on corporate expenses personally. These costs may […]
How Secure is Your Accounts Receivable Department?
Asset misappropriation schemes make up more than half of all occupational fraud schemes, according to the Association of Certified Fraud Examiners. It’s a […]
