There’s a Favorable “Stepped-Up Basis” If You Inherit Property
A common question for people planning their estates or inheriting property is: For tax purposes, what’s the “cost” (or “basis”) an individual gets in […]
Using Financial Statements to Value a Business
The starting point for a business valuation is generally the subject company’s financial statements. Here’s an overview of how historical financial statements can serve […]
Taking Advantage of the Rehabilitation Tax Credit When Altering or Adding to Business Space
If your business occupies substantial space and needs to increase or move from that space in the future, you should keep the rehabilitation tax credit in mind. […]
Paperwork You Can Toss After Filing Your Tax Return
Once you file your 2022 tax return, you may wonder what personal tax papers you can throw away and how long you should retain […]
How Safe Are Your Business’s Paper Checks?
Recently, the Financial Crimes Enforcement Network (FinCEN) told U.S. financial institutions to exercise caution when processing paper checks because they might be fake. Paper checks? Didn’t those […]
Retirement Saving Options for Your Small Business: Keep it Simple
If you’re thinking about setting up a retirement plan for yourself and your employees, but you’re worried about the financial commitment and administrative burdens […]
Tax Rules for Donating Artwork to Charity
If you’re an art collector, you may wonder about the tax breaks available for donating a work of art to charity. Several different tax […]
Benchmarking to Gauge Risk in Business Valuation
Benchmarking — or comparing a company’s financials to those of industry peers and its own historical performance — can provide insight into future cash flows and operating […]
Some Taxpayers Qualify for More Favorable “Head of Household”Tax Filing Status
When preparing your tax return, we’ll check one of the following statuses: Single, married filing jointly, married filing separately, head of household or qualifying widow(er). Filing a […]
How to Outsmart Social Media Scammers
With billions of users worldwide, social media platforms can be a breeding ground for illicit activity — from simple identity theft to sophisticated and […]
