7 Questions to Ask About a Business Valuation Report
Business valuation experts will usually provide formal written reports that explain how they arrived at their conclusions. Asking seven questions can help you determine whether an expert’s […]
Gift Tax Return Basics
Did you make large gifts to your children, grandchildren or other heirs last year? If so, it’s important to determine whether you’re required to file a 2022 […]
That Investment Opportunity Could be a Pyramid Scheme
The “investment opportunity” someone just pitched could be a legitimate way to get in on the ground floor of a soon-to-be profitable business. However, it […]
Changes in Sec. 174 Make it a Good Time to Review the R&E Strategy of Your Business
It’s been years since the Tax Cuts and Jobs Act (TCJA) of 2017 was signed into law, but it’s still having an impact. Several provisions in the […]
Claiming Losses on Depreciated or Worthless Stock
Have you bought stock in a company that later dropped in value? While you may prefer to forget such an ill-fated investment, at least […]
Measuring Fair Value for Financial Reporting Purposes
Fair market value is the appropriate standard of value in most business valuation assignments. But when valuing an asset for financial reporting purposes, fair value is generally […]
The Tax Advantages of Hiring Your Child This Summer
Summer is around the corner so you may be thinking about hiring young people at your small business. At the same time, you may […]
Protect the “Ordinary and Necessary” Advertising Expenses of Your Business
Under tax law, businesses can generally deduct advertising and marketing expenses that help keep existing customers and bring in new ones. This valuable tax deduction can help […]
IRS Issues Guidance Related to the New Clean Vehicle Critical Mineral and Battery Components
As appearing in IRS Newswire IR-2023-64
The Internal Revenue Service just issued a proposed regulation […]
Awarded Money in a Lawsuit or Settlement? It’s Only Tax-Free in Certain Circumstances
You generally must pay federal tax on all income you receive but there are some exceptions when you can exclude it. For example, compensatory […]
