Fully Deduct Business Meals This Year
The federal government is helping to pick up the tab for certain business meals. Under a provision that’s part of one of the COVID-19 relief laws, the […]
Do Valuation Discounts Apply to Compulsory Shareholder Buyouts?
Valuation discounts for lack of control and marketability are major points of contention when companies or controlling shareholders are required to buy out shareholders […]
5 Ways to Foil a “Fraud Department” Scam
When banks detect suspicious activity in a customer’s account, they often call account holders to discuss the transactions. Time is of the essence when it comes to […]
The Ins and Outs of IRAs
Traditional IRAs and Roth IRAs have been around for decades and the rules surrounding them have changed many times. What hasn’t changed is that they can help […]
Keeping Meticulous Records is the Key to Tax Deductions and Painless IRS Audits
If you operate a business, or you’re starting a new one, you know you need to keep records of your income and expenses. Specifically, […]
How Cash Flow Statements Help Experts Find Fraud
Many fraud investigations focus on financial statements. Because cash is the most commonly stolen business asset, fraud experts regularly scrutinize statements of cash flow for signs of […]
Tax Rules of Renting out a Vacation Property
Summer is just around the corner. If you’re fortunate enough to own a vacation home, you may wonder about the tax consequences of renting […]
Looking Beyond the Financials for Clues to a Business’s Value
An experienced business valuation professional considers more than just a company’s financial statements when quantifying its value. The professional conducts detailed interviews and asks […]
Ways Your Business Can Accelerate Taxable Income and Defer Deductions?
Typically, businesses want to delay recognition of taxable income into future years and accelerate deductions into the current year. But when is it prudent to do the […]
What to Do When Your Identity is Used to File a Fraudulent Tax Return
In Fact Sheet 2022-25, the IRS has provided information about how taxpayers should handle non-tax and tax-related identity theft.
When a taxpayer believes their […]
