California AB-150 Provides SALT Cap Work-Around
While Congress develops legislation that would eliminate, and/or otherwise mitigate, the current TCJA implemented state and local tax (SALT) limit on […]
“Stepped-Up Basis” on Inherited Property – Will it Last?
If you’re planning your estate, or you’ve recently inherited assets, you may be unsure of the “cost” (or “basis”) for tax purposes.
Preventing Fraud in your Construction Company
Fraud is costly for all victimized companies, but it’s even worse in the construction sector. According to the Association of Certified Fraud Examiners’
How New Business Start-up Expenses are Handled on your Tax Return
Despite the COVID-19 pandemic, government officials are seeing a large increase in the number of new businesses being launched. From June 2020 through June 2021, the U.S. […]
Can Taxpayers Who Manage Their Own Investment Portfolios Deduct Related Expenses?
Do you have significant investment-related expenses, including the cost of subscriptions to financial services, home office expenses and clerical costs? Under current tax law, these expenses aren’t […]
Who in your Business Can Be Hit with the “Trust Fund Recovery Penalty”?
There’s a harsh tax penalty that you could be at risk for paying personally if you own or manage a business with employees. It’s […]
Prevent Conflicts of Interest from Costing Your Business
Without trust between you and your employees, your business probably wouldn’t be very successful. Delegating responsibility, sharing ideas, working as a team — all […]
How Fraud Perpetrators Target Military Personnel and Veterans
According to the Federal Trade Commission, veterans lost approximately $60 million to fraud in 2020. Active-duty military personnel and their spouses and dependents also suffered […]
10 Facts About the Pass-Through Deduction for Qualified Business Income
Are you eligible to take the deduction for qualified business income (QBI)? Here are 10 facts about this valuable tax break, referred to as the pass-through deduction, […]
IRS Audits May Be Increasing, So Be Prepared
The IRS just released its audit statistics for the 2020 fiscal year and fewer taxpayers had their returns examined as compared with prior years. […]
