Understanding the Most Common IRS Notices
For many taxpayers, receiving a letter from the IRS can feel intimidating. The envelope arrives with the IRS seal, and immediately, worry sets in: Did I make […]
Blockage Discounts: Size Counts in Certain Stock Valuations
When valuing large blocks of publicly traded stock, business valuation professionals sometimes apply a “blockage discount.” This adjustment reflects the decrease in the per-share value of a […]
7 Ways to Fight Friends-and-Family Discount Abuse
Small businesses often discount their products and services for employees, friends, family and loyal customers. Unfortunately, these well-meaning practices can lead to misuse, […]
Tax Court Case Provides Lessons on Best Recordkeeping Practices for Businesses
Running a successful business requires more than delivering great products or services. Behind the scenes, meticulous recordkeeping plays a crucial role in financial health, compliance and tax […]
IRS Announces Availability of Work Opportunity Tax Credit Through 2025
As appears in IRS Tax Tip 2025-60
Finding a job can be a challenge and for certain groups, it can be […]
The Power of Catch-Up Retirement Account Contributions After 50
Are you age 50 or older? You’ve earned the right to supercharge your retirement savings with extra “catch-up” contributions to your tax-favored retirement account(s). And these contributions […]
Receive $10,000 in Cash at your Business? The IRS Wants to Know About It
Does your business receive large amounts of cash or cash equivalents? If so, you’re generally required to report these transactions to the IRS […]
Receive $10,000 in Cash at your Dealership? The IRS Wants to Know About It
Does your dealership receive large amounts of cash or cash equivalents? If so, you’re generally required to report these transactions to the IRS […]
Beware of Potential Pitfalls When Valuing a Business under the Income Approach
Valuing a business using the income approach may seem straightforward: Estimate future earnings and apply a risk-based discount rate to calculate present value. In practice, however, it’s […]
Payroll Tax Implications of New Tax Breaks on Tips and Overtime
Before the One Big Beautiful Bill Act (OBBBA), tip income and overtime income were fully taxable for federal income tax purposes. The new […]
