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Avoid Scams; Learn How the IRS Contacts Taxpayers

September 27, 2022

The IRS wants taxpayers to be wary of scams where contact is purportedly from the agency.

Seller-paid Points: Can Homeowners Deduct Them?

September 22, 2022

In general, points a BUYER pays in a home sale are a tax-deductible interest expense. But what about SELLER-paid points?

Separating Your Business from Its Real Estate

September 20, 2022

Separating the ownership of a business’s real estate from the business isn’t always advisable. But it might be worthwhile in some situations.

Is Your Income High Enough to Owe Two Extra Taxes?

September 15, 2022

There are two special taxes that may have a significant effect on the tax bills of high-income folks: the 3.8% net investment income tax and a 0.9% additional Medicare tax on wage and self-employment income. Here are the basic rules.

Year-end Tax Planning Ideas for Your Small Business

September 13, 2022

Before you know it, the end of 2022 will be near. Here are some year-end moves to consider that may help your small business save on taxes.

Does Your Trust Provide for the Removal of a Trustee?

September 8, 2022

Removing a trustee can be difficult. Fortunately, there are ways to make it easier without giving too much power to the beneficiaries.

IRS Offers Penalty Relief for 2019, 2020 Tax Years

September 6, 2022

The IRS is providing broad-based penalty relief to most taxpayers who filed certain 2019 and/or 2020 tax returns late due to the COVID-19 pandemic. Find out if you might qualify.

Evaluating an ESOP from a Succession Planning Perspective

September 1, 2022

Business owners: If combining an employee retirement plan with a succession planning vehicle intrigues you, check out an ESOP.

The IRS Hasn’t Yet Released Its 2022-2023 Priority Guidance Plan (a Regulatory To-do List), but Several Items Are Expected to Be on the Agenda.

August 30, 2022

This starts with components of the Inflation Reduction Act.

For a Stronger Nonprofit, Increase the Number of Income Streams

August 25, 2022

The pandemic tested the financial mettle of most nonprofits. If yours has only barely survived the trial, you may need to increase the number of revenue streams feeding into your budget. Here’s how.

The Inflation Reduction Act Was Signed into Law by President Biden on Aug. 16

August 23, 2022

The Inflation Reduction Act was signed into law by President Biden on Aug. 16. The bill comes with a price tag of $740 billion and imposes a new 15% minimum tax on large, profitable corporations. It also adds a 1% excise tax on stock buybacks.

Cyber Risks: A Critical Part of Your Auditor’s Risk Assessment

August 18, 2022

Data breaches are becoming more frequent, aggressive and sophisticated. Here are some shocking statistics from the “Cost of a Data Breach Report 2022,” along with ways your auditor can help evaluate and mitigate your organization’s risk.

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