News

Preventing fraud from costing your company can sometimes seem like a game of whack-a-mole: Squash one scheme and another one pops up. Business service scams are particularly abundant. Fraud perpetrators know that business owners don’t always have time to verify the identities of salespeople or service reps and the legitimacy of their claims.

2019 IRA contributions can be made until the tax filing deadline of April 15, 2020. Good news, the contribution limit increased in 2019 by $500 to $6000. Those age 50 and older can contribute an additional “catch-up” contribution of $1000 for a total of $7000.

Audit season is right around the corner for calendar-year entities. Here’s what your auditor is doing behind the scenes to prepare — and how you can help facilitate the audit planning process.

While you were celebrating the holidays, you may not have noticed that Congress passed a law with a grab bag of provisions that provide tax relief to businesses and employers. The “Further Consolidated Appropriations Act, 2020” was signed into law on December 20, 2019. It makes many changes to the tax code, including an extension (generally through 2020) of more than 30 provisions that were set to expire or already expired.

The end of one year and the beginning of the next is a great opportunity for reflection and planning. Here are five ways to strengthen your business for the new year by doing a little of both.

Nonprofit board members who personally profit from decisions they’ve made or influenced risk the exempt status of their organizations. Learn how to avoid violating private benefit and inurement provisions.

The 2020 Form W-4, Employee's Withholding Certificate, is very different from previous versions. This is due to the federal tax law changes that took place in 2018. The Internal Revenue Service (IRS) is not requiring all employees to complete the revised form and has designed the withholding tables so that they will work with both the new and prior year forms.

Does your current internal audit approach take advantage of electronic recordkeeping? Learn the benefits of upgrading your audit program to match today’s technology.

The affordability of a college education is seemingly out of reach for many Americans: in-state tuition and fees at public universities have increased by a staggering 237 percent over the course of the past 20 years. Choosing an appropriate savings plan may make a big difference.

Have you cashed in some investment gains in 2019? You may be looking for unrealized losses in your portfolio so you can sell those investments to offset your gains before year end. This can reduce your tax liability. But don’t run afoul of this rule.

Balance sheets and income statements get all the attention. But the less popular statement of cash flows can be a powerful management tool, if you know how to interpret it…

Cost segregation studies can yield substantial benefits, but they’re not right for every business. Learn more about how this strategy can help accelerate depreciation deductions on the building that houses your operation.