Is a Health Savings Account right for you?
Given the escalating cost of health care, there may be a more cost-effective way to pay for it. For eligible individuals, a Health...
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Sep 30, 20212 min read
M&A transactions: Be careful when reporting to the IRS
Low interest rates and other factors have caused global merger and acquisition (M&A) activity to reach new highs in 2021, according to...
Sep 30, 20212 min read
Opening a new location calls for careful planning
The U.S. economy has been nothing short of a roller-coaster ride for the past year and a half. Some industries have had to overcome...
Sep 27, 20213 min read
Selling a home: Will you owe tax on the profit?
Many homeowners across the country have seen their home values increase recently. According to the National Association of Realtors, the...
Sep 27, 20213 min read
Tax depreciation rules for business automobiles
If you use an automobile in your trade or business, you may wonder how depreciation tax deductions are determined. The rules are...
Sep 20, 20212 min read
Think like a lender before applying for a business loan
Commercial loans, particularly small business loans, have been in the news over the past year or so. The federal government’s Paycheck...
Sep 20, 20213 min read
Planning for year-end gifts with the gift tax annual exclusion
As we approach the holidays and the end of the year, many people may want to make gifts of cash or stock to their loved ones. By properly...
Sep 20, 20212 min read
Claiming a theft loss deduction if your business is the victim of embezzlement
A business may be able to claim a federal income tax deduction for a theft loss. But does embezzlement count as theft? In most cases it...
Sep 8, 20212 min read
Want to find out what IRS auditors know about your business industry?
In order to prepare for a business audit, an IRS examiner generally does research about the specific industry and issues on the...
Sep 8, 20212 min read
5 questions to ask about your marketing efforts
For many small to midsize businesses, spending money on marketing calls is a leap of faith that the benefits will outweigh the costs....
Sep 8, 20212 min read
You can only claim a casualty loss tax deduction in certain situations
In recent weeks, some Americans have been victimized by hurricanes, severe storms, flooding, wildfires and other disasters. No matter...
Aug 30, 20212 min read
Expanding succession planning beyond ownership
Business owners are regularly urged to create and update their succession plans. And rightfully so — in the event of an ownership change,...
Aug 30, 20212 min read
Scholarships are usually tax free but they may result in taxable income
If your child is fortunate enough to be awarded a scholarship, you may wonder about the tax implications. Fortunately, scholarships (and...
Aug 24, 20213 min read
Getting a divorce? Be aware of tax implications if you own a business.
If you’re a business owner and you’re getting a divorce, tax issues can complicate matters. Your business ownership interest is one of...
Aug 24, 20212 min read
IRS additional guidance addresses COBRA assistance under ARPA
In Notice 2021-46, the IRS recently issued additional guidance on the COBRA premium assistance provisions of the American Rescue Plan Act...
Aug 24, 20212 min read
Does your employer provide life insurance? Here are the tax consequences:
Employer-provided life insurance is a coveted fringe benefit. However, if group term life insurance is part of your benefit package, and...
Aug 20, 20212 min read
Possible tax consequences of guaranteeing a loan to your corporation
What if you decide to, or are asked to, guarantee a loan to your corporation? Before agreeing to act as a guarantor, endorser or...
Aug 16, 20212 min read
Large cash transactions with your business must be reported to the IRS
If your business receives large amounts of cash or cash equivalents, you may be required to report these transactions to the IRS. What...
Aug 16, 20212 min read
ABLE accounts may help disabled or blind family members
There may be a tax-advantaged way for people to save for the needs of family members with disabilities — without having them lose...
Aug 9, 20212 min read
Tax-favored ways to build up a college fund
If you’re a parent with a college-bound child, you may be concerned about being able to fund future tuition and other higher education...
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