Survive an IRS audit: be prepared

Tuesday, September 19, 2023
The IRS recently released its audit statistics for the 2022 fiscal year; fewer taxpayers had their returns examined compared to prior years. But even though a small percentage of returns...... Read More

Claiming big first-year real estate depreciation deductions

Monday, September 18, 2023
Your business may be able to claim big first-year depreciation tax deductions for eligible real estate expenditures rather than depreciate them over several years. But should you? It’s not as...... Read More

Quality counts with Receivables

Thursday, September 14, 2023
Accounts receivable are sometimes a sizeable line item on the balance sheet. But is it possible to accept the reported number at face value, or could the truth be more...... Read More

Do you qualify for a Spousal IRA?

Tuesday, September 12, 2023
When one spouse in a married couple is not earning compensation, the couple may not be able to save as much as they need for a comfortable retirement. An IRA...... Read More

DOs and DON’Ts: deducting business meal and vehicle expenses

Monday, September 11, 2023
If you claim deductions for business meals or auto expenses, expect the IRS to review them closely. Sometimes, taxpayers have incomplete documentation or try to create records months (or years)...... Read More

Use timely flash reports to supplement your financial statements

Thursday, September 07, 2023
A corporation or charity's ability to function successfully depends on timely financial information. In today’s dynamic marketplace, you may need to act fast to ward off potential threats and risks —...... Read More

Can seniors deduct Medicare premiums on their taxes?

Tuesday, September 05, 2023
If you’re 65 and older and have basic Medicare insurance, you may need to pay additional premiums to get the coverage you want. The premiums can be costly, especially for...... Read More

Small Business Retirement saving options

Monday, September 04, 2023
There are a few choices to look about if you're thinking about creating a retirement plan for yourself and your staff but are concerned about the cost and administrative requirements...... Read More

Turning receivables into cash

Thursday, August 31, 2023
It’s common for high-growth and seasonal businesses to have occasional shortfalls in their checking accounts. The reason relates to the cash conversion cycle — it takes time to collect on...... Read More

Reduce the impact of the 3.8% net investment tax

Tuesday, August 29, 2023
High-income taxpayers face a regular income tax rate of 35% or 37%. And they may also have to pay a 3.8% net investment income tax (NIIT) that’s imposed in addition...... Read More