Are scholarships tax-free or taxable?

Tuesday, January 09, 2024
With the rising cost of college, many families are in search of scholarships to help pay the bills. If your child is awarded a scholarship, you may wonder about how...... Read More

How IRS auditors learn about your business industry

Monday, January 08, 2024
Ever wonder how IRS examiners know about different industries so they can audit various businesses? They generally do research about specific industries and issues on tax returns by using IRS...... Read More

Teaching your accounting staff to master the art of negotiation

Thursday, January 04, 2024
Effective negotiation skills are critical when hiring a CEO or salesperson who deals with major contracts on a regular basis. Yet these skills aren’t necessarily at the forefront when looking...... Read More

The tax implications of renting out a vacation home

Tuesday, January 02, 2024
Many Americans own a vacation home or aspire to purchase one. If you own a second home in a waterfront community, in the mountains or in a resort area, you...... Read More

New per diem business travel rates kicked in on October 1

Monday, January 01, 2024
Are employees at your business traveling and frustrated about documenting expenses? Or perhaps you’re annoyed at the time and energy that goes into reviewing business travel expenses. There may be...... Read More

Ways to speed up your month-end close

Thursday, December 28, 2023
Does your company struggle to close its books at the end of each month? The month-end close requires accounting personnel to round up data from across the organization. This process...... Read More

Casualty loss tax deductions may help disaster victims in certain cases

Tuesday, December 26, 2023
This year, many Americans have been victimized by wildfires, severe storms, flooding, tornadoes and other disasters. No matter where you live, unexpected disasters may cause damage to your home or...... Read More

It’s important to understand how taxes factor into M&A transactions

Monday, December 25, 2023
In recent years, merger and acquisition activity has been strong in many industries. If your business is considering merging with or acquiring another business, it’s important to understand how the...... Read More

4 Ways to Prepare for Next Years Audit

Thursday, December 21, 2023
Every fall, CPAs are busy preparing for audit season, which generally runs from January to April each year. This includes meeting with clients, assigning staff and scheduling fieldwork.Likewise, organizations with...... Read More

What are the tax implications of winning money or valuable prizes?

Tuesday, December 19, 2023
If you gamble or buy lottery tickets and you’re lucky enough to win, congratulations! After you celebrate, be aware that there are tax consequences attached to your good fortune.Winning at...... Read More