3 Types of Due Diligence to Consider Prior To Buying A Business
There is no single process that everybody follows when purchasing a business, and many factors determine whether a business, once bought, will ...
IRS Provides Transitional Relief for RMDs and Inherited IRAs
The IRS has issued new guidance providing transitional relief related to recent legislative changes to the age at which taxpayers must begin taking ...
Starting A Business? How Expenses Will Be Treated on Your Tax Return
Government officials saw a large increase in the number of new businesses launched during the COVID-19 pandemic. And the U.S. Census Bureau reports ...
That Email or Text from the IRS: It's A Scam!
“Thousands of people have lost millions of dollars and their personal information to tax scams,” according to the IRS. The scams may come in through ...
Why Some Small Businesses Are Switching to Tax-Basis Reporting
Accrual-basis financial statements are considered by many to be the gold standard in financial reporting. But with the increasing cost and complexity ...
The Best Way to Survive an IRS Audit Is to Prepare
The IRS recently released its audit statistics for the 2022 fiscal year and fewer taxpayers had their returns examined as compared with prior years. ...
Individuals Who Travel for Business May Be Eligible for Tax Deductions
Many people travel for their job — some for an occasional conference and some travel year-round. Whatever their time on the road, business travelers ...
Tax Concerns for Self-Employed Individuals
The composition of today’s workforce has evolved significantly compared to a decade or two ago. With the emergence of the gig economy in the early ...
IRS Sends Examination Letters About ERC Claims: What You Should Know
As they’ve promised, the IRS is stepping up enforcement of ERC claims and sending out examination letters to companies who claimed ERC credits in ...