Moving Mom or Dad into a Nursing Home? 5 Potential Tax Implications
More than a million Americans live in nursing homes, according to various reports. If you have a parent entering one, you’re probably not thinking ...
How Outsourced Accounting Can Elevate Your Accounting Structure
Building a successful business over time takes consistency and dedication. Your team and day-to-day accounting operations are working well to deliver ...
Pocket a Tax Break for Making Energy-efficient Home Improvements
According to the National Weather Service, an estimated 190 million Americans have recently been under heat advisory alerts. That may have spurred ...
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. ...