4.1.25
The Tax Side of Gambling
Whether you’re a casual or professional gambler, your winnings are taxable. However, the Treasury Inspector General for Tax Administration reports that gambling income is vastly…
4.1.25
Payroll Fraud Threats Inside and Outside Your Company
Payroll fraud schemes can be costly. According to a 2024 Association of Certified Fraud Examiners (ACFE) study, the median loss generated by payroll fraud incidents…
4.1.25
Tax Records: What Can You Toss and What Should You Keep?
If you’ve filed your 2024 tax return, you may be eager to do some spring cleaning, starting with tax-related paper and digital clutter. The documentation…
3.31.25
Are You a Tax-Favored Real Estate Professional?
For federal income tax purposes, the general rule is that rental real estate losses are passive activity losses (PALs). An individual taxpayer can generally deduct…
3.24.25
Six Essential Tips for Small Business Payroll Tax Compliance
Staying compliant with payroll tax laws is crucial for small businesses. Mistakes can lead to fines, strained employee relationships and even legal consequences. Below are…
3.20.25
Beneficial Ownership Information Reporting Requirements Suspended for Domestic Reporting Companies
The twisty journey of the Corporate Transparency Act’s (CTA’s) beneficial ownership information (BOI) reporting requirements has taken yet another turn. Following a February 18, 2025,…
3.17.25
Disaster Victims May Qualify for Tax Relief … Including on Amended Returns
Victims of presidentially declared disasters in recent years who couldn’t previously claim a casualty loss deduction may now be able to claim a refund. Additional…
3.10.25
Choosing an Entity for Your Business? How About an S Corporation?
Are you starting a business with partners and deciding on the right entity? An S corporation might be the best choice for your new venture.…
3.7.25
Element of Surprise a Valuable Asset in Fraud Prevention
There’s nothing quite like the element of surprise when trying to get to the core of an issue. When we’re not expecting something to happen,…
3.7.25
BEC Fraud: How To Protect Your Business From a Growing Threat
Business email compromise (BEC) has emerged as one of the most financially damaging online crimes. According to the FBI’s Internet Crime Complaint Center (IC3), organizations…