7.29.20
Watch Out! Organized Crime Has Adapted Just Fine To COVID-19
Unlike some legitimate businesses, organized crime enterprises can be expected to weather the current COVID-19 crisis. In fact, with millions of Americans now working from…
7.29.20
Installment Sales May Attract Property Buyers
Because of this year’s unforeseen economic slowdown, many businesses and individuals are unexpectedly looking for liquidity. One way to raise cash is to sell off…
7.28.20
Charitable Giving in a Time of Crisis
The sudden and severe impact of the novel coronavirus (COVID-19) pandemic has created much financial stress, but the crisis has also generated an intense need…
7.28.20
Don’t Forget About the Payroll Tax Credit
For many businesses, retaining employees has been difficult, if not impossible. If your company has been able to keep all or some of its workers,…
7.28.20
Protecting Yourself From Opportunistic Fraud
The novel coronavirus (COVID-19) crisis has spurred much confusion and unprecedented economic challenges. It has also created ample opportunities for dishonest individuals and criminal organizations…
7.27.20
Why Do Partners Sometimes Report More Income on Tax Returns Than They Receive in Cash?
If you’re a partner in a business, you may have come across a situation that gave you pause. In a given year, you may be…
7.27.20
How Fraud Perpetrators Are Stealing Unemployment Benefits
When Congress authorized an additional $600 in monthly unemployment benefits as part of the CARES Act, out-of-work Americans weren’t the only ones it helped. Criminals…
7.13.20
Businesses: Get Ready for the New Form 1099-NEC
There’s a new IRS form for business taxpayers that pay or receive nonemployee compensation. Beginning with tax year 2020, payers must complete Form 1099-NEC, Nonemployee…
7.6.20
Steer Clear of the Trust Fund Recovery Penalty
If you own or manage a business with employees, you may be at risk for a severe tax penalty. It’s called the “Trust Fund Recovery…
7.1.20
IRS Guidance Provides RMD Rollover Relief
The CARES Act was enacted in an attempt to mitigate the economic effects of the COVID-19 pandemic. Among other things, it extends favorable tax treatment…