6.7.21
Recordkeeping DOs and DON’Ts for Business Meal and Vehicle Expenses
If you’re claiming deductions for business meals or auto expenses, expect the IRS to closely review them. In some cases, taxpayers have incomplete documentation or…
6.1.21
Cash Talks — And Fraud Experts Are Listening
Fraud perpetrators take whatever they can get their hands on. But they generally prefer cash because it’s virtually untraceable. Fortunately, fraud experts have the expertise…
6.1.21
Worker Classification is Still Important
Over the last year, many companies have experienced “workforce fluctuations.” If your business has engaged independent contractors to address staffing needs, be careful that these…
6.1.21
Considering a Roth IRA Conversion
Investors have long grappled with the conundrum of whether to opt for a traditional or Roth IRA. One factor that might tip the scales toward…
6.1.21
How the CAA Affects Education Funding
The Consolidated Appropriations Act (CAA), signed into law late last year, contains a multitude of provisions that may affect individuals. For example, if you’re planning…
6.1.21
Should an LLC Hold Your Vacation Home?
If you share a vacation home with family members, holding it in a limited liability company (LLC) is one option that offers several important benefits.…
6.1.21
Five Steps to Establish When Starting a New Business
While the pandemic has forced many businesses to close, it has also created a multitude of opportunities for the creation of new businesses entering the…
5.24.21
The IRS Has Announced 2022 Amounts for Health Savings Accounts
The IRS recently released guidance providing the 2022 inflation-adjusted amounts for Health Savings Accounts (HSAs). Fundamentals of HSAs An HSA is a trust created or…
5.17.21
An S Corporation Could Cut Your Self-Employment Tax
If your business is organized as a sole proprietorship or as a wholly owned limited liability company (LLC), you’re subject to both income tax and…
5.3.21
Avoid Buying Unreliable — Or Fraudulent — Insurance Coverage
Bad faith denials of claims by insurers are illegal, but some dishonest companies or agents attempt them anyway. It’s possible that just when you have…