Fraud Lurks Case Study: Time for Another Raise
Fraud Lurks is a series of case studies of frauds/defalcations which I personally investigated. This month’s case study is entitled “Time for Another Raise.” Much like last month’s, the plan […]
Category: Articles
Municipal Employer Withholding Tax Update
Since the start of the COVID-19 pandemic, many employees have been working remotely instead of at their pre-COVID-19 principal place of work municipalities. Why did this cause an issue for […]
Important Reminders for Charitable Giving in 2021
With the kickoff of the giving season, many people will be donating to charitable organizations. Taxpayers may be able to deduct donations to tax-exempt organizations on their tax returns. Here […]
Small Businesses: There Still May Be Time to Cut Your 2021 Taxes
Don’t let the holiday rush keep you from considering some important steps to reduce your 2021 tax liability. You still have time to execute a few strategies to potentially cut […]
Manufacturers: Is It Time for a Cost Segregation Study?
Manufacturers often own the building, or several buildings, where their goods are produced. Normally, it takes almost four decades (39 years) to fully recover the cost of a commercial property […]
IRS Tax Tip: Depreciation of Property Deductions for Small Business Owners
The IRS issued Tax Tip 2021-173, which addresses the depreciation of property deductions for small business owners. Depreciable property includes vehicles, buildings, equipment, machinery, and furniture; it does not include […]
American Rescue Plan (ARP) Rural Payments Begin
On November 23, 2021, the Health Resources and Services Administration (HRSA) began distributing American Rescue Plan (ARP) Rural payments. The $8.5 billion ARP Rural distribution is based on the number […]
KYC Rules Help Prevent Fraud and Offer Other Advantages
For years, banks, financial service and investment companies, and exporters have been required to follow know-your-customer (KYC) processes to thwart criminal activity. Developed to help certain businesses comply with anti-money […]
Infrastructure Law Sunsets Employee Retention Credit (ERC) Early
The Employee Retention Credit (ERC) was a valuable tax credit that helped employers survive the COVID-19 pandemic. A new law has retroactively terminated it before it was scheduled to end. […]
FASB Accounting Standards Update Requires Government Incentive Disclosures
On Nov. 17, 2021, the Financial Accounting Standards Board (FASB) issued an Accounting Standards Update (ASU) No. 2021-21 that requires for-profit entities to disclose certain types of government incentives they […]
Tips on Effective Debt Management for the Consumer
Debt! Sometimes it’s good; sometimes it’s bad….and it can definitely contribute to stressful situations and relationships. Although most of us don’t love the thought of owing money to others, debt […]
Six Steps to Prepare Your Business for a Sale
The COVID-19 pandemic has put unprecedented stress on private business owners, and some are now considering selling their businesses. Before putting your business on the market, it’s important to prepare […]
