Articles Archives - Page 9 of 88 - HW&Co. CPAs and Advisors

IRS Dirty Dozen Part 3 – Fake Charities, Deceitful Tax Professionals, and Social Media

Today, we continue bringing you the scams highlighted by IRS’s 2024 Dirty Dozen campaign, an annual list compiled by the IRS listing the most common tax schemes and providing taxpayers […]

When Businesses May Want to Take a Contrary Approach With Income and Deductions

By: David M. Reape

Businesses usually want to delay recognition of taxable income into future years and accelerate deductions into the current year. But when is it wise to do the opposite? And why […]

IRS Dirty Dozen Part 2 – Fake Online Account Assistance, False Fuel Tax Credit Claims, and Offer in Compromise Mills

Last week, we introduced you to the IRS’s 2024 Dirty Dozen campaign, an annual list compiling the most common tax schemes. The campaign provides taxpayers with important information about how […]

Don’t Have a Tax-Favored Retirement Plan? Set One Up Now

By: David M. Reape

If your business doesn’t already have a retirement plan, it might be a good time to take the plunge. Current retirement plan rules allow for significant tax-deductible contributions. For example, […]

IRS Dirty Dozen Part 1 – 2024 Campaign Kicks Off With Warnings About Phishing, Smishing, and ERC Scams

For over two decades, the IRS has issued the “Dirty Dozen,” an annual list of common tax scams and abusive tax avoidance arrangements that expose taxpayers to the risk of losing personal information, data, […]

Got Fraud Losses? How Experts Put a Number on Damages

By: Tony LaNasa

If a fraud event causes substantial financial losses for your organization, you may opt to initiate legal proceedings against the guilty party, potentially seeking compensation in the form of compensatory […]

Don’t Be Surprised by a Sudden Influx of Support

By: Helen Weeber

When a Category 5 hurricane hit a coastal community, its most well-known health and human services charity was ready to respond with rescue plans, supplies, emergency shelters, and well-trained personnel. What […]

2024 Q2 Tax Calendar: Key Deadlines for Businesses and Employers

By: David M. Reape

Here are some of the key tax-related deadlines that apply to businesses and other employers during the second quarter of 2024. Keep in mind that this list isn’t all-inclusive, so […]

Charity Scams: A Small Business Perspective

By: Tony LaNasa

Many businesses help their communities by donating to local charities. Although many nonprofits merit your support, some exist expressly to facilitate fraud. How do you avoid the latter? Before you […]

Coordinating Sec. 179 Tax Deductions With Bonus Depreciation

By: David M. Reape

Your business should generally maximize current year depreciation write-offs for newly acquired assets. Two federal tax breaks can be a big help in achieving this goal: first-year Section 179 depreciation […]

IRS: Personal Expenses for General Health and Wellness Are Not Reimbursable Under Health FSAs, HRAs, HSAs, or MSAs

The Internal Revenue Service recently issued a news release cautioning taxpayers and health spending plan administrators that personal expenses for general health and wellbeing do not count as medical expenses for tax […]

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