How Fraud Perpetrators Conceal Their Illicit Activities
Employees who commit fraud typically strive to keep the schemes running as long as possible by concealing their activity from others. The success of thieves is largely determined by their […]
Category: Services
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
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
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
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 […]
2024 Q2 Tax Calendar: Key Deadlines for Businesses and Employers
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
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
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 […]
Tips for Investigating Employee Fraud Tips
Occupational fraud is a crime typically committed by employees against their employers. Ironically, employees are also more likely to recognize or suspect occupational fraud schemes perpetrated by coworkers or managers. […]
