Blog
Still Waiting for PPP Loan Forgiveness?
As COVID-19 relief for small businesses fades away, about 1 million PPP loans remain unforgiven. Roughly 9% of businesses that received PPP loans haven't filed for forgiveness. A handful who...
Turns Out Chrisley Doesn’t Know Best
Reality television stars Todd and Julie Chrisley were recently convicted for tax fraud and willingly filing false tax returns. They blamed an employee and their accountant feigned ignorance,...
Are You an Audit Risk?
You may have heard that IRS audits are few and far between these days, and, for most taxpayers, the risk is indeed low. An average American taxpayer ten years ago was about three times more...
New Anti-Fraud Requirement Coming for Small Businesses
A massive new filing requirement designed to crack down on shell companies and fraud is coming for certain small businesses with fewer than 20 full-time employees or less than $5 million in...
Avoid This Costly Charitable Deduction Mistake
It’s better to give than to receive, but receiving a tax break for your charitable giving? That’s a win-win. Making a mistake as simple as overlooking the gift receipt, however, can turn a big...
Gina Valorz Article
Gina Valorz was born and raised here in San Antonio, TX. “I love the city and everything it has to offer,” said Gina. She has lived in Sonoma Ranch since 2011. She and her husband David have a...
Don’t Make Foreign Income Your Dirty Little Secret
Tax Court recently upheld a $300,000 tax bill for a retired professor who followed the advice of embassy officials and his CPA when it came to reporting foreign income. It’s an essential lesson...
Buying a Distressed Business
It’s a unique time for small businesses. The economic ups and downs are creating both winners and losers. If you find yourself on the fortunate side, should you seize the opportunity to expand...
Why Did the IRS Trash 30 Million Paper Returns from 2020?
Ever been so far behind on paperwork or sorting mail that you were tempted to throw it all away and start fresh? That’s what the IRS did with 30 million business taxpayer documents received in...
HP’s Painful Employee Fraud Lesson
How did a giant tech company lose $5+ million due to one employee’s act of vendor fraud, and how can small businesses learn from their mistake? A former HP, Inc. (HP) employee recently pleaded...
