Blog
IRS Whistleblowers Can Win 30% of What’s Due (But It’s Not Easy)
Money is a powerful motivator. That’s why the IRS Whistleblower Office is sometimes called into action, often when business partner disputes or divorce cases gain momentum. There could be a lot...
Win the Lottery…and Jail Time
A recent tax court case involving a Boston cop proves that once you purchase a winning lottery ticket, you’re on the hook to pay taxes on the winnings—even if you don’t keep the ticket. The...
Is It Time to Sell the Business?
Timing is everything. But what is the best “timing” when it comes to selling your business? It’s certainly an individual decision (no two business owners’ situations are alike). But to help...
From Risk to Managing Partner
Gina Valorz joined Steven Bankler’s CPA firm in 1996 and Bankler Advisory, the investment advisory service of Steven Bankler’s CPA firm, in 2001. Today, Valorz is the managing...
Tipped Employees and the New 80/20 Rule
The U.S. Department of Labor’s newly revamped “80/20 guidance” for tipped workers is in effect after an emergency motion to withdraw it was denied. What is it and how does it affect Texas...
When You Can’t Pay Your Federal Taxes
It’s hard to get taxes right, but what if you’re surprised with a shockingly high federal tax bill you didn’t know you owed? The IRS offers some options, but if it’s a significant amount, turn...
Is Your Family Business Failing to Innovate?
Family businesses are typically slow to embrace change, which is a fatal liability these days. A failure to innovate is a significant reasonfamily businesses don’t make it past the first or...
Cash Payments Can Trigger IRS Trouble
What do $600, $5,000, and $10,000 have in common? They’re specific payment amounts to a person or business that can trigger IRS reporting requirements. Ignore those triggers, and someone...
IRS Facial Recognition Snafu Is a Wakeup Call
It’s not the first time the IRS has backed away from a terrible idea after public outcry, but it is one of the more confounding instances. Last November, the IRS announced that it would require...
When Business Matters Are Settled in Family Court
There are business disputes, and then there are family business disputes. This one-word difference can lead to a world of legal complications. Conflicts in a family business can instantly turn...
