Blog
It’s Time to Add a Forensic Audit to Your Acquisition Tool Kit
When it comes to a business acquisition, due diligence is critically important. But what can matter most is who participates in it. Deal-breakers can emerge by the dozen once the books are...
Keeping Your Business Financially Afloat
Warren Buffett’s famous quote, “You never know who's swimming naked until the tide goes out,” is eerily ominous this year. More than 100,000 small businesses have permanently closed due to the...
2020 Lessons on SUCCESSion Planning
If 2020 has taught us anything, it’s that no matter how successful you are or how well you take care of yourself, your financial situation and health are both surprisingly fragile and...
Can You Deduct a Virtual Company Holiday Party?
Ah, 2020. It’s the gift that keeps on giving. As we head into the home stretch, employers are wondering what on Earth they’re going to do about their annual holiday parties thanks to the...
Tax Adjustment Dispute? It’ll Be Scanned for Pandemic Exploitation
John Hughes, director of the IRS Advance Pricing and Mutual Agreement (APMA) Program, said his department was aware of the potential for "opportunism" among taxpayers to adjust their tax...
2020 Audit Triggers
For business owners who received a federal Paycheck Protection Program (PPP) loan this spring and misused it, the time of reckoning has come. More than a dozen criminal cases have been filed...
Audit Trigger 2020
After a brief break during the height of the spring shutdown, the IRS is back at it, auditing certain taxpayers. Your financial situation has likely gone through some unexpected bumps in 2020,...
Charity in 2020: A Tax Guide
This year is unlike any other. That truth is clear when it comes to charitable contributions. Several relief measures and new tax rulings may affect your usual giving plan, for better or for...
A Reminder to “Log” Travel Expenses
As business travel picks back up, a court ruling within the past 12 months brings to light the importance of maintaining records for travel-related tax deductions. The case involves a...
Did You Request IRS Penalty Relief Due to COVID?
The September 15 tax deadline has come and gone, but many had trouble getting their taxes filed and paid on time. The IRS offers relief, but even some who followed the rules will still receive...