Blog
Accounting Lessons From The NBA’s Zaza Pachulia
NBA star Zaza Pachulia and his wife recently learned the hard way that it’s critical to use a reputable accountant. Pachulia’s identity was used by his accountant, Randy Usow, to defraud the...
Expert Witnesses Are Not Immune To Malpractice Claims
A Michigan Court of Appeals recently ruled that expert witnesses can’t simply claim witness immunity for testimony that can be considered incompetent. Instead, licensed professionals acting as...
How Hobbies Get Taxed
Hobbies are a great distraction from the hustle and bustle of work. If you're retired, they can be equally fulfilling. Over time, some of us become so good at our hobbies that they start...
Retiring In 2019
Retiring soon? Congratulations! Certain changes in the tax code affect your income taxes as you retire, including healthcare deductions and Social Security distributions. If you’re a business...
When A Loan Triggers A Tax Debt
Funds received as proceeds of a loan aren’t taxable as long as you’re expected to pay it back. However, the moment some or all of the debt is forgiven (and doesn’t need to be paid back), the...
YOU are not your business
When it’s time to sell your business, you might discover you’re tied too much of yourself into it. Your money, assets—even your reputation—can be so entwined in the business that they’re...
Unlucky Tax Strategies That Don’t Work
Have you ever heard about a tax strategy you thought was so crazy, it just might work? Here’s what we can tell you: If it’s illegal, the IRS has seen it before, and it’s only a matter of time...
More Lessons On Jury Awards Taxed As Ordinary Income
A recent court ruling held that a jury award of tort damages (including interest) that a cattle and dairy farmer received in a stray voltage lawsuit were ordinary income which should have been...
Don’t Overlook The R&D Tax Deduction
Maybe you’ve been challenged to build stronger, lighter, faster, or more environmentally friendly, energy efficient, or automation-enabled. Perhaps the architectural design of the home is...
The Skinny On Offshore Accounts
You've likely heard the term "offshore accounts" - perhaps holding your money in one has been recommended to you before. The name may conjure images of the Swiss Alps or a sandy Caribbean beach...