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Inflation and Your Small Business

Inflation and Your Small Business

The U.S. Chamber of Commerce reports that one in three small business owners consider inflation their top concern right now. Inflation worries have driven small business optimism about the future to record lows, adds the National Federation of Independent Business. In...

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Uncle Sam Just Scored a Mysterious $7B Tax Gift

Uncle Sam Just Scored a Mysterious $7B Tax Gift

LinkedIn: Only a handful of known billionaires could be responsible, but there are no obvious suspects. Was it tax planning at its worst or its most brilliant? In one single day this past February, the U.S. Treasury recorded a deposit of $7 billion in the category of...

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529 Rollovers to Roth IRAs Coming Soon

529 Rollovers to Roth IRAs Coming Soon

Starting in 2024, you can rollover old, unused 529 funds into a Roth IRA as a way to avoid taxes and penalties on the money if it turns out you didn’t need it for a student’s education after all. The change is part of the SECURE 2.0 Act, which, under Section 126, will...

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The ‘Wayfair Tax’ Could Plague Businesses in 2023

The ‘Wayfair Tax’ Could Plague Businesses in 2023

Remember the 2018 Wayfair ruling? Industry experts speculate that small businesses conducting out-of-state sales could see enforcement of the economic nexus ruling ramp up in 2023. The $80 billion cash infusion the IRS recently received could cause a trickle-down...

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Unsettling Real Estate Scams on the Rise

Unsettling Real Estate Scams on the Rise

You’re on the verge of closing on the purchase of a new house when an email comes in from the agent. It includes instructions on how to wire your closing costs just as you anticipated. The timing is correct, and the email seems legitimate, so you don’t question it....

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How a $1 Billion Texas Tax Shelter Blew Apart

How a $1 Billion Texas Tax Shelter Blew Apart

It’s hard to hide one billion dollars from the IRS, as a Dallas attorney allegedly found out recently. The man is accused of creating tax shelters to help high-net-worth clients conceal giant sums of money in income from the IRS. What did he allegedly do? According to...

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