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 effect of increased state-level sales and use tax audits, according to CPA Practice Advisor. Of particular […]
Litigation Financing Rises Alongside Economic Worries
Litigation financing has come a long way since being considered a bizarre bankrolling tool in cases like Hulk Hogan’s lawsuit against Gawker Media in 2016. In fact, the potential for ligation financing may only just be starting to take shape, particularly during times of economic uncertainty. “Having proven that it can grow through an economic […]
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. You wire the funds and start […]
Steven Bankler Senior Partner Steven Bankler CPA Ltd. San Antonio, TX
As s a young man, Steven Bankler learned the value of record keepning. His family owned a series of local businesses where he learned much about finance and taxes. With an undeniable interest in taxes, it was only fitting that Steven became a successful certified public accountant and opened his own firm. [button link=”https://bankler.com/wp-content/uploads/2023/01/Bankler77-1.pdf” color=”black”] […]
Form 1099-K Changes on Hold…For Now
Businesses and individuals who use digital platforms like Venmo, Paypal, and eBay were bracing for tax headaches as the tax reporting threshold was about to drop with the New Year’s ball to $600. That plan changed at the last moment. For months, the IRS had been warning early filers to wait for “key documents” that […]
Growth & Your Family Business
If you’re a family business owner, you likely didn’t choose that path because you hungered for business growth. But did you know that growth is the key to your family business thriving past the first generation? The latest PwC Global NextGen Survey sheds light on this factor, along with how different generations within a family […]
Have You Checked for Unclaimed Property Lately?
The Texas Comptroller’s office approved and paid out a record $309 million in unclaimed property during the past fiscal year. It might be worth checking out for yourself. Since 1963, Texas has had a system in place requiring institutions, businesses, and governmental entities to report to the state any personal property that has been unclaimed […]
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 the U.S. Attorney for the Northern District of […]
What a Year: 2023 Inflation-Adjusted Tax Breaks
Inflation adjustments are bigger than usual in 2023: coming in at about 7% for more than 60 federal tax provisions, including personal tax deductions, capital gains thresholds, and estate taxes. As part of the changes, income tax brackets are being bumped up, producing the most savings for the highest-income taxpayers. Single filers will need to […]
The Latest in Tax-Saving Charitable Giving
If you’re feeling the urge to give more to charity this year, you’re not alone. In addition to it being the season for giving, Americans are considering increased donations this year due to recession fears. According to a study from Fidelity Charitable, nearly 75% of those surveyed said they worry about other community members, and […]