Homebuyers: Can you deduct seller-paid points?
Despite the COVID-19 pandemic, the National Association of Realtors (NAR) reports that existing home sales and prices are up nationwide,…
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Employers have questions and concerns about deferring employees’ Social Security taxes
The IRS has provided guidance to employers regarding the recent presidential action to allow employers to defer the withholding, deposit…
Making lifetime gifts continues to be a smart estate planning strategy
With the federal gift and estate tax exemption now at a record high $11.58 million for 2020, most estates aren’t…
Some online sellers burnish their reputations at the expense of yours
Reports started trickling into state agricultural agencies in July: Consumers were worried about strange seed packets they had received in…
5 key points about bonus depreciation
Under current law, 100% bonus depreciation will be phased out in steps for property placed in service in calendar years…
Will You Have to Pay Tax on Your Social Security Benefits?
If you’re getting close to retirement, you may wonder: Will my Social Security benefits be taxed? It depends on your…
3 steps experts follow when investigating fraud
When investigating suspected fraud, forensic accountants follow three steps to build a solid case. They generally interview management to gather…
CARES Act made changes to excess business losses
The Coronavirus Aid, Relief and Economic Security (CARES) Act made changes to excess business losses. This includes some changes that…
What happens if an individual can’t pay taxes
While you probably don’t have any problems paying your tax bills, you may wonder: What happens in the event you…
The possible tax consequences of PPP loans
If your business was fortunate enough to get a Paycheck Protection Program (PPP) loan taken out in connection with the…
Journal entries may signal financial statement fraud
With a median loss of $954,000, financial statement frauds are the costliest type of white-collar crime, according to the Association…
More parents may owe “nanny tax” this year, due to COVID-19
In the COVID-19 era, many parents are hiring nannies and babysitters because their daycare centers and summer camps have closed.…