How Fraud Perpetrators Conceal Their Illicit Activities By: Anthony LaNasa Employees who commit fraud typically strive to keep the schemes running as long as possible by concealing their activity from others. The success of thieves is largely determined by their […]
When Businesses May Want to Take a Contrary Approach With Income and Deductions By: David M. Reape Businesses usually want to delay recognition of taxable income into future years and accelerate deductions into the current year. But when is it wise to do the opposite? And why […]
Don’t Have a Tax-Favored Retirement Plan? Set One Up Now By: David M. Reape If your business doesn’t already have a retirement plan, it might be a good time to take the plunge. Current retirement plan rules allow for significant tax-deductible contributions. For example, […]
Got Fraud Losses? How Experts Put a Number on Damages By: Anthony LaNasa If a fraud event causes substantial financial losses for your organization, you may opt to initiate legal proceedings against the guilty party, potentially seeking compensation in the form of compensatory […]
2024 Q2 Tax Calendar: Key Deadlines for Businesses and Employers By: David M. Reape Here are some of the key tax-related deadlines that apply to businesses and other employers during the second quarter of 2024. Keep in mind that this list isn’t all-inclusive, so […]
Charity Scams: A Small Business Perspective By: Anthony LaNasa Many businesses help their communities by donating to local charities. Although many nonprofits merit your support, some exist expressly to facilitate fraud. How do you avoid the latter? Before you […]
Coordinating Sec. 179 Tax Deductions With Bonus Depreciation By: David M. Reape Your business should generally maximize current year depreciation write-offs for newly acquired assets. Two federal tax breaks can be a big help in achieving this goal: first-year Section 179 depreciation […]
IRS: Personal Expenses for General Health and Wellness Are Not Reimbursable Under Health FSAs, HRAs, HSAs, or MSAs The Internal Revenue Service recently issued a news release cautioning taxpayers and health spending plan administrators that personal expenses for general health and wellbeing do not count as medical expenses for tax […]
Tips for Investigating Employee Fraud Tips By: Anthony LaNasa Occupational fraud is a crime typically committed by employees against their employers. Ironically, employees are also more likely to recognize or suspect occupational fraud schemes perpetrated by coworkers or managers. […]
Better Tax Break When Applying the Research Credit Against Payroll Taxes By: David M. Reape The credit for increasing research activities, often referred to as the research and development (R&D) credit, is a valuable tax break available to certain eligible small businesses. Claiming the credit […]
There Still May Be Time to Reduce Your Small Business 2023 Tax Bill By: Ed Decker In the midst of holiday parties and shopping for gifts, don’t forget to consider steps to cut the 2023 tax liability for your business. You still have time to take […]