phishing
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Phishing Scams and Tax Professionals: Increase Security and "Don't Take the Bait"

The IRS warns that tax professionals are increasingly the targets of phishing scams. Increase cyber security and beware of email that appears to be from friends, customers or companies. In conjunction with their Security Summit, the IRS…
selling investments
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Details Matter When Selling Investments

The tax consequences of the sale of an investment, as well as your net return, can be affected by a variety of factors. You’re probably focused on factors such as how much you paid for the investment vs. how much you’re selling it for, whether…
Portability extension

IRS Portability Election Extension Simplified

Last month, the IRS issued a Revenue Procedure that simplifies the Portability election extension. This allows certain estates to make a late portability election without first filing a ruling request. Portability is a tax law provision that…
corporate assets

Separate Real Estate from Your Corporate Assets to Reduce Taxes

It’s common for a business to own not only typical business assets, such as equipment, inventory and furnishings, but also the building where the business operates — and possibly other real estate as well. There can, however, be negative…
donations
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3 Tax Breaks for Business Charitable Donations

Donating to charity is more than good business citizenship; it can also save tax. Some business owners may not be aware of some of the lesser-known federal income tax breaks. Here are 3 tax breaks for business charitable donations: 1. Food…
2017 tax calendar

2017 Tax Calendar for Businesses

Here are some of the key tax-related deadlines affecting businesses and other employers during the second quarter of 2017. Keep in mind that this list isn’t all-inclusive, so there may be additional deadlines that apply to you. Contact us…
Compensation strategy

Fine Tune your Company's Compensation Strategy

As a business evolves, so must its compensation strategy. Hopefully, your company is growing — perhaps adding employees or promoting staff members who are key to your success. But other things can spur the need to fine-tune your compensation…
Accounting Software

2 Reasons to Upgrade your Accounting Software

Many business owners buy accounting software and, even if the installation goes well, eventually grow frustrated when they don’t get the return on investment they’d expected. There’s a simple reason for this: Stuff changes. Technological…
Seasonal business operating cycle

Seasonal Businesses: Optimize your Operating Cycle

Every business has some degree of ups and downs during the year. But cash flow fluctuations are much more intense for seasonal businesses. So, if your company defines itself as such, it’s important to optimize your operating cycle to anticipate…
business loans

How the IRS views Loans between your Business and it's Owners

It’s common for closely held businesses to transfer money into and out of the company, often in the form of a loan. However, the IRS looks closely at such transactions: Are they truly loans, or actually compensation, distributions or contributions…