Seller-paid points: Can homeowners deduct them?
September 28, 2022
In general, points a BUYER pays in a home sale are a tax-deductible interest expense. But what about SELLER-paid points?
Separating your business from its real estate
September 27, 2022
Separating the ownership of a business’s real estate from the business isn’t always advisable. But it might be worthwhile in some situations.
Why auditors prefer in-person interviews to assess fraud risks
September 26, 2022
Psychologists estimate that more than 90% of communication happens through tone of voice and body language. So, when evaluating fraud risks during an audit, a face-to-face interview is critical to help detect nonverbal cues.
Year-end tax planning ideas for your small business
September 23, 2022
Before you know it, the end of 2022 will be near. Here are some year-end moves to consider that may help your small business save on taxes.
Is your income high enough to owe two extra taxes?
September 22, 2022
There are two special taxes that may have a significant effect on the tax bills of high-income folks: the 3.8% net investment income tax and a 0.9% additional Medicare tax on wage and self-employment income. Here are the basic rules.
IRS won’t address some spinoff/terminations involving pension plan assets
September 20, 2022
Recently, the IRS announced some notable news for employers that sponsor qualified defined benefit plans, more commonly known as pensions.
