Employers: Will your health insurance be “affordable” in 2022?
September 20, 2021
Employers, act now to determine whether you could be subject to an Affordable Care Act penalty for your 2022 health care coverage.
Related-party transactions draw attention from auditors
September 17, 2021
Does your business interact with your friends, relatives and subsidiaries? If so, you may need to disclose the details of those transactions and relationships in your financial statements. Here’s why and how auditors pay special attention to related parties.
Restating financial results
September 13, 2021
Stakeholders are understandably alarmed when a company restates its financial results. However, the reasons for restatements can range from the mundane to the serious.
Defining involuntarily termination for the ARPA COBRA subsidy
September 10, 2021
Many employers must provide COBRA coverage to departing employees. Recent IRS guidance addresses how to define involuntary termination in relation to the 100% COBRA premium subsidy.
Claiming a theft loss deduction if your business is the victim of embezzlement
September 9, 2021
If your business is victimized by theft, embezzlement or internal fraud, you may be able to claim a tax deduction for the loss. But there are requirements that must be followed as one U.S. Tax Court decision illustrates.
Want to find out what IRS auditors know about your business industry?
August 31, 2021
If you own or operate a business, you may not know that the IRS has “Audit Techniques Guides” for certain industries and tax issues. IRS examiners use them to prepare for audits and you can read them too. Here’s how.
