You can only claim a casualty loss tax deduction in certain situations
September 1, 2021
The rules for deducting personal casualty losses on a tax return have changed through 2025. However, you may still be able to claim a deduction if an event qualifies as a federally declared disaster (and several have this summer).
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.
COVID-related leave-sharing programs remain viable
August 30, 2021
Employers offering or considering leave-sharing programs related to COVID-19 charities should read up on recent IRS guidance.
Financial reporting issues to consider in “going private” transactions
August 27, 2021
Is it time to take your company out of the public eye? Public companies may be considering delisting to lower costs and reduce outside scrutiny. Here are some critical issues to factor into this decision.
Does your employer provide life insurance? Here are the tax consequences
August 25, 2021
Does your employer provide you with group term life insurance? Depending on the amount of coverage, it may add to your tax bill. Here are the rules.
Getting a divorce? Be aware of tax implications if you own a business
August 24, 2021
Divorce may have tax implications for the spouses involved, especially if one or both of them owns a business. Here are some of the issues involved.
