Understanding Taxes on Real Estate Gains
Let’s say you own real estate that has been held for more than one year and is sold for a taxable gain. Perhaps this gain comes from indirect ownership of real estate via a pass-through [...]
Cash or Accrual Accounting: What’s Best for Tax Purposes?
Your businesses may have a choice between using the cash or accrual method of accounting for tax purposes. The cash method often provides significant tax benefits for those that qualify. However, some businesses may be [...]
Protecting Yourself and Your Employees from Identity Theft and Fraud
In today’s digital age, the threat of identity theft and fraud has never been more prevalent. With cybercriminals becoming increasingly sophisticated, it’s essential to understand the risks and take proactive steps to safeguard your personal [...]
Understanding Consulting vs. Advisory Services: What’s the Difference?
As businesses grow and evolve, the need for external expertise becomes increasingly vital. Whether it's navigating complex financial landscapes, optimizing business processes, or planning for future growth, the right professional support can make all the [...]
Business Website Expenses: How They’re Handled for Tax Purposes
Most businesses have websites today. Despite their widespread use, the IRS hasn’t issued formal guidance on when website costs can be deducted. But there are established rules that generally apply to the deductibility of business [...]
How are Series EE Savings Bonds Taxed?
Savings bonds are purchased by many Americans, often as a way to help fund college or show their patriotism. Series EE bonds, which replaced Series E bonds, were first issued in 1980. From 2001 to [...]
Closing a Business Involves a Number of Tax Responsibilities
While many facets of the economy have improved this year, the rising cost of living and other economic factors have caused many businesses to close their doors. If this is your situation, we can help [...]
The Rising Threat of QR Code Phishing: What You Need to Know
As technology advances, so do the tactics of cybercriminals. One of the latest methods they employ is QR code phishing, often referred to as "quishing." This article explores the dangers of quishing, backed by current [...]
Be Aware of the Tax Consequences of Selling Business Property
If you’re selling property used in your trade or business, you should understand the tax implications. There are many complex rules that can potentially apply. To simplify this discussion, let’s assume that the property you [...]
Planning Your Estate? Don’t Overlook Income Taxes
The current estate tax exemption amount ($13.61 million in 2024) has led many people to feel they no longer need to be concerned about federal estate tax. Before 2011, a much smaller exemption resulted in [...]