The New Business Interest Expense Rules
The IRS released the final regulations and other guidance on the limitation on the deduction for business interest expenses amended by the CARES Act of 2020. The 2017 tax overhaul …
Leverage Your Accountant for Litigation Support
So much litigation these days is a money game that follows fraud dollars, exposes embezzlement and sets a dollar value for damages. Some accountants serve as expert witnesses to help …
Deciding Between a Compilation and a Review
Even a successful and growing small business may be asked for an audited financial statement by a banker, investor, creditor, or buyer. These third parties often want some assurance that …
New DOL Guidance on Employee Leaves
The pandemic has affected both employers and employees, and everyone is trying to figure out how to work under new situations and new rules. The new DOL guidance will help …
Payroll Tax Liabilities: Know the Details
On the federal level, employer-only taxes include Social Security tax, Medicare tax, and federal unemployment (or FUTA) tax, which are administered by the Internal Revenue Service (IRS). On the state …
Reconstructing Records After a Disaster
If you’re the victim of a major disaster, you might be entitled to government relief. But you will need records to help you prove disaster-related losses for tax purposes, federal …