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Claiming theft loss deduction if business is victim of embezzlement
A business may be able to claim a federal income tax deduction for a theft loss. But does embezzlement count as theft? In most cases it does but...
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A business may be able to claim a federal income tax deduction for a theft loss. But does embezzlement count as theft? In most cases it does but...
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The week of September 13-17 has been declared National Small Business Week by the Small Business Administration. To commemorate the week, here are...
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If you’re a business owner and you’re getting a divorce, tax issues can complicate matters. Your business ownership interest is one of your biggest...
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Employer-provided life insurance is a coveted fringe benefit. However, if group term life insurance is part of your benefit package, and the coverage...
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If your business receives large amounts of cash or cash equivalents, you may be required to report these transactions to the IRS.
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If you’re the type who would rather order ala carte rather than a set entrée, you might prefer a “self-directed” IRA. With this option, you may be...
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What if you decide to, or are asked to, guarantee a loan to your corporation? Before agreeing to act as a guarantor, endorser or indemnitor of a debt...
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Perhaps you operate your small business as a sole proprietorship and want to form a limited liability company (LLC) to protect your assets. Or maybe...
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Because of the COVID-19 pandemic and the resulting economic turndown in some areas, you may have family members in need of financial support. If...
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Do you play a major role in a closely held corporation and sometimes spend money on corporate expenses personally? These costs may wind up being...
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The IRS just released its audit statistics for the 2020 fiscal year and fewer taxpayers had their returns examined as compared with prior years. But...
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Many people, when planning their estates, simply divide their assets equally among their children. But “equal” may not necessarily mean “fair.” It...
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Eligible parents will soon begin receiving payments from the federal government. The IRS announced that the 2021 advance child tax credit (CTC)...