2 min read
Scott Henvey: Sep 16, 2021 11:00:00 AM
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...
2 min read
Maurice La Verdure: Sep 14, 2021 11:00:00 AM
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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Scott Henvey: Aug 30, 2021 11:00:00 AM
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...
2 min read
Maurice La Verdure: Aug 26, 2021 11:00:00 AM
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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Scott Henvey: Aug 24, 2021 11:00:00 AM
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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Maurice La Verdure: Aug 20, 2021 11:00:00 AM
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...
2 min read
Maurice La Verdure: Aug 18, 2021 11:00:00 AM
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...
2 min read
Maurice La Verdure: Aug 10, 2021 11:00:00 AM
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...
1 min read
Scott Henvey: Aug 6, 2021 11:00:00 AM
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...
1 min read
Maurice La Verdure: Jul 26, 2021 11:00:00 AM
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...
2 min read
Scott Henvey: Jul 16, 2021 11:00:00 AM
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...
1 min read
Maurice La Verdure: Jul 14, 2021 11:00:00 AM
Many people, when planning their estates, simply divide their assets equally among their children. But “equal” may not necessarily mean “fair.” It...
1 min read
Scott Henvey: Jul 12, 2021 11:00:00 AM
Eligible parents will soon begin receiving payments from the federal government. The IRS announced that the 2021 advance child tax credit (CTC)...
