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Although fewer paper checks are being issued now than in the past, old-fashioned paper checks remain the "go-to" payment method for many individuals and organizations. While checks may be convenient and familiar, fraud is a persistent problem. According to the Federal Reserve Bank of Boston, the… Read more
The Tax Cuts and Jobs Act (TCJA) brought a significant, albeit delayed, change to the tax treatment of research and experimentation (R&E) costs under Internal Revenue Code Section 174. After the law was enacted, many tax experts mistakenly expected that Congress would intervene before the amendment…
This election season, the candidates are putting forth all sorts of tax proposals. One such proposal you may hear about is referred to as fair tax, also known as consumption tax. Here's what you should know to understand how fair tax proposals might play out.
Conservation easements can be an effective way for wealthy taxpayers to achieve their philanthropic goals while scoring lucrative tax deductions. Recent developments from the IRS, Congress and the courts could make some taxpayers hesitant to use conservation easements. However, these vehicles remain…
Some small businesses struggle with employee morale for a variety of reasons, one of which may be economic uncertainty. If you want to boost employees' spirits without a big financial outlay, an achievement awards program is a relatively low-cost fringe benefit that may be a win-win addition.
The IRS recently announced the launch of a new multistage regulatory initiative intended to close what it calls a "major tax loophole exploited by large, complex partnerships." The IRS's actions are prompted by its belief that some partnerships are using transactions with related parties to…
Identity theft can have a significant impact, especially when it involves children. Cybercriminals target the identities of children because they have unblemished credit histories that tend to be infrequently reviewed. That means a fraud may go undetected for years, often until the child has a…
