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How entrepreneurs must treat expenses on their tax returns

How entrepreneurs must treat expenses on their tax returns

May 1, 2019
Entrepreneurs are often unaware that many expenses incurred by start-ups can’t be deducted right away. You should be aware that the way you handle some of your initial expenses can make a large difference in your tax bill.
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Dissecting the role of the forensic accountant in litigation

Dissecting the role of the forensic accountant in litigation

May 1, 2019
Forensic accountants specialize in conducting fraud audits and investigations to detect irregularities and troubling trends, looking for both telltale and subtle signs of white collar crime.
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Employee vs. independent contractor: How should you handle worker classification?

Employee vs. independent contractor: How should you handle worker classification?

May 1, 2019
Many employers prefer to classify workers as independent contractors to lower costs, even if it means having less control over a worker’s day-to-day activities. But the government is on the lookout for businesses that classify workers as independent contractors simply to reduce taxes or avoid their employee benefit obligations.
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Casualty loss deductions: You can claim one only for a federally declared disaster

Casualty loss deductions: You can claim one only for a federally declared disaster

May 1, 2019
What’s considered a casualty for tax purposes? It’s a sudden, unexpected or unusual event, such as a hurricane, tornado, flood, earthquake, or fire; an accident or act of vandalism; or even a terrorist attack.
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Fraud fact: Crooks prefer cash

Fraud fact: Crooks prefer cash

April 17, 2019
Strong internal controls are instrumental in preventing cash-type schemes. But even the strongest controls sometimes fail to prevent a determined fraudster.
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Three questions you may have after you file your return

Three questions you may have after you file your return

April 17, 2019
Once your 2018 tax return has been successfully filed with the IRS, you may still have some questions. Here are brief answers to three questions that we're frequently asked at this time of year.
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Deducting business meal expenses under today’s tax rules

Deducting business meal expenses under today’s tax rules

April 17, 2019
In the course of operating your business, you probably spend time and money “wining and dining” current or potential customers, vendors and employees. What can you deduct on your tax return for these expenses? The treatment of meal and entertainment expenses became more complicated after the TCJA.
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Prevent hackers from wiping out your employees’ 401(k) accounts

Prevent hackers from wiping out your employees’ 401(k) accounts

April 17, 2019
Without adequate vigilance, anybody can be a few clicks away from cleaning out your employees’ 401(k) accounts. Review your plan documents carefully and educate participants about their responsibilities for monitoring their accounts.
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Stretch your college student’s spending money with the dependent tax credit

Stretch your college student’s spending money with the dependent tax credit

April 17, 2019
The TCJA established a new $500 tax credit for dependents who aren’t under-age-17 children who qualify for the child tax credit. However, these individuals must pass certain tests to be classified as dependents.
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Many tax-related limits affecting businesses increase for 2019

Many tax-related limits affecting businesses increase for 2019

March 8, 2019
A variety of tax-related limits affecting businesses are annually indexed for inflation, and many have gone up for 2019.
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Is your business prepared for a fraud disaster?

Is your business prepared for a fraud disaster?

March 8, 2019
Your company probably has a contingency plan for such potential calamities as fires and natural disasters. But what about a fraud contingency plan? Even if you don’t believe that one of your trusted employees would ever steal from you, it pays to be prepared.
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Tax-free fringe benefits help small businesses and their employees

Tax-free fringe benefits help small businesses and their employees

March 8, 2019
In today’s tightening job market, to attract and retain the best employees, small businesses need to offer not only competitive pay, but also appealing fringe benefits. Benefits that are tax-free are especially attractive to employees.
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