Posted on January 5, 2022
Get Ready for Taxes: Here’s What's New and What to Consider When Filing in 2022
The IRS recently issued guidance about topics related to filing individual tax returns in 2022. Here are some key items for you to know.
Posted on December 13, 2021
Year-End Planning for Businesses
With year-end approaching, it is time to start thinking about moves that may help lower your business’s taxes for this year and next. This year’s planning is more challenging than usual due to the uncertainty surrounding pending legislation that could increase corporate tax rates plus the top rates on both business owners’ ordinary income and capital gain starting next year.
Posted on December 13, 2021
Year-End Planning for Individuals
With year-end approaching, it is time to start thinking about moves that may help lower your tax bill for this year and next. This year’s planning is more challenging than usual due to the uncertainty surrounding pending legislation that could, among other things, increase top rates on both ordinary income and capital gain starting next year.
Posted on December 8, 2021
Test Your 1099 Knowledge
Issuing 1099s can be a hassle for small businesses. The recent shift to Form 1099-NEC makes it especially important to test your knowledge ahead of 2021 tax filing deadlines.
Posted on December 7, 2021
Basic 1099 Filing Requirements 2021
Click here to read the latest 1099 Filing Requirements.
Posted on November 9, 2021
Anti-fraud Controls at Organizations
Proactive anti-fraud controls play a key role in an organization’s fight against fraud. While the presence of these mechanisms alone does not ensure that all fraud will be prevented, management’s commitment to and investment in targeted prevention and detection measures sends a clear message to employees, vendors, customers, and others about the organization’s anti-fraud stance.
Posted on November 9, 2021
Internal Control Weaknesses that Contribute to Occupational Fraud
Various factors can facilitate a perpetrator’s ability to commit and conceal fraud schemes at organizations.
Posted on November 9, 2021
Behavioral Red Flags of Fraud
Recognizing the behaviors displayed by fraudsters can help organizations more effectively detect fraud and minimize their losses from the misappropriation of corporate assets.
Posted on November 9, 2021
The Fraud Landscape in 2021 and Beyond
The Covid-19 pandemic has affected the level of fraud and how organizations are tackling it. The Association of Certified Fraud Examiners (“ACFE”) in its report, The Next Normal: Preparing for a Post-Pandemic Fraud Landscape, found that 51% of organizations polled have uncovered more fraud since the pandemic began.
Posted on November 4, 2021
Can Your Business Afford to Borrow Money?
Before your business borrows money, you need to know your current cash flow. You also need an accurate cash flow projection, which is made possible by the latest accounting software solutions.
Posted on November 2, 2021
Five Fraud Tips Every Business Leader Should Act On
Organizations worldwide lose an estimated 5 percent of their annual revenues to fraud, according to the Association of Certified Fraud Examiner’s (“ACFE”) 2020 Report to the Nations Global Study on Occupational Fraud and Abuse.
Posted on October 28, 2021
Look for These Four Soft Skills in CFO Candidates
When searching for a new CFO, look beyond their technical skills to determine whether they have soft skills like honesty and resiliency that are necessary to represent your business well and build a positive environment that leads to continued success.
Posted on October 27, 2021
Tax Newsletter: October 2021
In BST's tax newsletter: RSM Tax Insights, Lockdown on Federal Tax Proposals for Individuals and Businesses, Tax Consequences of Offering Innovative Benefits, How are Traditional IRA Withdrawals Taxed, What's and IP PIN and Should You Have One for Protection, Learn the Tax Score for Fantasy Sports.
Posted on October 19, 2021
Child Support Modifications and Spousal Maintenance Tax Analysis in New York
This article discusses the unique circumstances when parents have equal time with the children and the effect the Tax Cuts and Jobs Act of 2017 had on alimony.
Posted on October 12, 2021
Exclusion & Deduction: Taxpayer Knocks Out Commissioner
In its interesting October 4, 2021 decision in Charles H. Leyh v. Commissioner of the Internal Revenue Service, the tax court decided in favor of the taxpayer and concluded the paying spouse could both exclude from income health insurance premiums deducted from payroll under a cafeteria plan and deduct as alimony the portion of those premiums covering the recipient spouse pursuant to a pre-2019 pendente lite agreement.
Posted on October 5, 2021
Court Affirms Discounts Allowed For Gifts Of Fractional Interests
On September 24, 2021, Judge Alvin W. Thompson of the United States District Court of Connecticut denied a motion made by the IRS asking the Court to conclude that no discount should be available for a gift of a fractional interest unless the taxpayer held such interest in fractional form before the gift.