Industry News
With the constant swirl of changes in the business world, government regulation, and complexities of operations, it’s hard to stay on top of what most impacts your organization. Walz Group strives to provide you with news and information that is timely and relevant to you.
Big tax savings, flexible contributions, and long-term growth—but which plan delivers more? If you're self-employed or run a small team, this comparison helps you pick the smarter path to retiremen...
October 14, 2025
Being called to give a deposition can feel intimidating, but preparation is key. Depositions are a critical part of the discovery process, and what you say under oath can directly impact the out...
October 3, 2025
Business expenses like travel, meals, and supplies are common—but how you reimburse them can have major tax consequences. With recent tax law changes eliminating deductions for unreimbursed employe...
October 1, 2025
When it’s time to sell a family business, the stakes are high—not just emotionally, but financially. Proper planning and smart tax strategies can make a significant difference in how much of the...
September 30, 2025
Older taxpayers may qualify for powerful tax-saving opportunities, including higher contribution limits, charitable giving strategies, and medical expense deductions. Learn how to take advantage of...
September 24, 2025
In today’s competitive labor market, finding the right employees can be tough. The WOTC provides a powerful incentive for hiring individuals from eligible groups, helping businesses strengthen thei...
September 23, 2025
While many organizations invest heavily in protecting employee and customer data, qualified plans are often left out of cybersecurity discussions—but they shouldn’t be. From data breaches to asset...
September 19, 2025
Need capital to grow your business? With banks becoming more selective, business owners must be strategic when applying for loans. Before approaching a bank, it’s critical to understand how lenders...
September 17, 2025
C corporations offer many benefits—but withdrawing cash can be costly if done wrong. Fortunately, there are tax-smart ways to avoid double taxation. From shareholder loans to leasing arrangements...
September 16, 2025
Whether you're new to QuickBooks Online or an experienced user, diving into the Sales, Expenses, Time Tracking, and Advanced settings can unlock powerful customization options. Follow this post to...
September 12, 2025
For family business owners looking to transition ownership while minimizing tax impact, selling corporate stock to an Employee Stock Ownership Plan (ESOP) offers a powerful solution. Under current...
September 10, 2025
If your business accepts cash payments over $10,000, you may be required to file Form 8300—and the rules just got stricter. From car dealers to construction contractors and gig workers, many busine...
September 9, 2025
Looking to grow your team and trim your tax bill? The Work Opportunity Tax Credit (WOTC) offers a powerful incentive for hiring individuals from specific target groups—including veterans, SNAP rec...
August 28, 2025
Many bookkeepers in the construction industry lack the specialized knowledge needed to produce accurate financial statements, especially when year-end rolls around. Construction bookkeeping requir...
August 26, 2025
The IRS and state agencies are watching closely. If your business uses independent contractors, understanding the rules is crucial. Follow this post as it outlines the key factors that determine...
August 22, 2025
The Qualified Business Income (QBI) deduction—originally set to expire in 2025—has now been made permanent, offering long-term tax savings for eligible small business owners. Here's what you need...
August 20, 2025
Beginning September 30, 2025, the IRS, Social Security Administration, and other federal agencies will eliminate paper checks, moving to a fully electronic payment system. Check out this post to...
August 19, 2025
QuickBooks isn’t just a tool for tracking transactions—it’s a powerful window into your business’s overall financial health. Try learning from the Insights Page, use Snapshots in your accounting...
August 15, 2025
The manufacturing sector is lacking in women in high-level positions. Here are five best practices to attract and retain women for skilled and high-level positions to continue to move the industry...
August 6, 2025
Is it time to review your company’s benefits? Follow this post to stay in compliance and explore nine key ways you can keep your benefit plans healthy and help your company save money. Find out...
July 30, 2025
Recently, the Social Security Board of Trustees released its 2025 Annual Report. Follow this article to find out what the report revealed and more about social security benefits, including whether...
July 29, 2025
It is important to take the time to enter your customers' profiles in QuickBooks either by manually entering each record or importing the customer files. Once you have completed customer records...
July 25, 2025
If your business manufactures or sells goods, it is important to know what COGS is, how to calculate it and ensure accurate reporting, and what accounting method to choose. Follow this post to find...
July 22, 2025
QuickBooks offers many easy-to-use tools to help your business, company, or organization track cash flow and provide detailed reports on who you owe money and who owes you money.
July 18, 2025
Taxes play a major role in structuring your business, which is why many business owners choose the S corporation designation for tax advantages. See this article for answers to common questions...
July 8, 2025
As a business owner, time is money, so do not waste your time repeating the same process of re-entering data and entries. Instead, use the QuickBooks Online' s recurring transactions feature...
July 7, 2025
For gig workers starting up, you must follow certain tax rules and regulations. This article takes a deep look into tax angles for the two main options (self-employed and S corporation owners...
July 2, 2025
Tax credits are the most valuable tax breaks available to individual taxpayers, such as the child tax credit, higher education tax credit, and residential clean energy credit, just to name a few...
July 1, 2025
The cost of senior care is expensive, and LTC insurance can help cover those costs. In this post, you can find out the cost of long-term senior care, eligibility requirements, tax advantages, and...
June 27, 2025
As not-for-profit organizations face both public and government scrutiny, this article provides insight into internal and external audits, how to prepare for an audit, and the importance of your...
June 25, 2025
How to determine reasonable compensation for C Corporations? Follow this post for the basics of owner’s compensation, double taxation of disguised dividends, and a checklist of factors the IRS uses...
June 24, 2025
Sec. 1031 exchanges can be complex and have strict rules to follow. Find out how it works, specific qualifications, and how to maximize valuable tax breaks and savings. Get all the details in this...
June 20, 2025
Are you retiring, a remote worker, or just thinking about relocating? Do not forget about taxes when making these decisions, as where you live can have a major impact on your tax bill. In this post...
June 18, 2025
Are you struggling to choose the right entity for your business? This post takes a deep dive into five common business structures and how each entity differs as it relates to taxes, paperwork, and...
June 12, 2025
Now is the time to make energy-efficient home improvements or buy an electric vehicle (EV) to claim incentives before they disappear. In this post, you will find what will change under the proposed...
June 4, 2025
QuickBooks bill pay tools can help enter bills, set reminders, and quickly organize your accounts payable. Find out how this tool works and with a couple of clicks, you can have your business...
June 2, 2025
If you fall victim to certain fraud schemes, you may be eligible for tax relief on certain losses. Check out this post for examples of common scams and the requirements to qualify for tax relief.
May 30, 2025
The tax law can be complex when it comes to income distributions from trusts and estates. Follow this article to find out principal vs. income distributions, distributed net income, capital gains...
May 28, 2025
Certain life events such as marriage, divorce, children, and other significant changes can affect your financial situation. It is never too early to begin tax planning...
May 21, 2025
Are you a business owner ready to take a step back, retire, or even pass the business down to a family member to create a legacy? Be aware of the federal tax implications when transferring ownership.
May 20, 2025
If you are a recent college graduate, the subject of taxes can be new and challenging. Follow this post for answers to common tax questions such as if your parents can still claim you...
May 13, 2025
Your business must have a clear return policy for when customers want their money back. Luckily, QuickBooks has the tools you need to give customers their money back including...
May 9, 2025
Do you need to make quarterly estimated tax payments? In this article you can find out who needs to pay quarterly estimated tax payments, what happens if you don’t pay enough, and tips for...
May 7, 2025
As the price of vacation homes and the cost of property insurance have increased, is now the right time to sell your vacation home? If it is, this post offers three tax savings strategies available...
May 6, 2025
Is your not-for-profit organization considering outsourcing all or certain accounting functions to a full-service accounting firm? Check out the advantages and benefits here:
May 2, 2025
Employers: when it comes to a Savings Incentive Match Plan for Employees (SIMPLE), there is a complex set of new rules and tax laws to be aware of. Follow this article for the latest rules for...
April 30, 2025
The landscape is uncertain as tariff policies are rapidly changing but if your business is tariff-affected consider these five strategies to help minimize the impact. Explore the available options...
April 29, 2025
A business’s best practices vary depending on the type of industry but the shared goal to achieve the best possible outcome remains the same. In this post, you will find seven helpful guidelines...
April 28, 2025
Check out this article to understand the types of income and gain included in net investment income, find out if this affects you, and how proactive planning strategies can help reduce the 3.8%...
April 24, 2025
Did you know that you can transfer funds directly from an IRA to a charitable organization through qualified charitable distributions (QCDs)? Follow this article to find out if the QCD strategy is...
April 22, 2025
In this post, you will find five tips to help maintain accurate account balances and ensure the reconciliation process runs smoothly with QuickBooks reconciliation tools.
April 21, 2025
A recent survey from the Transamerica Center for Retirement Studies revealed key financial concerns for many retirees in a fragile and constantly evolving landscape. Follow here for more findings...
April 17, 2025
Avoid these common payroll mistakes that can be costly to your business such as relying on manual recordkeeping, issuing inaccurate W-2s, and misclassifying workers. Follow this post for more examples
April 15, 2025
Both businesses and individuals should keep an eye on these eight common red flags that could trigger an IRS audit such as questionable business deductions, cryptocurrency transactions, and more...
April 9, 2025
Protect your business and assets from the latest FinCEN scams and how to spot them so you do not become the victim. This post covers several types of schemes such as MSB Fraud, Impersonation Scams...
April 8, 2025
If your business or company is struggling to successfully manage cash flow, you will want to follow this article for twelve key steps to maintain a healthy cash flow even during challenging times.
April 4, 2025
If you are a self-employed individual, you will most likely owe self-employment tax on your tax return. Be sure to read this post on self-employment tax and review the outcome of a recent court case
April 2, 2025
Shareholders of closely held corporations looking to convert ownership interest into cash should look into the strategy of stock redemptions. Find out how a stock redemption strategy works
April 1, 2025
If your business is looking to improve cash flow and avoid having to contact customers to collect unpaid invoices, try using QuickBooks Online' s automated invoice reminder emails feature
March 28, 2025
If you are thinking about retirement and not sure if you put enough savings away for your retirement nest egg, do not stress there are strategies available to help achieve your dream
March 26, 2025
Small business owners that hire family members and relatives allow them the opportunity to make money and learn the family business but there are also many tax benefits available.
March 25, 2025
When it comes to higher education, student loan debt can be a real burden on young adults and their families. Here are eight tips to assist with managing student loan debt
March 21, 2025
Does your business need a software program to track projects and provide reports on products and services? Follow here to find out how QuickBooks can be a valuable tool for your small business
March 19, 2025
Follow this article to understand how individuals and businesses should report and claim a deduction for bad debt loss on their tax return. Be sure to stay in compliance with the IRS and tax laws
March 18, 2025
It is important to protect seniors and older adults from falling victim to both in-person scammers and cybercrime. This article provides tips to be on the lookout for.
March 14, 2025
QuickBooks Online offers your business a way to manage products and services both accurately and successfully. Follow here for guidance and tips on overseeing inventory
March 13, 2025
It is not always straightforward to determine if your business or investment venture with multiple owners is considered an unintended partnership.
March 12, 2025
If you are a business owner or high-net-worth individual, don’t fall for these ten common tax myths that can lead to costly mistakes, missed deductions, and an increased risk of an IRS audit.
March 11, 2025
Many baby boomers will be retiring in the next five years and will be walking out the door for the last time, when they do, they will be taking years of experience and information with them...
March 7, 2025
The idea of getting tax credits to lower the amount of tax you owe or to increase your refund sounds great but there are several distinct types of tax credits available
March 5, 2025
There are several global challenges manufacturers are facing when looking to take their business international with exporting, follow this post for financial benefits and support options
March 4, 2025
It is important for businesses and business owners to be aware of and comply with a variety of laws and regulations. This post outlines eight legal risks and federal laws businesses face.
February 28, 2025
Do you operate your business as a C corporation? In this article, you will find common questions regarding accumulated earnings tax (AET) and how to avoid double taxation.
February 26, 2025
The deadline for filing federal income tax is quickly approaching, be sure to check out this article for five ideas to consider to gain tax advantages.
February 25, 2025
You may believe that withdrawals from Roth IRAs are tax free but that is not always the case. Some withdrawals are taxable, especially withdrawals before you are 59 ½
February 21, 2025
Traveling domestically? As summer vacations are just around the corner or if you travel for your business, avoid complications and slowdowns when traveling by having acceptable identification
February 19, 2025
In this article, you will find what the IRS defines as digital assets and common questions for reporting digital assets and transactions on your 2024 tax return for both individuals and businesses
February 18, 2025
A limited liability company (LLC) can work for family businesses and offers many benefits including flexibility, liability protection, and tax advantages. Find out if an LLC is the best choice for you
February 14, 2025
Say you bet on the big game or got lucky at the casino, when it comes to gambling, the tax rules can be confusing for accurately reporting your winnings as taxable income
February 12, 2025
There are many complicated tax rules and laws to follow when it comes to the alternative minimum tax. If you are a high-income taxpayer, check out this post to find out if you owe the AMT for 2024
February 11, 2025
By using segmented income statements, manufacturers can gain deeper insight into performance by identifying lesser-performing segments and providing strategies for boosting their bottom line
February 7, 2025
A popular trend among Millennials is to aggressively save and invest in hopes of retiring early, this strategy is called the Financial Independence, Retire Early (FIRE) movement.
February 5, 2025
In this post, you will find eight tax deductions that you may not be aware of. Examples include charitable travel, state sales tax, and medical expense deductions.
February 4, 2025
In this article, you will find eight steps to incorporate lean manufacturing into your business to reduce waste and increase profitability.
January 31, 2025
Is your business looking to stand out and attract top talent? As an employer, have you considered offering a profit-sharing plan (PSP)? In this article, you can find how PSPs work and common types
January 28, 2025
Manufacturers can follow the National Motor Freight Classification (NMFC) system and criteria to lower shipping and freight costs.
January 24, 2025
Looking to invest and have a diverse portfolio? Real estate, cryptocurrencies/digital assets, and private equity continue to grow in popularity
January 22, 2025
Businesses and business owners have to deal with rising prices, worker shortages, and supply and demand inconsistencies. In many cases, these factors have led to the business closing
January 21, 2025
Don’t let an inaccurate or incomplete Form 990 lead to an IRS audit of your not-for-profit organization. This article outlines seven pitfalls that can trigger an audit and common types of audits
January 17, 2025
Why are bankruptcies on the rise, especially for small businesses? Follow this article to learn more about bankruptcy basics and market conditions contributing to the increase in bankruptcies
January 15, 2025
Estate planning is not just for the wealthy and this is an ideal time to review or update your plan. Follow this article for estate and gift tax changes for 2025
January 14, 2025
If you are a freelancer, contract worker, or a part-timer, this post provides four tips for gig workers to land jobs in the gig economy and important tax rules to be aware of and follow.
January 10, 2025
Stay up to date on important 2025 federal tax information such as standard deductions, qualified plan limits, business equipment, and much more.
January 8, 2025
Is your business short on cash or looking to improve its cash flow? Factoring is an overlooked strategy for business owners looking to convert invoices into immediate cash
December 19, 2024
When a family member passes away, and you are facing hardship, there are free resources and databases available to search for lost or missing insurance policies
December 18, 2024
Check out this post to learn how joint ventures work, potential challenges, and to find the right accounting method to use for your financial statements and taxes.
December 17, 2024
It is not too late for businesses and business owners to cut taxes in 2024 and gain advantages. Be sure to take action before December 31st.
December 10, 2024
Looking for a retirement savings strategy? The tax rules and regulations for a backdoor Roth IRA conversion can be tricky but if it is the right situation for you, it can be a smart move for...
December 5, 2024
Do not let the holidays distract you from end-of-year tax planning and savings. This article provides five helpful tips to lower your 2024 tax bill
December 3, 2024
It is important to make sure your business is running smoothly by properly keeping and maintaining records, books, and minutes to comply with state law.
November 22, 2024
Can you believe the 2025 tax year is almost here? Follow this post to stay up to date on the upcoming increases and changes that will affect 401(k) and 403(b) plans, IRAs, and other retirement plans
November 21, 2024
Business owners that incur losses or have a down year should be aware that business loss deductions face several rules and limitations such as at-risk rules, passive activity rules, and other...
November 19, 2024
Year-end is fast approaching and laws involving business taxes can be complex so be sure to understand and coordinate first-year Section 179 deductions with first-year bonus depreciation deductions
November 13, 2024
With the holidays fast approaching, are you planning on giving gift cards to family, friends, and co-workers? Gift cards can be a convenient gift, but it is important to read the fine print
November 12, 2024
ABC Keystone’s 35th Annual Excellence in Construction Awards
November 11, 2024
If you have a child in college or are preparing to go to college, you may be wondering what housing option is best. For some, it may be worth buying a condo as an investment for tax advantages
November 7, 2024
As a business owner, it is important to protect your business by avoiding these ten common I-9 and E-Verify mistakes to make sure you comply with federal and state laws.
November 6, 2024
When it comes to charitable gift giving, find out if “bunching” charitable donations can lead you to tax benefits.
November 5, 2024
If you are a business owner and own your office, building, or facility, follow here for seven common tax deductions and credits that you can claim
October 30, 2024
Navigating complicated taxes and tax laws can be a challenge for both business owners and individual taxpayers. Check out this post highlighting 20 key tax terms to know and understand.
October 29, 2024
When it comes to the “kiddie tax" it is important to know the rules, how to calculate, and ways to minimize the kiddie tax. Follow here for key strategies and tips.
October 25, 2024
Business owners, now is the time to address your succession plan to preserve your business and legacy. Follow this article for key strategies and to ensure a successful succession.
October 22, 2024
Check fraud is on the rise and is still a scheme used by criminals. Take the steps to lower the risk of check fraud at your business or organization if you still write and accept paper checks
October 16, 2024
Follow this article for a history lesson on the Fair Tax Act, cases for and against the Fair Tax Act, and what the future could hold on this tax issue.
October 11, 2024
Conservation easements can be a great way for taxpayers to achieve large tax deductions, but you must be in compliance and follow strict rules to achieve these tax advantages
October 8, 2024
It is important to know how cybercriminals target children’s data and personally identifiable information (PII). There are key steps to take to help protect your child’s identity from theft and scams
October 1, 2024
If you are a physician or healthcare professional getting patients to pay their bills can be a challenge. Follow this article for tips on receiving payment and how to avoid using a collection agency.
September 27, 2024
Should your company or business rely on internal reporting, or should you have an accountant prepare and certify your financial statements?
September 24, 2024
Be proactive in your estate planning now with favorable gift and estate tax rules to help secure your wealth for the future.
September 20, 2024
Business owners be prepared for expiring provisions of the Tax Cuts and Jobs Act (TCJA). Follow this article for five important provisions that may soon end and how to tax plan
September 18, 2024
