Industry News 

Industry Relevant 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.

Solo 401(k) vs. SIMPLE IRA: What’s Right for Your 2025 Retirement Strategy?

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...

What to Expect in a Deposition: How to Prepare and Protect Yourself

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...

Most Recent Industry News

Solo 401(k) vs. SIMPLE IRA: What’s Right for Your 2025 Retirement Strategy?

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...

What to Expect in a Deposition: How to Prepare and Protect Yourself

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...

Why Every Business Should Consider an Accountable Plan

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...

Selling the Family Business: How to Do It the Tax-Smart Way

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...

Tax-Savvy Strategies for Seniors and Near-Retirees

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...

Work Opportunity Tax Credit: A Win-Win for Employers and Employees

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...

Cybersecurity and Your Retirement Plan: What Sponsors Must Know

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...

Think Like a Lender: Strengthen Your Business Loan Strategy

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...

How to Take Money Out of Your C Corporation Without Paying Twice

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...

QuickBooks: 4 Custom Settings Every Business Should Explore

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...

ESOPs: A Tax-Efficient Path for Business Owners in 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...

Large Cash Payments Could Trigger IRS Filings—Are You Prepared?

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...

Hiring Smart: Unlock Tax Savings with the Work Opportunity Tax Credit

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...

Why Construction Firms Must Invest in Bookkeepers

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...

Protecting Your Business: The Do’s and Don’ts of Using Independent Contractors

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...

QBI Deduction: A Lifeline for Small Business Owners

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...

The End of Paper Checks: What the IRS’s Digital Shift Means for You

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...

Seeing the Big Picture: How to Use QuickBooks for Strategic Financial Insights

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...

Women Are the Future of the Manufacturing Industry

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...

Tips to Keep Your Employee Benefit Plans Healthy

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...

Update On Social Security Benefits and Tax Law Changes

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...

QuickBooks Online: How to Create Accurate Customer Profiles

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...

Tax Obligation: How to Properly Report the Cost of Goods Sold (COGS)

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...

QuickBooks: Tips and Tools

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.

S Corporation Owners: How to Determine Reasonable Compensation?

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...

Save Time By Using QuickBooks Online Recurring Transactions Feature

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...

Choosing the Right Business Entity for Gig Workers

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...

Nine Tax Credits to Help Minimize Your Taxes

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...

How to Determine If Long-Term Care (LTC) Insurance is Right for You?

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...

Use Audits to Assess Your Organization’s Financial Health

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...

C Corporations: Shareholders Compensation vs. Dividends

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...

How to Find Tax-Savings When it Comes to Sec. 1031 Exchanges?

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...

Tax Burdens: How Does Your State Measure Up?

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...

Tax & Compliance Implications for Business Entities

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...

Electric Vehicle and Homeowner Tax Credits Ending After 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...

Why You Should Be Using QuickBooks’ Bill Pay Tools

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...

Tax Law: Recovering Losses from Financial Scams

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.

Trusts and Estates: How Income Distributions are Taxed

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...

Eight Major Life Events That Affect Your Taxes

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...

Tax Implications for Business Owners Transferring Ownership to the Next Generation

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.

Tax Questions for Recent College Grads

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...

Use QuickBooks to Issue Credit Memos and Refunds

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...

Everything to Know About Quarterly Estimated Tax Payments

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...

Tax Breaks For Selling Your Vacation Home

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...

Should Not-for-Profits Outsource Their Accounting Functions?

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:

The New SIMPLE Contribution Rules are Not So Simple

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...

Five Tips to Help Navigate Tariffs

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...

Seven Best Practices for QuickBooks Users

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...

3.8% Medicare Tax on Investment Income

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%...

Tax Planning Strategy to Consider: Qualified Charitable Distributions

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...

Use QuickBooks to Reconcile Accounts

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.

Financial Struggles Among Retirees

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...

Payroll Management for Business Owners

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

Protect Yourself and Your Business from an IRS Audit

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...

FinCEN-Related Fraud is on the Rise

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...

12 Strategies to Strengthen Cash Flow

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.

Do You Owe Self-Employment Tax?

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

Stock Redemptions for C Corporations and S Corporations

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

QuickBooks Online: Use the Automated Invoice Reminder Emails Feature

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

Use Catch-Up Contributions to Secure Your Retirement Goals

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

Small Businesses are Hiring Family Members for Tax Advantages

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.

Manage Student Loan Debt Carefully

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

Use QuickBooks For Project Management Features and Tracking

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

Tax Rules for Claiming Bad Debt Loss Deductions

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

Scammers Targeting Seniors and Older Adults

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.

Use QuickBooks Online to Manage Products and Services

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

How to Determine if a Partnership Exists?

It is not always straightforward to determine if your business or investment venture with multiple owners is considered an unintended partnership.

Ten Tax Myths Facing Business Owners

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.

How to Keep Intellectual Property from Leaving with Retiring Employees

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...

Understand the Different Types of Tax Credits

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

Take Your Manufacturing Business International

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

Legal Risks Businesses and Business Owners Must Navigate

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.

C Corporations and Accumulated Earnings Tax

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.

Five Strategies to Consider For Your 2024 Personal Tax Return

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.

Roth IRAs: What to Know about Withdrawals and Taxes

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

Real ID and Requirements for U.S. Travel

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

How to Properly Report Digital Assets on Your Tax Return

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

Should You Consider Setting up a Limited Liability Company (LLC)?

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

Tax Rules for Amateur and Professional Gamblers

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

The Alternative Minimum Tax (AMT) Explained

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

Manufacturers Can Use Segmented Income Statements to Boost Profits

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

Four Key Steps to the Financial Independence, Retire Early (FIRE) Movement

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.

Eight Personal Tax Deductions You Might Not Know About

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.

Apply the Method of Lean Manufacturing to Your Business

In this article, you will find eight steps to incorporate lean manufacturing into your business to reduce waste and increase profitability.

Profit-Sharing Plans For Businesses

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

Lower Shipping Costs with Proper Freight Classification

Manufacturers can follow the National Motor Freight Classification (NMFC) system and criteria to lower shipping and freight costs.

Crypto, Real Estate, and Private Equity Investments Are Gaining in Popularity

Looking to invest and have a diverse portfolio? Real estate, cryptocurrencies/digital assets, and private equity continue to grow in popularity

Is Your Business or Corporation Closing?

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

Form 990 Red Flags That Can Lead to an IRS Audit

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

Small Business Bankruptcies Are On The Rise

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

Insight Into Estate and Gift Tax For 2025 and Beyond

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

Is Gig Work Right For You?

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.

Important 2025 Federal Tax Figures and Information to Know

Stay up to date on important 2025 federal tax information such as standard deductions, qualified plan limits, business equipment, and much more.

Factoring Accounts Receivables for Cash

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

Locating a Lost or Missing Life Insurance Policy

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

Joint Ventures in the Construction Industry

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.

Last Minute 2024 Tax Breaks for Business Owners

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.

Backdoor Roth IRA Conversions

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...

Year-End Planning: Five Tips to Help Cut Your 2024 Tax Bill

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

How to Keep Records and Minutes at Your Business

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.

Retirement Plan Increases for 2025

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

Limitations on Business Loss Deductions

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...

Tax Strategy Involving Section 179 Depreciation Deductions

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

Downsides and Drawbacks to Gift Cards

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

ABC Keystone’s 35th Annual Excellence in Construction Awards

ABC Keystone’s 35th Annual Excellence in Construction Awards

Should You Buy a Condo for Your Child’s College Housing?

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

Protect Your Business From These Common I-9 and E-Verify Mistakes

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.

Tax Benefits: Try Bunching Charitable Donations

When it comes to charitable gift giving, find out if “bunching” charitable donations can lead you to tax benefits.

Available Tax Credits and Deductions for Commercial Buildings

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

Common Tax Terms For Business Owners to Know and Understand

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.

Stay Up to Date on the Kiddie Tax Rules for 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.

How to Create and Ensure a Successful Succession Plan

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.

Check Fraud: Protect Yourself and Your Business

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

A Case For and Against the Fair Tax Act

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.

Conservation Easements Offer Tax Advantages and Increased Scrutiny

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

Take the Necessary Steps to Protect Your Child from Identity Theft

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

Healthcare: Ways to Get Patients to Pay Their Medical Bills

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.

Certify Your Company’s Financial Statements

Should your company or business rely on internal reporting, or should you have an accountant prepare and certify your financial statements?

Estate Planning: Protect Your Wealth with Favorable Gift and Estate Tax Rules

Be proactive in your estate planning now with favorable gift and estate tax rules to help secure your wealth for the future.

Be Aware of Certain TCJA Provisions Set to Expire

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

Don’t Let Your Business Fall Victim to Invoice Fraud

Follow these six steps to help prevent invoice fraud from occurring at your business and avoid financial loss

What is Your Presidential Candidate’s Pledge on Taxes?

Find out where the presidential candidate's stand on taxes and tax strategy including corporate tax, tariffs, social security and much more. Stay up to date on each candidate's tax proposals

Employer Sponsored Health Savings Accounts

Here is everything you need to know about employer-sponsored health savings accounts (HSAs) and if it is the right decision for your business. Follow this article to learn about the tax savings

Eight Step Wealth-Management Plan to Enhance Financial Security

Are you concerned about uncertain times and your financial situation? Follow these eight wealth-management steps and with some insight you can secure your finances for the future

Is Your Business Putting You at Risk of a Heart Attack?

Follow this article to find out if stress from your business is directly increasing your risk of a heart attack and heart disease. Find out symptoms, risk factors, and six tips to alleviate stress

Tax-Smart Option for Investing in Real Estate

Looking for a tax-savvy real estate investment? Try looking into single-member limited liability companies (SMLLCs) as this option can provide tax advantages to all types of investors.

Six Ideas to Execute a Successful Return To The Office (RTO)

Tips to encourage your employees back to the office. This article provides six key ideas for a successful return to the workplace at your business.

Paid Sick Leave Can Provide Benefits to Your Business

Paid sick leave benefits both employers and employees. Find out how paid sick leave affects workers in the construction, healthcare, and food service industries and how it pays off for employers

Important Transfer Pricing Guidance For Intracompany Loans

The rules and regulations on transfer pricing can be complex. Make sure you stay up to date on the latest IRS guidance on the arm's length standard when evaluating interest rates on intracompany loans

Seniors: Think Twice Before Selling Your Highly Appreciated Home

Follow this article for tax-saving solutions on surging real estate and why seniors with highly appreciated homes should avoid selling

Cross-Training Employees to Keep Your Business Running Smoothly

Cross-training your employees can increase productivity, and teamwork, and keep your business running smoothly when the unexpected occurs. Follow this article for seven helpful tips

Identify High-Potential Employees at Your Business

Follow this article for guidance on spotting and retaining top performers at your business or company

Business Owners: Know the Rules Regarding Charitable Donations

Business owners need to know the rules on charitable donations, so they receive the most tax savings and comply with the IRS substantiation requirements

Accountability in Action with Kurt Gehman: Property & Casualty Insurance

In this episode of Accountability in Acton, Kurt Gehman, Vice President/Principal at McConkey Insurance & Benefits joins us to explore the current state of Property & Casualty Insurance

Create a Safe Workplace At Your Business

Act now to prevent accidents, liability, and financial risk at your business by creating a workplace safety program. Check out this article for tips and key obligations as a business owner

Top Ten Tax Breaks on Extended Returns

The deadline for filing your extended 2023 federal income tax return is October 15, 2024, and it is approaching fast. Follow this article for the top ten tax breaks and how to increase your refund.

Capital Gain Tax Exclusion and Home Sale Tax Laws to Know

If you are a homeowner, it is important to know and understand the capital gain tax exclusion on real estate and home sales

Not-For-Profits Can Impress Donors With Financial Statements

How not-for-profit organizations can give the best first impression to donors with financial statements and form 990

Travel Insurance-Do You Need It?

Travel can be stressful, dangerous, and expensive. If traveling is your passion or if you recently booked the trip of a lifetime, should you purchase travel insurance and is it worth it?

Protect Your Business from Payroll Fraud

Payroll fraud is common and can be a hazard to any business in any industry. This article provides various types of payroll fraud schemes and prevention tips to help protect your business

Savvy Strategies to Purchase Your Dream Home

Are you looking to purchase a new home or your dream home in today's highly competitive real estate market? Follow this article to find the right strategy and situation for you

Managing Remote Employees: Five Issues Business Owners Should be Aware of

When it comes to managing remote employees, business owners should be aware of these five issues and consider the pros and cons of working from home

8 Financial Management Tips for Women in Today’s Workforce

If you are a woman looking for money management tips in today’s challenging and ever-changing workforce, follow these eight steps to effectively take control of your finances

What Can Your Business Do Now to Lower Taxes for 2024?

This is the time of year to evaluate how your business is operating and examine what options you can take now to lower your 2024 taxes.

529 College Savings Account Withdrawal Options

Have a child or grandchild getting ready for college? Find out the advantages of a 529 plan and the rules and regulations for using the account and withdrawing funds

Retirement Plan Options for a Self-Employed Business Owners

Self-employed and small business owners looking to make tax-saving contributions to their retirement plan should check out a solo 401(k) plan and a defined benefit pension plan

Tax Planning to Consider in the Event of a Divorce

There are important tax planning options to consider if you are getting divorced and selling a home. Find out if you can take advantage of the valuable home sale gain exclusion

Cost of Starting a Business and How Does It Affect You From a Tax Perspective

If you started a business or are looking to start a business, take notice of the start-up costs, expenses, and tax rules. In this article, you will find key details on deduction rules

Do You Have a Family Member with a Disability? Try a Tax-Favored ABLE Account

If you have a family member with a disability, have you considered an Achieving a Better Life Experience (ABLE) account? ABLE accounts have complex tax rules and regulations to follow

Using Corporate Jets For Personal Use: Stay Off the IRS’s Radar

If you or your company use a corporate aircraft for personal use, make sure you comply with the IRS and avoid any turbulence with the tax law

How to Plan for Taxable Gains and Losses

Businesses need to understand the tax rules and laws when it comes to gains and losses when selling major assets. Follow this article to find out more:

Tax Law for Deducted Medical Expenses

Under the tax law, medical expenses can be deducted from your tax return if they exceed 7.5 % of your adjusted gross income (AGI). Follow this article to find out the requirements

Your 401(k) Is Maxed Out – Now What?

Retirement Planning: If you maxed out your 401(k), there are several retirement saving options available to invest in to boost your retirement savings

Six Common Scams that Target the Elderly: Don’t Take the Bait

This article goes over six common scams that target the elderly and offers helpful tips to protect and prevent falling victim to these fraud schemes

Find Out if You Qualify for the 0% Tax Rate for Capital Gains and Dividends

Find out if you or your loved one qualifies for the 0% federal income tax rate on long-term capital gains (LTCGs) and dividends.

Sale of a Corporation: Who Owns the Goodwill?

In the sale of a business, is the professional goodwill owned by the corporation or the shareholder-employee?

ACFE Publishes New Study to Help Fight Fraud

Protect your business from fraud. This article goes over the findings of a study by the Association of Certified Fraud Examiners (ACFE) detailing types of schemes, detection methods, and prevention

Manufacturers Can Focus on Key Performance Indicators to Help Evaluate Performance

This article is for manufacturers, highlighting five key performance indicators (KPIs) to track and evaluate your company’s performance and operation goals

Use Catch-Up Contributions to Bolster Retirement Savings

If you are worried that you will not have enough money saved up to live comfortably in retirement, now is the time to look into catch-up contributions and find the best situation for you

Bankruptcy Debt Limits Could Soon Drop for Small Businesses

Are you a small business struggling to pay its bills and considering filing for bankruptcy? Read this article first:

The FTC Issues New Rule Banning Most Noncompete Agreements

A new final rule by The Federal Trade Commission (FTC) bans most noncompete agreements. Follow this article to learn options for employers, the potential upside for workers, and exceptions to the rule

Take Aim at Targeted Worker Tax Credits

Any business owner looking to grow their workforce should look at the Work Opportunity Tax Credit (WOTC). Find out how it works. Who qualifies? Plus, how it can help you save on your tax bill.

The U.S. Department of Labor (DOL) Expands Overtime to Millions of Workers

Employers and employees be aware, that the Department of Labor (DOL) has issued a new rule expanding overtime pay. Find out what it means for you

When is the Right Time to Make Catch-Up Contributions

Catch-up contributions are a golden opportunity to save additional money for your retirement. What are they and how do they work? Find out here:

Tax Credit Cuts Price of Home Energy Audits

Find out more about a home energy audit, home energy audit reporting requirements, and how it can lead to extra tax savings

Close-Up on Pass-Through Entity Tax Laws

In this article, find out the pros and cons regarding pass-through entity taxes (PTETs), how they vary from state to state, and what is the right situation for you

Setting Up a Special Needs Trust

Estate Planning: This article explains how to set up a special needs trust and outlines the requirements to follow so you comply with all the rules and regulations.

Ready, Set, Retire

Thinking about retirement? It is never too early to start planning for your retirement.

Making a Loan to a Family Member to Help with a Home Purchase

Have you considered helping a family member with a residential home purchase due to rising interest rates and home prices? Read this article before offering a “low-interest-rate family loan”

Friendly Advice: Approach Credit Card Debt Carefully

Are you struggling with credit card debt? This article provides helpful strategies for individuals and businesses without selling assets or declaring bankruptcy

How New Retirement Plan Emergency Savings Accounts Work

New this year, is an option for employees to build an emergency savings. See how these saving accounts work from matching contributions to investment guidelines.

2 Important Breaks for Mature Taxpayers to Consider

Find out if it is the right time to lower your tax bill by making deductible catch-up contributions to traditional IRAs or company plans.

Brush Up on Campaign Contributions Rules

As it is a presidential election year, it is important to know the rules and limits for both individuals and businesses contributing to a candidate.

Contributing to a Company Roth 401(k) Account

Does your company offer a designated Roth account (DRA)? What is right for your situation and should you contribute?

Consider Taxes When Moving to a New State

Are you moving to another state for work or recently acquired a remote position to work from anywhere? It is important to be aware of state tax rules and implications.

Growth Strategies: How to Take Your Business to the Next Level

Are you finding it more and more challenging to grow your business? This article addresses key tips and strategies to help take your business to the next level.

Don’t Overlook the Child Care Tax Credit

Find out if you qualify and do not miss out on this tax-saving opportunity for your business

Rules for Charitable Gaming Activities

Games such as bingo and poker can seem like a fun and easy way to increase revenue for your not-for-profit organization but be aware of the tax rules and local laws.

Chart a Tax Course for Business Travel

Do you travel for business? Recordkeeping is essential for both national and international travel, be sure to know the tax rules for deducting business travel expenses. Find out the tax benefits:

FAQs on the General Business Credit

What do you know about the General Business Credit (GBC)? Which businesses are eligible? What is included in the credit? Can you claim the credit? Find out here:

Tax Blueprint for the Construction Industry

If you work in the construction industry, make sure you comply with the current tax laws and regulations. In this article, find out common business expenses that can be deducted

How to Avoid Tax Pitfalls when Making Corporate Loans to Shareholders

This article explains how business owners or shareholders thinking of withdrawing funds from their corporation can stay within the tax rules and avoid consequences.

8 Red Flags for IRS Audits

Are you afraid of getting your tax return audited by the IRS? Watch out for these eight red flags that can trigger an IRS audit.

Should Married Couples File Jointly or Separately?

After you get married, there are two ways to file your federal income tax return-married filing jointly or married filing separately. Find out which option is best for you

Estate Planning Isn’t Just for the Wealthy

Did you know Estate Planning is important for all individuals and income levels, not just the wealthy? Find out the ways you can benefit:

Examine 6 Factors to Classify Workers as Employees or Independent Contractors

Business owners, be aware of a new rule that provides six factors to determine if the employment status of a worker should be classified as independent contractor or employee.

Know What to Expect From Taxes in Retirement

Are you saving and planning to set yourself up for a relaxing retirement? Follow this article to find out what you need to know about paying taxes after you retire. Plan now, to protect your nest egg.

Will You Qualify for the Home Sale Gain Exclusion?

Selling your home? Do you understand and meet the requirements for the home sale gain exclusion? Find out if you qualify and if a home office can affect your home sale gain exclusion.

Withdrawing Cash from Your C Corporation

C Corporations: there are tax-savvy options available to get cash out of your business. Find out the rules and requirements of these five options and how to avoid double taxation.

Key Rules for Home Office Deductions

Do you work from home? Find out everything you need to know about home office deductions and tax savings here:

Sailing the Seas of Business on a Healthy Cash Flow

Managing a healthy and successful cash flow at your business depends on both the sales and disbursements cycles. Find out more here:

Estate Planning for Personal Property: Why You Should Sweat the Small Stuff

Often, estate planning will focus on assets, investments, and business interests, but do not overlook smaller personal properties such as jewelry, clothing, artwork, furniture, and other items

Do You Qualify for the Favorable HOH Status?

Do you consider yourself the head of household (HOH) as your tax filing status? Make sure you understand the rules and three main requirements to qualify as HOH to receive the savings.

Installment Sales Can Be a Win-Win for Buyers and Sellers

Find out how an installment sale works, the tax implications for both buyers and sellers, and what qualifies as an eligible transaction.

Help Wanted: Hiring Your Kids to Work for Your Small Business

Are you a business owner and hiring for extra help? Consider these tax-saving advantages if you hire your child at your business. Find out the tax advantages and rules in this article

Social Security Tax Update: How High Can It Go?

It is important to understand how the Social Security tax impacts employers, employees, and self-employed individuals.

7 Tasks For a Successful Nonprofit Finance Committee

Are you on a not-for-profit finance committee? This article explains seven key responsibilities of the finance committee to ensure the overall success of the organization.

The Uniform Commercial Code and What it Means to Your Business

What is the Uniform Commercial Code (UCC)? If you are a business owner or conduct business in other states, check out this article on the UCC:

Get the Most From Accounting Software

Does your business utilize accounting software for bookkeeping tasks? The right software can assist with managing, reporting, and analyzing. Find out if you are getting the most from your software

Exploring Alternative Financing Options for Your Business

Getting traditional financing like bank loans for your small business or startup can be a challenge. This article outlines alternative financing options.

New Twists and Turns Taken by EV Credits

New tax rules for the purchase of an electric vehicle (EV). Check out this article for changes made in 2023 and 2024 for tax breaks and credits

Does the Marriage Penalty Still Exist Today?

If you recently got married or are thinking about getting married, there are important tax filing options and timing considerations to keep in mind

Bask in Tax Breaks for Vacation Home Rentals

Looking for a tax break? If you own a vacation home such as a cabin in the mountains or a house on the beach and rent it out, you could get a tax deduction.

Navigating the Risks of Check Fraud

Attention businesses and business owners that issue and accept paper checks! Check fraud is still abundant and can happen to anyone, don’t let it happen to you.

Can I Claim the QBI Deduction for My Small Business?

Attention business owners! Are you a small business owner wondering if you can claim the qualified business income (QBI) deduction for tax breaks? Follow this article to find out more

Can You Claim Your Parent as a Dependent?

Did you know that if you can claim your parent as a dependent, you could be looking at significant tax breaks? Follow this article to find out the requirements and learn more:

Dos and Don’ts for Business Expense Deductions

Are you a business owner trying to determine which expenses can and can’t be deducted to help lower your tax bill? Find out the tax rules when it comes to travel, entertainment, food and beverage...

How to Improve Your Construction Business Credit Rating

Are you in the construction industry and looking to improve your business credit rating? This article outlines how business credit works and key steps you can take to build better credit:

Make the Most of the General Business Credit

General Business Credit (GBC). What is the General Business Credit? What’s included in the General Business Credit? How can General Business Credits provide tax-saving advantages?

SECURE 2.0 Changes that Become Effective in 2024

Thinking about retirement and looking for retirement savings? Check out this article for an overview of SECURE 2.0 tax-saving provisions that take effect in 2024:

Tax Breaks for Employer-Paid Education Expenses

Attention business owners! Are you hiring and looking to fill open positions for skilled workers? Try investing in your employee’s education to enhance skills and take advantage of tax breaks

Tips on the Medicare Appeals Process

Did you know there are five levels to the Medicare appeals process? Check out this article to learn more about the five levels and tips on best practices for handling appeals.

New FAFSA Form Now Available

The Free Application for Federal Student Aid (FAFSA) is open and available for 2024-2025. Here is what you need to know regarding filing requirements and the latest changes

Safely Expanding Your Business Operations

Knowing when and how to expand your business can be a challenge. This article outlines five steps for success and addresses key features for business owners to keep in mind for growth opportunities.

Answers to Common Payroll Questions

Is your company hiring? Understanding payroll, payroll taxes, and withholding requirements can be a challenge. Follow this article to make sure you are following the rules and get answers

Building for the Future: IRAs for Teens and Young Adults

Is it time for your teen or young adult to start saving for retirement?

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