🖨 Print⏱ 4 min readRecently, IRS Commissioner Danny Werfel spoke of changes within the IRS, announcing several initiatives focusing on high-income earners and partnerships, as well as integrating the use of AI within the agency’s work. According to the commissioner, the initiatives were made possible by additional IRS funding provided by the Inflation Reduction Act. … Continue reading “IRS Plans to Use AI and Ramp Up Enforcement on Millionaires, Partnerships and Crypto”
🖨 Print⏱ 3 min readSince tax time isn’t until next April, organizing your documents right about now might not be top of mind or even something you want to do. However, if you don’t want to have to scramble come springtime, you might want to organize your paperwork all year long. Here’s why: It expedites … Continue reading “How to Organize Your Tax Documents”
🖨 Print⏱ 4 min readYou can work and still receive Social Security benefits, but how much you receive depends on a number of factors. First, if you do plan to continue working after becoming eligible to receive benefits, you might consider delaying filing for benefits for as long as possible. That’s because the earlier you … Continue reading “Work and Social Security Benefits”
🖨 Print⏱ 3 min readMAHSA Act (HR 589) – The Mahsa Amini Human Rights and Security Accountability (MAHSA) Act is a bipartisan bill that was introduced on Jan. 27 by Rep. Jim Banks (R-IN). The purpose of this bill is to impose sanctions on the leaders of Iran for supporting human rights abuses and terrorism. … Continue reading “Sanctioning Terrorist Activities by Iran, Accelerating Disaster Assistance and Expanding Healthcare Opportunities for Native Americans”
🖨 Print⏱ 3 min readWith accounting fraud and financial reporting mistakes creating a lack of confidence, understanding how financial reporting mistakes occur and are detected is an important topic. According to the Association for Federal Enterprise Risk Management and the U.S. Securities and Exchange Commission, the first nine months of 2018 saw 8.8 percent more … Continue reading “Common Financial Reporting Mistakes and How to Correct Them”
🖨 Print⏱ 4 min readMarketing efforts today depend on collecting, analyzing, and leveraging data to make informed decisions. Therefore, business owners need to understand how to harness the power of data and personalization to create targeted campaigns that drive growth. Importance of Data and Personalization in Modern Business Businesses today collect loads of data, enabling … Continue reading “How Businesses Can Leverage Data and Personalization for Targeted Campaigns and Growth”
🖨 Print⏱ 3 min readYou wake up in the middle of the night. Heart racing, drenched in sweat, and breathing heavily. Thankfully, it was just a nightmare when the IRS showed up at your doorstep unannounced. Recently, however, this was the reality for some taxpayers – and not just a bad dream. The IRS just … Continue reading “IRS Announces End of Unannounced Taxpayer Visits (Mostly)”
🖨 Print⏱ 4 min readEven though numbers are probably the biggest thing in an accountant’s wheelhouse, getting people in the door with the right words in your bio can make all the difference in the world. Here are a few tips to make sure that how you present yourself to the public via your wording … Continue reading “How to Write an Awesome Accounting Bio”
🖨 Print⏱ 3 min readThe IRS recently issued an important ruling on the taxability of cryptocurrency staking rewards, determining that staking rewards are essentially “income” and, therefore, taxable upon receipt and not deferrable until sale or swapping. Below, we will look at the ruling in more detail and what it means for taxpayers. But first, … Continue reading “IRS Ruling: Crypto Currency Staking Rewards Are Taxable When Received”
🖨 Print⏱ 5 min readA widow or widower is eligible for a survivor’s benefit from Social Security even if they never worked – as long as the deceased spouse qualified for benefits based on his or her own income record. Also, note that surviving spouses must have been married to their most current spouse for … Continue reading “Widow/er Social Security Benefits”
