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IRS Auditor

What do IRS auditors know about your industry?

  • September 28, 2021
  • Audit

When preparing for a business audit, an IRS auditor references a handy guide called an IRS Audit Techniques Guide (ATG). An ATG provides information on a specific industry and reviews potential issues on the taxpayer’s return. These ATGs are available…

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Small Business

Tax Breaks Small Businesses Should Consider

  • September 27, 2021
  • Tax

It may seem premature, but it’s never too early to start tax planning for small businesses. Here are three tax breaks to consider. 1. Claim bonus depreciation or a Section 179 deduction for newly purchased assets Current tax law allows…

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20 FAQs About RMDs

After a one-year hiatus due to the COVID-19 pandemic, owners of qualified retirement plans and IRAs must adhere to the rules for required minimum distributions (RMDs). The RMD rules are tricky and could result in a substantial tax penalty if…

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Clock Coins Piggy Bank

Retirement Savings: Are You Currently On Track?

Employment disruptions caused by the COVID-19 economic slowdown have scrambled the retirement saving strategies of many Americans. According to a recent survey, nearly half of employed Americans either reduced or suspended their retirement savings during the pandemic. Moreover, around 30% of…

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