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Deadline Approaching: 2024 Gift Tax Return

If you made significant gifts to your children, grandchildren, or other heirs last year, it’s important to determine whether you’re required to file a 2024 gift tax return. And in

Why Courts Won’t Accept Speculative Financial Projections

Often, business valuation professionals rely on client-prepared financial projections to calculate lost profits and diminution in value. However, courts may exclude expert testimony that’s based on speculative or unreliable projections.

Strategies For Managing The Business Interest Expense Deduction Limit

Businesses were able to claim a tax deduction for most business-related interest expense prior to the enactment of the Tax Cuts and Jobs Act (TCJA). The TCJA created Section 163(j),

Federal Court Ruling Blocks New “White Collar” Overtime Rule Salary Thresholds

A federal district court judge struck down the Biden administration’s new rule regarding the salary threshold for determining whether certain employees are exempt from federal overtime pay requirements. In July

Answers to Your FAQs Regarding Reporting Subsequent Events

Subsequent events are in the spotlight these days. The Public Company Accounting Oversight Board (PCAOB) recently initiated a project to modernize outdated auditing standards related to these events. The PCAOB

The Importance Of Estate Planning For Everyone

Having an estate plan helps make sure your final wishes are clearly documented and respected, even if you’re single and have no children. Estate planning isn’t solely about passing assets

Credit Loss Reporting Rules For Non-Profits

The Financial Accounting Standards Board (FASB) Accounting Standards Update (ASU) No. 2016-13 seems like it would be old news. However, the provision for accounting for current expected credit loss (CECL) went

Can You Itemize Deductions On Your Tax Return?

You may wonder if you can claim itemized deductions on your tax return. Maybe you made charitable contributions and were told in the past they couldn’t be claimed because you

Use Caution With Crypto Investments

In 2025, cryptocurrency fraud could reach unprecedented levels. This is driven by an increased interest in cryptocurrency, little regulatory oversight, and the constant introduction of new coins. Fraud perpetrators no

Home Office Tax Deductions For Business Owners

As a business owner, you may be eligible to claim home office tax deductions that will reduce your taxable income. However, it’s important to understand the IRS rules to help