Top Tips to Beat Financial Fraud and Stay Protected
Financial fraud refers to any deceptive process designed to obtain assets or money through dishonest means. This type of fraud can take many forms (i.e., phishing emails, identity theft, credit / debit card fraud, tax return fraud) and the losses can span from several hundred to several million dollars. Financial fraud is a serious […]
Why is the tax filing deadline April 18 this year?
Most taxpayers are well-aware that the tax filing deadline is April 15, but in some years (like this year), the filing date may be delayed. For the 2023 calendar year, the filing deadline was bumped to April 18. Why is the tax filing deadline April 18 this year The filing deadline to submit 2022 tax […]
IRS Opens 2023 Dirty Dozen With Warning
The IRS has issued a warning about Employee Retention Credit (ERC) claims as part of its 2023 Dirty Dozen list of tax scams. The Dirty Dozen is an annual list of the most common and aggressive tax scams that taxpayers should be aware of. According to the IRS, the ERC is a valuable tax credit […]
March 15th Deadline for Partnerships (Form 1065)
If you need to file form 1065, your filing deadline is fast approaching. Below are just a few of the things that the IRS wants you to keep in mind. Things to know about form 1065 The IRS notes that partnerships must file an information return to report their income, gains, losses, deductions, credits, etc. […]
Are you on track for your retirement savings?
It’s never too early to start thinking about retirement, and if you’ve already started setting money aside, it’s always good to do a yearly evaluation to check to see if you’re on track to meet your retirement savings goals. Although Social Security benefits can provide you with some income once you leave the workforce, most […]
What Floridians need to know about the extended filing deadline due to Hurricane Ian
The IRS is reminding victims of Hurricane Ian have until February 15, 2023, to file various individual and business tax returns and make tax payments. Individuals and households affected by Hurricane Ian that reside or have a business anywhere in the state of Florida qualify for tax relief. (The IRS automatically identifies taxpayers located in […]
4 Tips to Prevent Expense Fraud to Know About
Expense fraud costs businesses millions of dollars each year. Suffice to say, if your staff members have expense accounts, you’ll want to make sure what they’re submitting is on the up-and-up. Below are 5 tips you can take to help prevent fraud. Define your policies Make sure your employees understand what they can and cannot […]
SBA Issues Fact Sheet About Hurricane Ian Assistance
Homeowners, renters, and businesses located in disaster areas may qualify for low-interest, long-term disaster relief loans for losses not fully covered by insurance or other means. The U.S. Small Business Administration (SBA) offers affordable financial help to businesses and private non-profit organizations in declared disaster areas. The SBA has recently issued a fact sheet about […]
IRS reports significant increase in texting scams; warns taxpayers to remain vigilant
The Internal Revenue Service is warning taxpayers of a recent increase in IRS-themed texting scams aimed at stealing personal and financial information. So far in 2022, the IRS has identified and reported thousands of fraudulent domains tied to multiple MMS/SMS/text scams (known as smishing) targeting taxpayers. In recent months, and especially in the last few […]
Claiming Disaster Related Losses after Hurricane Ian
Tax Benefits for Costs Not Covered by Insurance The President has declared a federal disaster area for all counties throughout the states of Florida, North Carolina, and South Carolina due to the storm. In addition to the relief related to tax deadlines (in general to February 15, 2023) and payments for taxpayers who live or have […]