If you’re getting ready to file your 2022 tax return, and your tax bill is higher than you’d like, there may still be an opportunity to lower it. If you’re eligible, you can make a… Read More »CPA Forensic: There still may be time to make an IRA contribution for last year
Many people began working from home during the COVID-19 pandemic — and many still work from their home offices either all the time or on a hybrid basis. If you’re self-employed and run your business… Read More »CPA Forensic: Do you run a business from home? You may be able to deduct home office expenses
Even before the pandemic and “the Great Resignation” that followed, construction businesses were facing a shortage of skilled workers. Recent events have only exacerbated the problem. And the skilled labor shortage doesn’t just make it… Read More »Emil @ CPA Forensic: How construction companies can cope with the skilled labor shortage
If you’re a parent, you may be confused about the rules for claiming the Child Tax Credit (CTC). The rules and credit amounts have changed significantly over the last six years. This tax break became… Read More »Forensic CPA – Child tax credit: The rules keep changing but it’s still valuable
Merger and acquisition activity dropped dramatically last year due to rising interest rates and a slowing economy. The total value of M&A transactions in North America in 2022 was down 41.4% from 2021, according to… Read More »Forensic CPA: Key tax issues in M&A transactions
Many businesses in certain industries employ individuals who receive tips as part of their compensation. These businesses include restaurants, hotels and salons. Tip definition Tips are optional payments that customers make to employees who perform… Read More »CPA Forensic: Have employees who receive tips? Here are the tax implications
Many people are more concerned about their 2022 tax bills right now than they are about their 2023 tax situations. That’s understandable because your 2022 individual tax return is due to be filed in 10… Read More »Emil @ CPA Forensic wrote: Answers to your questions about 2023 limits on individual taxes
Most retirement plan distributions are subject to income tax and may be subject to an additional penalty if you take an early withdrawal. What’s considered early? In general, it’s when participants take money out of… Read More »Forensic CPA wrote: Retirement plan early withdrawals: Make sure you meet the requirements to avoid a penalty
The construction industry continues to face supply chain slowdowns, labor shortages and inflation — though the latter of the three has generally moderated a bit as of late. To monitor and optimally respond to rising… Read More »Forensic CPA: 8 ways to insulate your construction company against rising costs
An array of tax-related limits that affect businesses are indexed annually, and due to high inflation, many have increased more than usual for 2023. Here are some that may be important to you and your… Read More »Emil @ CPA Forensic wrote: Many tax limits affecting businesses have increased for 2023