Author Archives: mgracey

The IRS has begun auditing the use of corporate jets to ensure taxpayers properly allocate business use from personal use for tax purposes. These efforts are part of the agency’s larger strategic plan to increase audit enforcement and improve tax compliance among large corporations, partnerships and high-net-worth individuals. Under current law, businesses may deduct certain […]

The headaches individuals must confront when they are victims of identity theft are complicated by the length of time those crimes go unrecognized. Too often, these scams play out over months and even years without detection. By that point, however, your personally identifiable information (PII) can be in the hands of criminals and the dark […]

Effective Jan. 1, 2024, it is easier for individuals to claim federal tax credits for the purchase of new electric, plug-in hybrid and fuel-cell electric vehicles, but there are fewer cars and trucks that qualify for the full $7,500 credit this year. The clean vehicle tax credit was amended in 2022 as part of the […]

In this episode Director of Forensic and Advisory Services Dan Hughes explains how expert witnesses calculate economic damages in lawsuits.

The passage of the Tax Cuts and Jobs Act in 2017 (TCJA) brought a series of welcome tax breaks to individuals at all income levels. However, with the law calling for many of these provisions to reset in 2026, taxpayers are running out of time to implement new strategies for maintaining tax efficiency and ensuring […]

In this episode Director of Tax Services Richard Cabrera explains why it’s important for S Corps to consider the tax implications before entertaining bankruptcy proceedings.

It can be exceedingly difficult for companies to fill jobs that require specialized skills, such as finance and accounting, especially in a tight labor market with low unemployment. With so many job vacancies available to a limited number of qualified candidates, businesses must use all the resources available to stand out from the pack, build […]

Professional athletes and entertainers, like most taxpayers, must learn to navigate the often-treacherous federal tax code and a broad range of differing tax laws at the state and local level that can increase their tax liabilities and eat into their hard-played earnings. For athletes and entertainers who travel across the country for games and performances, […]

On today’s episode Associate Director Debra Sears shares her thoughts about the importance of cash flow and strategies for making improvements.

The clock is ticking for nonprofit entities, including private foundations, to file annual returns on Form 990 before the May 15 deadline for calendar-year filers. Failure to file or request an automatic six-month extension can jeopardize an organization’s tax-exempt status and result in significant penalties. IRS series Forms 990 are informational documents that most non-profits […]