Author Archives: mgracey

In this episode, Director of Forensic and Advisory Services Scott Bouchner, CMA, CVA, CFE, CIRA,  shares how lost profits calculations are used in dispute resolution matters.

U.S. taxes are based on a pay-as-you-go system, in which individuals either have taxes withheld from their paychecks or make estimated tax payments directly to the IRS four times a year. These quarterly tax payments made every three months typically apply to business owners subject to self-employment tax and to individuals who receive income in […]

The $10,000 annual cap on state and local tax (SALT) deductions introduced to the tax code in 2017 during President Trump’s first term is set to expire at the end of 2025. That could be good news for top-earning taxpayers in high-tax states, including California, Connecticut, New Jersey and New York, who have had to […]

Criminals are constantly developing new and more elaborate ways to deceive taxpayers, steal their identities and cheat them out of their hard-earned financial assets. To help protect yourself from becoming a victim of these crimes, the IRS annually publishes a list of the “Dirty Dozen” most common schemes and scams for which you should be […]

In this episode Director of Tax Services John Ebenger, CPA, shares the differences between real estate investors and dealers and how each classification impacts taxes.

On March 26, 2025, the Financial Crimes Enforcement Network (FinCEN) published an interim final ruling lifting a previous requirement for U.S. companies to report beneficial ownership information (BOI) under the Corporate Transparency Act (CTA). At the same time, however, the ruling reinforces a reporting requirement for a narrower scope of foreign companies. Domestic entities and […]

U.S. persons, businesses, trusts and estates with 10 percent or more ownership interest or voting control over a foreign business enterprise in fiscal year 2024 have a quinquennial requirement to file a Bureau of Economic Analysis (BEA) Forms BE-10 by May 30 or June 30, 2025, depending on the number of forms they must file. […]

Nexus is a minimum connection businesses have with a particular state that can activate state and local tax (SALT) obligations. Managing SALT compliance can be especially challenging when considering that tax rates, the criteria for creating nexus and the standards for imposing state income, sales and franchise taxes vary widely from one state to the […]

In this episode, Associate Director of Tax Services Luke Lucas, CPA, shares often overlooked state and local tax issues, deductions and credits.

The Trump administration’s calls to reduce the size of the federal government and make the federal workforce more efficient[1] are expected to have a significant impact on the work of the Internal Revenue Service (IRS) and potentially end the agency’s 10-year plan to expand its tax compliance enforcement activities. However, savvy taxpayers should not assume […]