IRS CP53E Scams Are on the Rise — Here’s What Taxpayers Need to Know

Confusion about IRS CP53E notices is growing — and scammers are taking advantage. CP53E is an official IRS notice related to tax refunds and bank account information. As the IRS shifts from paper checks to direct deposit, it’s mailing these notices to taxpayers who may need to add or update their banking details. The IRS […]

To maximize — or not to maximize — depreciation deductions on your 2025 tax return

The deadlines for filing 2025 tax returns (or extensions) are fast approaching. Although most tax planning moves must be completed by December 31 of the tax year, there are some decisions you can make when filing your return that can save taxes now or in the future. One such decision is whether to claim accelerated depreciation […]

Too Good to Be True? It Could Be a Tax Scam

One of the many scams currently targeting taxpayers is fake online tax deduction calculators. These digital tools are intended to steal personal information and money from unsuspecting users. They’re often accompanied by false promises about new or expanded tax credits and deductions available under the One Big Beautiful Bill Act. The IRS says you should […]

Operating Across Borders? Don’t Overlook Transfer Pricing Rules

When related business entities operate across state or national borders, they must follow transfer pricing rules. These rules require intercompany prices for goods, services or intellectual property to be comparable to prices that unrelated parties would use in arm’s-length transactions. Taxing authorities may scrutinize pricing that shifts profits to lower-tax jurisdictions. Noncompliance can lead to […]

Beware: Accounting missteps can trip up new businesses

Launching a start-up comes with no shortage of big decisions and fast-moving priorities. In the rush to grow, financial fundamentals can sometimes take a back seat — often with costly consequences. Some common accounting missteps that new business owners should avoid include: Overlooking day-to-day spending. Starting a new business is exciting, and it’s natural to […]

Need to file for a refund of excise tax?

On April 30, the IRS issued temporary regulations explaining how taxpayers can recover federal excise taxes paid on clear diesel fuel or kerosene they later removed from a terminal as dyed fuel for nontaxable use. Eligibility is limited to taxpayers who paid the original tax on the dyed fuel related to the claim. Taxpayers meeting […]

Federal tax duties when you employ household help

Should you fund your startup with your 401(k) plan?

Summer Camps may qualify for Federal Credit

Are you planning to send your kids to day camp this summer while you work? Costs for children under 13 may qualify for the federal Child and Dependent Care Credit. Eligible expenses include fees for day camps, even those focused on specific activities. In 2026, you may claim 20% to 50% (depending on your adjusted […]

Midterm elections are on the horizon, are contributions deductible?

The 2026 midterm elections are about six months away, so you may be thinking about donating money to political campaigns. It’s important to remember that contributions to candidates, campaign committees (including political action committees or PACs), political parties and groups seeking to influence legislation aren’t tax deductible. You’re also prohibited from deducting admission to dinners […]