Consulting Archives - Walter Shuffain

The Top 12 Tax Scams to Avoid According to the IRS

Fraud. Scam. Phishing. Regardless of what you call these illicit activities, it’s important to protect yourself against the bad players that take advantage of weaknesses for their gain. Not only is it inconvenient, but there’s often a financial cost when…

The Future of Cryptocurrency

Written by: Leah Belanger, CPA, MSA and William Cooper, CPA Cryptocurrencies have been making their mark on financial services for over a decade. But the past year has seen incredible highs and lows, with the crypto market losing over $2…

Funding a Buy/Sell Agreement with Life Insurance

Written by: David Cooper, CPA Any time multiple owners in a business are active in day-to-day operations, the business owners should have a buy/sell agreement. A buy/sell agreement is a binding contract between co-owners that controls when owners can sell…

The New 1099-Ks Are Coming: Are You Ready?

Written by: Jonathan Hitter, CPA, MST, CGMA A key provision of the American Rescue Plan Act passed in 2021 includes lowering the thresholds that trigger a Form 1099-K – Payment Card and Third-Party Network Transactions. This means businesses and individuals…

Business Tax Implications of the Inflation Reduction Act (IRA)

The House of Representatives passed The Inflation Reduction Act (IRA) Friday, August 12, and President Joe Biden signed into law August 16. The legislation, which is a pared-down version of the proposed Build Back Better plan, was passed through the…

Tax-Free Capital Gains: Understanding the Qualified Small Business Stock Gain Exclusion

Written by: David Cooper, Joseph Bellante, and Mark Trunfio Many high-net-worth individuals are unaware of an incredibly valuable tax incentive: Section 1202 of the Internal Revenue Code, also known as the qualified small business stock gain exclusion. This tax-planning tool…

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3 Ways to Protect Your Business from Fraud and Scams

Business owners spend a lot of time and effort ensuring their operations run smoothly, from delivering quality goods and services to providing accurate financial statements and tax returns. Yet one scammer going after your company can bring it all down,…

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Don’t forget about the Work Opportunity Tax Credit

Note: Congress is considering proposals that could expand the Work Opportunity Tax Credit for certain qualified groups. We will monitor this development and communicate updates as necessary. As a business, tax planning can help create increased cash flow that allows…

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Build Back Better May Be Stuck, but How Could It Impact Business Owners?

Build Back Better is one of two pieces of legislation that form the centerpiece of President Biden’s domestic agenda. The first piece — the Infrastructure Investment and Jobs Act — was signed into law in November 2021. Build Back Better (BBB) focuses…

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Making a Family File

One of the most difficult things for a family to deal with after the death of a loved one is sorting through the endless paperwork needed to get the estate in order. It is important that your documents are in…

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