Understanding IRS Forms 1099 for Lawsuit Settlements
The Basics of Tax Reporting in Legal SettlementsWhen you collect a settlement for a lawsuit, you'll likely also receive a Form 1099 from the IRS. This form serves as a…
Dissecting the Half-Year Convention for Depreciation
Depreciation can help a business realize tax benefits, maintain compliance with financial reporting requirements, and project asset replacement. The half-year convention for depreciation is an important practice to understand.For fixed…
As Tax Season Opens, We Must Stay Alert to Rising Scam Threats
As tax filing season begins, scammers are ramping up efforts to steal taxpayers' personal information through increasingly sophisticated schemes. Below, we discuss the latest scam, what to look out for…
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