Small Business October 30, 2026
What Happens When a Long-Term Rental is Sold? The Taxes That Surprise Small Landlords
Documented improvements can lower the gain, if the landlord has the records.
Accounting July 30, 2025
FASB OKs New Credit Losses Guidance for Accounts Receivable, Contract Assets
The Financial Accounting Standards Board issued new optional guidance on July 30 regarding the measurement of credit losses for accounts receivable and contract assets.
Payroll July 30, 2025
More Americans Are Turning to Digital Vaults to Protect Themselves and Their Legacy
A fast-growing solution is the digital vault: a secure, cloud-based platform for storing and sharing everything from wills and health directives to insurance documents and passwords.
Accounting July 30, 2025
Indiana Accountant Sentenced to Three Years for Illegal Tax Shelter Scheme
Jason Crace, CPA, was sentenced to three years in prison on July 21 for preparing false tax returns for clients who participated in an illegal tax shelter.
Firm Management July 30, 2025
The AI Hierarchy: Execs Use AI 4X More Than Frontline Workers
A new report reveals a growing gap in AI adoption between senior leadership and frontline staff: while 72% of C-suite/VP executives use AI daily, only 18% of individual contributors (ICs) do the same.
Taxes July 30, 2025
Florida Woman Sentenced for Conspiring with Family to Hide $90M from the IRS
According to court documents: between 2010 and 2022, Gilda Rosenberg, of Golden Beach, conspired with two family members to conceal from the IRS more than $90 million in assets and income.
Small Business July 30, 2025
Reciprocal Tariffs Explained: Impact on U.S. Businesses
Reciprocal tariffs on dozens of countries were set to increase July 9, 2025. However, on July 7, the White House extended the current 10% modified reciprocal tariffs until August 1, 2025.
Small Business July 30, 2025
A Section 1202 Walkthrough: The Qualified Small Business Stock Gain Exclusion
A further benefit of owning QSBS is that a taxpayer who sellers QSBS can make a Section 1045 election to roll proceeds tax-free into other QSBS investments.
Taxes July 30, 2025
One Big Beautiful Bill Act Changes 1099 Thresholds
The One Big Beautiful Bill Act raises the 1099-MISC and 1099-NEC reporting thresholds to $2,000.
Small Business July 30, 2025
Lili Unveils BusinessBuild Program to Help Small Businesses Build Their Credit Profile
Lili announced on July 30 the launch of the Lili BusinessBuild Program, a credit-building solution that helps entrepreneurs build and monitor their business credit profile directly from their Lili account.
Taxes July 29, 2025
AICPA Signals Support for Legislation Allowing Domestic Abuse Survivors to File Taxes as Single
The Survivor Assistance for Fear-free and Easy Tax Filing Act of 2025 (SAFE Act) allows survivors of domestic abuse or spousal abandonment to file their taxes as if they were not married.
Taxes July 29, 2025
IRS Reminds Tax Pros of Requirement for a Written Information Security Plan (WISP)
As part of a special five-part series, the IRS and its Security Summit partners highlight the importance of tax pros creating and maintaining a WISP.
Taxes July 29, 2025
Karbon, Ignition and SmartVault Partner to Simplify and Streamline Tax Workflows for Intuit ProConnect Firms
This partnership brings together the best-in-class Intuit ProConnect integrated apps across practice management, client engagements and payments, and document management.