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Blog Month: August 2021

Getting a divorce? Be aware of tax implications

Divorce is unpleasant. An unexpected tax outcome can add insult to injury. Generally, in a divorce, all the marital property is divided evenly. This can include cash, cars, homes, rental

Where’s my IRS refund and why is it taking so long to process?

It’s almost football season, and many tax filers are still waiting for their 2020 tax refunds to arrive in the mail or their bank accounts.  If your IRS money is

Everything You Need to Know About ABLE Accounts and the Associated Tax-Advantages

In 2014, the Achieving a Better Life Experience (ABLE) Act was passed which allowed people to save for the needs of family members with disabilities — without having them lose

Beware of syndicated conservation easement tax deductions and other red flags

Professional skepticism is an attitude that includes a questioning mind and a critical assessment of the evidence. In exercising professional skepticism, one should not be satisfied with less than persuasive

Scholarships are usually tax free but they could result in taxable Income

The costs of education continue to rise year after year.  Tuition, fees, books, school supplies are just a few of the yearly costs for students.  No matter if you have

New grant program offered by the Wisconsin Economic Development Corporation – Main Street Bounceback.

The Main Street Bounceback grant program provides $10,000 to new or existing businesses and non-profit organizations moving into vacant properties in Wisconsin’s downtowns and commercial corridors. The funds can be

Accounting Standard Update (ASU) 2020-07 – Presentation and Disclosures by Not-for-Profit Entities for Contributed Nonfinancial Assets

Not-for-Profit (NFP) organizations typically receive support in the form of financial and nonfinancial assets to help achieve their missions. Nonfinancial assets include fixed assets (land, buildings, and equipment), the use

State of the Market for Business Sales

Is your parent moving into a nursing home soon? Take advantage of these 5 tax saving tips

If you have a parent moving into a nursing home, the first thing on your mind might not be taxes. But there are some tax benefits you should consider. Here

Don’t lose out on corporate expenses paid by business owners

Personally Paying for Corporate Expenses Often Nondeductible Owners and Shareholders of closely held businesses and other corporations can sometimes find themselves covering expenses on behalf of their corporation. If these