Squires & Lee PLLC

06/03/2026

For the 12 months ending in April 2026, the U.S. inflation rate was 3.8%. Rising inflation can make managing a business challenging, yet you can still thrive by making prudent cost cuts and acting if opportunities arise. You might, for example, reduce expenses by switching vendors, cutting overtime hours or moving offices. Be sure to assess inflation’s effect on each product line and determine whether your product mix still makes sense. Then decide whether you should raise prices (just be sure to give customers fair notice). For help evaluating your current financial situation and developing additional inflation-fighting strategies, contact us.

06/02/2026

Scammers continue to target taxpayers through email, text messages, phone calls and regular mail. They often try to create urgency or fear to trick victims into sharing sensitive information or sending money.

Remember, the IRS will never contact you by email or text about a tax bill or refund. It also won’t demand immediate payment over the phone. Most IRS communications are sent through regular mail — though fraudsters may send fake IRS notices by mail, often including QR codes.

Don’t click on links, open attachments or scan QR codes from unknown senders that might direct you to fraudulent websites designed to steal personal or financial information. Contact us if you have questions.

05/29/2026

Strong payroll management is critical for today’s small and midsize employers. Start with a written policy that thoroughly explains how payroll should be handled and who has the authority to approve changes. It should be a comprehensive, living document that you regularly reevaluate and revise as needed. Also, stay current on overtime rules, worker classification and payroll tax obligations. Technology and outsourcing can make payroll more efficient, but they shouldn’t replace careful review and strong internal controls. Training is important, too. Payroll staff, supervisors and employees all need to understand their roles. Contact us for help reviewing and improving your payroll practices.

05/28/2026

05/26/2026

If you donate artwork to charity, the deduction you can claim depends on several factors, including the type of organization receiving the piece and how it will be used. Your deduction will generally be reduced if the charity’s use of the artwork is unrelated to the purpose or function that’s the basis for its qualification as a tax-exempt organization. The reduction equals the amount of capital gain you would have realized had you sold the artwork instead of giving it to charity. Other deduction limits as well as special substantiation and appraisal rules also may apply. If you’re considering donating artwork or other valuable property, contact us for help ensuring the best tax outcome.

05/22/2026

Many employers hesitate to act when an employee’s performance declines — and the financial consequences can be significant. Poor performance typically leads to missed deadlines, errors and operational inefficiencies. Meanwhile, other workers often must pick up the slack, increasing costs and lowering morale. And in many cases, supervisors end up spending more time handling the problem and less time on strategic work. Well-planned policies and procedures help set clear expectations, improve accountability and catch problems before they turn into crises. Contact us for help viewing your organization’s approach to performance management through a financial lens.

05/21/2026

Our office will be closed:

Friday, May 22nd for staff training and Monday, May 25th in observance of Memorial Day.

We will be open regular hours on Tuesday, May 26th.

05/20/2026

Is your business paying for insurance coverage you don’t need — or missing protection where risk may be significant? You may have many options to choose from, depending on your organization’s operations and risks. General liability is the most basic policy, and it’s often paired with product liability, professional liability and property coverage. Other products include employment practices liability, business interruption, key person and cyberinsurance policies. Work with an independent broker to learn more about each type. We can also help you evaluate potential coverage gaps and manage business risk cost-effectively.