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My CPA LLP CPA firm specializing in tax planning, accounting, audit, CFO and advisory services nationwide.

Fraud risks change as your business and its external market conditions evolve. Controls that were previously effective m...
10/16/2026

Fraud risks change as your business and its external market conditions evolve. Controls that were previously effective may no longer be appropriate if, for example, you’ve added employees, revised your payment methods, switched vendors or opened new locations. Fraud perpetrators may also use increasingly sophisticated schemes to gain access to your systems. A formal fraud-risk assessment can help fortify your defenses. A forensic accountant may review financial records, transaction patterns, payroll data and existing controls for red flags that warrant attention. The findings can help you strengthen controls and determine where follow-up is needed. Contact us to learn more.

Selling an investment in a taxable account at a loss can help reduce your federal tax bill, but beware of the wash sale ...
10/16/2026

Selling an investment in a taxable account at a loss can help reduce your federal tax bill, but beware of the wash sale rule. If you sell securities at a loss and buy substantially identical securities within 30 days before the loss sale date or 30 days after that date, the IRS generally disallows the loss deduction. However, the loss isn’t necessarily gone forever. It’s typically added to the cost basis of the replacement securities, potentially reducing taxable gains or increasing your tax loss when you sell the replacement securities. Before harvesting investment losses, contact us to discuss strategies for avoiding costly tax surprises.

Estate planning can take on added significance when a loved one has a disability. Leaving assets directly to that person...
10/15/2026

Estate planning can take on added significance when a loved one has a disability. Leaving assets directly to that person could interfere with his or her eligibility for certain means-tested government benefits. A special needs trust (SNT) allows assets to be held and managed by a trustee without being treated as the beneficiary’s countable resources for certain government benefits purposes. An SNT’s assets can pay for virtually anything government benefits don’t cover. The trust must not pay money directly to the beneficiary. Rather, it must distribute funds — on behalf of the beneficiary — directly to the third parties providing goods and services to him or her. Contact us for more details.

The IRS has provided a safe harbor for certain exchange-traded digital asset trusts. Under Rev. Proc. 2026-20, qualifyin...
10/15/2026

The IRS has provided a safe harbor for certain exchange-traded digital asset trusts. Under Rev. Proc. 2026-20, qualifying trusts that hold cash and one type of digital asset on a permissionless proof-of-stake network can earn staking rewards without jeopardizing their status as investment trusts or grantor trusts for federal tax purposes. The safe harbor includes requirements for custodians, staking providers, liquidity management and reward distributions. Existing trusts have six months after Oct. 6, 2026, to comply. For investors, the guidance provides clearer rules for how qualifying trusts can earn and distribute staking rewards. Contact us with questions.

Planning to sell appreciated investments before year end? Don’t overlook the net investment income tax (NIIT). A large c...
10/15/2026

Planning to sell appreciated investments before year end? Don’t overlook the net investment income tax (NIIT). A large capital gain could push your modified adjusted gross income (MAGI) above the NIIT threshold ($200,000 for single filers, $250,000 for married joint filers or $125,000 for married filing separately), potentially increasing your tax bill. The NIIT equals 3.8% of the lesser of net investment income or MAGI above the threshold. Net investment income generally includes taxable interest, dividends, capital gains, rents and royalties. Before selling highly appreciated investments, contact us. We can help assess your potential NIIT liability and discuss ways to limit your exposure.

In a Sept. 24, 2026, letter to the IRS and U.S. Treasury Dept., the American Institute of CPAs (AICPA) urged regulators ...
10/14/2026

In a Sept. 24, 2026, letter to the IRS and U.S. Treasury Dept., the American Institute of CPAs (AICPA) urged regulators to change how the 15% corporate alternative minimum tax (CAMT) applies to financially distressed companies. The AICPA says that forgiven debt should match regular income tax rules to reduce compliance burdens and prevent unexpected tax owed. It also recommends excluding bankruptcy-related income and certain gains to make the restructuring process easier and more likely to succeed. Further, the AICPA says companies emerging from bankruptcy shouldn’t be assessed the CAMT based on their pre-bankruptcy adjusted financial statement income.

October is Cybersecurity Awareness Month, and the IRS is urging Americans to protect their personal data from hackers an...
10/14/2026

October is Cybersecurity Awareness Month, and the IRS is urging Americans to protect their personal data from hackers and other fraud perpetrators. Always use strong passwords, updated security software and multifactor authentication. Many security experts also advocate using “passkeys” when possible. The IRS says that tax identity theft remains a real threat. So individual and business taxpayers should employ IRS tools, such as the Identity Protection PIN, Online Account for Individuals and Business Tax Account. Also ignore any unexpected phone, email or text messages that claim to be from the IRS. If you receive a suspicious message, report it to bit.ly/4hUaI8h

As year end approaches, manufacturers should review their tax position and identify opportunities to reduce their 2026 t...
10/13/2026

As year end approaches, manufacturers should review their tax position and identify opportunities to reduce their 2026 tax burden. For example, consider making timely capital expenditures. Bonus depreciation and the Sec. 179 expensing election can potentially provide hefty deductions for eligible purchases placed in service during the tax year. First-year bonus depreciation is now permanent for new and used assets acquired and placed in service after Jan. 19, 2025. And under Sec. 179, for 2026, you can deduct up to $2.56 million. The deduction begins to phase out dollar for dollar when qualifying purchases exceed $4.09 million. Contact us for details and additional year-end strategies.

The Section 45Y Clean Electricity Production Credit provides a technology-neutral tax incentive for electricity generate...
10/13/2026

The Section 45Y Clean Electricity Production Credit provides a technology-neutral tax incentive for electricity generated at qualified zero-emissions facilities placed in service after 2024. The credit is generally based on kilowatt hours (kWhs) of electricity produced and sold, consumed or stored under qualifying conditions. For 2026, the IRS recently announced an inflation-adjusted credit of 0.6 cents per kWh, or 3.1 cents per kWh for facilities that qualify for the higher rate. Additional increases may apply for domestic content or energy communities. Contact us to learn more about the credit or visit: https://bit.ly/4ySiwih

An important tax deadline is fast approaching: Thursday, Oct. 15, is the due date for taxpayers who filed for a six-mont...
10/13/2026

An important tax deadline is fast approaching: Thursday, Oct. 15, is the due date for taxpayers who filed for a six-month extension to file their 2025 individual federal income tax return (Form 1040 or Form 1040-SR). If you still need to file, gather Social Security numbers for everyone on your return; bank account and routing numbers for direct deposit; any Forms W-2 and 1099; records related to any virtual currency transactions; and supporting documents for credits or deductions you’re claiming. Oct. 15 is also the deadline to file a 2025 federal gift tax return (Form 709) for taxpayers who filed a six-month extension. Contact us for assistance with filing your tax forms.

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