Small Business Solutions

05/22/2023

Corporate Fraud: Companies commonly create such safeguards to protect their cash, yet Shetty disregarded the measures that he helped to draw up. Story via

The former CFO is charged with investing the funds without permission into his own crypto venture before losing them during the market’s crash, according to a federal indictment.

05/22/2023

Watch out for unscrupulous tax preparers and tax fraud promoters. Taxpayers should use only reputable tax professionals and know what is on their tax returns.

05/22/2023

It's go time! based has some motivation for you today.

05/21/2023

Business Leadership: He's looking for a brand that he thinks can be here 100 years from now. Insight via

LVMH has built a powerful portfolio of 75 brands. In 2023, it became the first European company to reach a $500 billion value.

05/21/2023

Tax Fraud: The defendant defrauded the IRS by failing to report $1.3 million in earnings. Story via

A former Maryland police captain is going to federal prison for defrauding the IRS. Full story here.

05/21/2023

Economic News: We haven't yet made the progress we need to make. And it's a long way from here to 2% inflation. Report via

The Dallas Fed president said the central bank still has work to do in achieving its goal for price stability.

05/20/2023

Business Fraud: Holmes raised nearly $1 billion from a list of well-heeled investors. The latest via

The court decision on Holmes' attempt to avoid prison comes nearly three weeks after she deployed a legal maneuver to delay the start of her 11-year sentence.

05/20/2023

Casualty Losses: Under the Tax Cuts and Jobs Act (TCJA), casualty losses for individuals are now only deductible to the extent they are attributable to a federally declared disaster. Story via

A Colorado homeowner discovered that her new house came with walls full of snakes. Mitigating that damage will be expensive—but is it also tax deductible?

05/20/2023

Accounting Standards: That's really going to change the game in terms of what's disclosed about a company's tax affairs. Proposal details via

Previous FASB calls for greater income tax transparency have drawn pushback from businesses. This time the initiative appears to be gaining steam.

05/20/2023

End of week from

05/19/2023

Maximizing business growth: Breaking things down.

05/19/2023

Business News: According to the company's bankruptcy filing, customers ordered $2.7 million worth of wine that never even made it to the warehouse. Story via

Underground Cellar filed for Chapter 7 bankruptcy in May. Now, former customers have unanswered questions about where the wine they are owed is, or if it even exists.