5 Virtual CFO Blog Posts for July 2019

On the Summit CPA Virtual CFO Blog we publish a post every week day, bringing you helpful information about accounting and finance, including cash flow management, business tax planning, and financial forecasting. Here are our top five posts last month:

1. New Capital Expense Rules- CPA Director of Tax, Dave Danic, covers two things you need to know about the tax reform bill that was passed in December 2017 and its provisions intended to benefit small businesses. 
   
   
2. Do Your Family Loans have Tax Implications?- If you've ever considered giving a financial loan to a family member, read this post to learn how to avoid unintended tax consequences that can result from giving a family member a loan by learning the IRS rules around family loans. 
   
   
3. Company Buyout- If your employer offers you a buyout, should you take it?  This post covers 10 considerations you should make if your employer offers you a buyout. 
   
   
4. Don’t Forget Tax Rules- Business owners considering taking a shareholder loan from their business should be sure to first understand how the IRS will view that loan in the case of an audit.
   
   
5. Is it Fraud or Negligence?  Every year there are thousands of investigations launched by the IRS in their fraud prevention campaign. IRS criminal investigations during the 2017 tax filing year identified potentially $2.5 billion in tax fraud and the conviction rate was 91.5%. However, the IRS understands that not everyone is out to commit fraud and that mistakes can happen to anyone. What you need to know is the difference between fraud and negligence.

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