MCB BLOG

As your trusted CPA & Advisor, we keep you informed of the latest tax & accounting news you can use.

When the IRS Wants to Audit Your Business

You may be surprised to learn that not every audit notification you receive will be legitimate. So, first, make sure you received an official audit notification. The Internal Revenue Service (IRS) will notify you either by letter or by a phone call followed by a...

IRS Offers Identity Protection PIN

The IRS can now give eligible taxpayers an "IP PIN," a six-digit code to help prevent the misuse of Social Security numbers on fraudulent federal income tax returns. As the IRS explains, this PIN helps the agency verify a taxpayer's identity and accept his or her...

5 Tech Trends for the Next Decade

Without doubt, technology has profoundly changed how business works. Its influence is everywhere, from smart homes to business operations. The 2020s will only continue to add new ways technology is used. To remain profitable and competitive in the 2020s, businesses...

How Do REITs Work?

As you evaluate your investments, you likely are asking a few essential questions: How close are you to reaching your financial goals? Are you prepared to fund your children's college? Are you ready to take the vacation of your dreams? What about your retirement?...

Getting Ready for Tax Time

What can you do now before you meet with your tax preparer? With a bit of forethought and preparation, you can make this year's taxes go as smoothly as possible. Actually, there's no grand secret to filing taxes in an easy and efficient manner; it's simply a matter of...

Freelancing? Know the Tax Rules

Are you a freelancer? If so, it pays to know how the tax code can work for you. For example, one of the biggest perks of the 2017 Tax Cuts and Jobs Act is a new 20% deduction on the so-called pass-through business. This is available to a wide variety of gig economy...

What Is Tax-Loss Harvesting?

Tax-loss harvesting offsets capital gains that result from selling securities at a profit, and it is applicable to taxable investment accounts. If you have, say, $5,000 in capital gains and want to minimize the tax liability from those gains, you could sell another...

What To Know About Getting a Tax Refund

In a recent statement, the IRS noted that most taxpayers are issued refunds by the IRS in fewer than 21 days. If yours takes a bit longer, here are six things that may be affecting the timing of your refund: Security reviews—The IRS and its partners continue to...

Rental Real Estate Safe Harbor Under Section 199A

When the Tax Cuts and Jobs Act of 2017 added the qualified business income (QBI) deduction (also called the Section 199A deduction), it didn’t clarify when a rental activity rises to the level of a qualified trade or business. On September 24, 2019, the Internal...

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