Should ESG Matter to Your Nonprofit Organization?
There is a good chance you have heard the term ESG, which stands for environmental, social, and governance. ESG is a framework used to assess how corporations are addressing various sustainability and ethical issues. The role of an ESG program is to ensure corporate...
Will Your Crypto Transactions Be Reported on a Form 1099?
Some taxpayers may be unaware of all the federal tax reporting requirements for cryptocurrency transactions — especially when it comes to issuing and receiving a Form 1099 for 2023. If you buy something with cryptocurrency, you will not receive one. However, you may...
More to Business Valuations Than Meets the Eye
Most business owners and attorneys know the basics of the business valuation process. For example, you might know that there are three approaches to value: the cost, market, and income approaches. You might even know some of the methods that fall under these...
Finding Federal, State, and Local Government Grants
Most not-for-profits count on donors to keep their organization humming on all cylinders. But if donations start to slow down due to factors beyond your control, such as high inflation or economic weakness, how will you fill budget gaps? If you have not done so...
Hantzmon Wiebel LLP Receives 2023 Best of Charlottesville Award
CHARLOTTESVILLE September 8, 2023 -- Hantzmon Wiebel LLP has been selected for the 2023 Best of Charlottesville Award in the Accounting firm category by the Charlottesville Award Program. Each year, the Charlottesville Award Program identifies companies that we...
Update on Retirement Account RMDs
If you have a tax-favored retirement account, you generally must take required minimum distributions (RMDs) each year after you reach the “magic” age. If you do not take RMDs, you will be hit with an expensive federal tax penalty, unless an exception applies. (See...
New Upcoming Requirement for Businesses that Receive Large Amounts of Cash
Does your business receive large amounts of cash or cash equivalents? If so, you are generally required to report these transactions to the IRS - and not just on your tax return. Beginning January 1, 2024, this reporting will have to be filed electronically. This...
What Construction Businesses With Inventory Should Know About Section 263A
Section 263A is an often misunderstood and misapplied part of the Internal Revenue Code. And it is one that many construction businesses — particularly homebuilders — should get a handle on to avoid unexpected tax issues and unwanted attention from the IRS. This...
What Can You Do to Lower Your 2023 Tax Obligation
Although summer is a time for vacations and relaxing in the backyard, you cannot afford to take a break from managing your tax bill. Now is a good time to consider proactive moves that could cut your 2023 tax liability. Assuming the current federal tax rules will...
Is Payroll Fraud Occurring at Your Company
Payroll is often a company’s most significant expense. Unfortunately, theft within the payroll system can result if internal controls are not in place and steps are not taken to detect fraudulent activity in the company’s records. But there is good news: Payroll fraud...