ABP #245 - Fraud Schemes: Inventory


Covers fraud schemes related to collusion, theft, and more



* This article was originally published here Check out https://www.johannakimball.com

Comments

Post a Comment

Popular posts from this blog

4 Common Misconceptions About the New 1099-K Reporting Threshold

Image
If the new 1099-K reporting thresholds have you confused as an eBay seller, you’re not alone. But don’t worry — eBay and TaxAct have partnered up to help you separate fact from fiction. Below we’ll address some common misconceptions you might have heard about these changes and the truth about how your taxes could be affected. Misconception 1: This is a new tax that I will have to pay on my profits. The truth: This year’s change is not a new tax imposed on online sellers but a new reporting requirement for eBay and other online marketplaces. Any income derived from a sale has always been reportable income for eBay sellers. Previously, you would not have received a Form 1099-K from eBay unless you hit 200 transactions and $20,000 in gross payments annually. In 2022, the IRS lowered this threshold. Now eBay and other marketplaces must report gross sales that equal or exceed $600 on a Form 1099-K. Due to these changes, many sellers who have not received a Form 1099-K before will be...
Read more

EU-U.S. carbon tax proposed by German Greens to restore alliance

EU-U.S. carbon tax proposed by German Greens to restore alliance The Latest     •     January 25, 2021, 5:10 pm Europe and the U.S. should jointly adopt a carbon tax on imports as a means to promote low-emission production globally, according to the leaders of Germany’s Greens, the country’s No. 2 political… Rethinking your firm in 2021 The Latest     •     January 25, 2021, 3:02 pm With the pandemic shaking things up, now is a great time to reexamine your practice, and Amanda Aguillard of Elefant Training and Accounting Salon offers a guide to what the firm of the future can… Unlocking your accountancy firm's brand identity with archetypes AccountingWEB     •     October 27, 2021, 10:21 am Practice strategy Tags Marketing Check out https://www.johannakimball.com
Read more

How Teachers Can Deduct Educator Expenses

Image
Teachers, this one is for you. You give so much of your time, money, and energy to ensure your students have everything they need to succeed. Even so, we know you aren’t reimbursed for all the money you spend on necessary teaching materials or professional development courses for yourself. Thankfully, the Educator Expense Deduction has your back when it comes to lowering your taxable income. If you haven’t maximized your qualified teaching expenses for 2021 yet, now is the time to do so! As the holidays approach, you can give your students the gift of a fully stocked classroom ready to meet their needs while also giving yourself the gift of a tax write off next year. What is the Educator Expense Deduction? The IRS allows eligible educators to deduct up to $250 of qualified teaching expenses every year, as long as you were not reimbursed for these expenses by your school, a grant, or by some other means. If you are married, filing jointly, and both you and your spouse qualify as e...
Read more