Part of the ‘New Normal” May Be More Fraud

If your business is now welcoming employees back in person or has just gotten back to full capacity due to the pandemic, know that you might find increased incidence of fraud. Criminals have been busy during the pandemic. So conduct a thorough risk assessment now and follow up on any suspicions — particularly if your business model has changed.

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Mind the Wash Sale Rule When Harvesting Tax Losses

So far, the stock market in 2021 has been bullish overall. But you never know if and when values might plummet. Usually, when you sell an underperforming security that's held in a taxable brokerage firm account, it generates a tax-saving capital loss (within limits). But when the wash sale applies, the tax savings will be deferred. Here's how the rule works, including whether it applies to cryptocurrency losses.

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Federal Tax News

The Per Diem Rates for 2021-2022 Are Announced The IRS has announced the special per diem rates, which are effective Oct. 1, 2021. Taxpayers may use these per diem rates to substantiate the amount of expenses for lodging, meals and […]

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Considering Long-Term Care Insurance? Here’s What You Should Know

The cost of an insurance policy is mainly based on the probability that you'll file a claim while the coverage is in force. That's why long-term care policies generally have higher premiums than life insurance. But is that a reason to buy it? Finding the answer requires some digging and reflection on your part, but it's worth the effort. Here's more.

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