CPA Blog

8 key features of a customer dispute resolution process for businesses

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Published: Friday, 10 May 2024 08:57

Written by Phillip Strickler, CPA.CITP

No matter how carefully and congenially you run your business, customer disputes will likely happen from time to time.

Some of the complaints may be people looking to negotiate a discount, “game the system” or even outright defraud you. But others could be legitimate complaints arising from mistakes on your company’s part, technological glitches or, perhaps worst of all, fraudulent actions by a third party.

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Taxes when you sell an appreciated vacation home

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Published: Wednesday, 01 May 2024 09:00

Written by Phillip Strickler, CPA.CITP

Vacation homes in upscale areas may be worth way more than owners paid for them. That’s great, but what about taxes? Here are three scenarios to illustrate the federal income tax issues you face when selling an appreciated vacation home.

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Watch out for “income in respect of a decedent” issues when receiving an inheritance

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Published: Tuesday, 23 April 2024 15:32

Written by Phillip Strickler, CPA.CITP

Most people are genuinely appreciative of inheritances, and who wouldn’t enjoy some unexpected money? But in some cases, it may turn out to be too good to be true. While most inherited property is tax-free to the recipient, this isn’t always the case with property that’s considered income in respect of a decedent (IRD). If you have large balances in an IRA or other retirement account — or inherit such assets — IRD may be a significant estate planning issue.

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Why some businesses choose to execute a pivot strategy

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Published: Monday, 22 April 2024 12:31

Written by Phillip Strickler, CPA.CITP

When you encounter the word “pivot,” you may think of a politician changing course on a certain issue or perhaps a group of friends trying to move a couch down a steep flight of stairs. But businesses sometimes choose to pivot, too.

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