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The IRS is Working to Increase its Audit Rates for Higher Earners

(CNBC) - While plummeting audits have drawn scrutiny from Congress, percentages have doubled for filers making over $100,000 to more than $10 million over the past seven months, according to the statement.



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How Taxpayers Can Avoid Costly Basis Errors 
(Accounting Web) - Each year, taxpayers who sell assets find themselves paying the IRS more than they need to because of one simple mistake: choosing the wrong basis for the asset. In this article, expert Julian Block reviews common scenarios in which amending Form 1040-X prior to submitting it will literally pay off.

Hiring Family Members in a Small Business 
(JofA) - While hiring family members can present some potential drawbacks, the practice can also yield strong benefits. Advise your clients to consider the following factors before choosing to hire a relative.

Be Different, Not Better 
(CPA Practice Management) - The internet is saturated with inspirational quotes and sayings about achieving success. Type in “success meme,” and you have hundreds of thousands to choose from. But there’s one saying that’s been around for decades (at least) that still carries a ...

Millennials Want a Different Kind of Retirement 
(Kiplinger) - Over the last decade Millennials have gotten a lot of attention (good and bad) for their “slacktivism,” job hopping, mountains of student debt and FOMO culture. But Millennials are growing up, and many of them are prioritizing financial independence and thinking seriously about their path to retirement.

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