Breoncpa - Breon & Associates

What Are Your Odds of Being Audited by the IRS as an Individual Taxpayer?

by Breoncpa | Jul 16, 2019 | Accounting

Recently, the Internal Revenue Service released its audit statistics for the fiscal year 2018, which revealed that the agency examined fewer taxpayer returns compared to previous years. The IRS audited just 0.59 percent of individual tax returns in 2018, down from...

Change in the Menu: Your Meal Expenses Under Today’s Tax Code

by Breoncpa | Jul 11, 2019 | Accounting

While the Mad Men days of three-martini lunches are a quaint relic of the past, businesses still rely on wining and dining clients as a means of sealing deals. But, if you want to entertain a longtime client or a new prospect, you have to understand that the rules...

Here Are the Business Expenses You Cannot Write Off on Your Taxes

by Breoncpa | Jul 9, 2019 | Accounting

If you own a business, you’re always looking for ways to lower your tax payments. And while the U.S. Tax Code is a helpful reference for allowable expenses, you might be surprised to find out it does not specifically list many of the business deductions owners take...

Appeals Case Shows How Internal Investigations Can Shield Employers from Liability

by Breoncpa | Jun 27, 2019 | Accounting

At Breon & Associates, we often try to educate business owners about the importance of thorough internal investigations of deviant behavior within their organization. Not only can such steps root out bad behavior that violates company policy and undermines morale...

Employers Must Be Wary of the Harsh Payroll Tax Penalty

by Breoncpa | Jun 25, 2019 | Accounting

The Federal Income Contributions Act imposes the responsibility on employers to deduct amounts from their employees’ paychecks to cover Social Security and Medicare tax. The organization must also match these employee contributions. Known collectively as FICA, these...