Archives

• As Tax Season Opens, We Must Stay Alert to Rising Scam Threats

  Posted Date April 1, 2025 Posted Time 12:00 am Published in Service2Client

  🖨 Print⏱ 3 min read As tax filing season begins, scammers are ramping up efforts to steal taxpayers’ personal information through increasingly sophisticated schemes. Below, we discuss the latest scam, what to look out for in general, and what to do if you suspect something malicious. New Scam of the Season The U.S. Treasury Inspector General for Tax Administration (TIGTA) recently issued an alert about a prevalent scam involving Economic Impact Payments. In this scheme, taxpayers receive texts claiming they’re eligible for a $1,400 Economic Impact Payment, requesting personal information and bank details for deposit. While the IRS is indeed... View Article

• Understanding IRS Forms 1099 for Lawsuit Settlements

  Posted Date April 1, 2025 Posted Time 12:00 am Published in Service2Client

  🖨 Print⏱ 3 min read The Basics of Tax Reporting in Legal Settlements When you collect a settlement for a lawsuit, you’ll likely also receive a Form 1099 from the IRS. This form serves as a reminder to pay taxes on your settlement; copies are sent to both you and the IRS. These forms match reported income for income tax purposes, making them critical for accurate tax filing. In lawsuit contexts, two common forms 1099 are issued: Form 1099-MISC: This version can include various types of settlement payments, often termed other income Form 1099-NEC: Used specifically for non-employee compensation Understanding... View Article

• Reasons to Consider Out-of-State Municipal Bonds

  Posted Date April 1, 2025 Posted Time 12:00 am Published in Service2Client

  🖨 Print⏱ 4 min readMunicipal bonds (also known as munis) are issued by a state or local government. Interest income is typically paid out twice a year and is not subject to federal taxes. When an investor purchases a bond issued from his own state, the income is generally not subject to state income taxes. However, there are a few good reasons to consider buying out-of-state municipal bonds. The first reason is to consider bond quality. Each muni bond is given a quality rating based on the municipality’s ability to make the regular interest payments to investors and return their... View Article

• Building Deeper Customer Connections: Leveraging Web3 for Loyalty, Community, and Engagement

  Posted Date April 1, 2025 Posted Time 12:00 am Published in Service2Client

  🖨 Print⏱ 4 min readCompetition in business today has become fierce. Each organization is constantly looking for innovative ways to form strong relationships with its customers. Loyalty programs have been used for a long time to build a devoted customer base. As technology advances, new technologies like Web3 are emerging, offering more opportunities to revolutionize loyalty programs, build vibrant communities, and deepen customer engagement. Transforming loyalty programs through Web3 Loyalty programs help boost customer spending and drive long-term business success. Loyalty program members also generate more revenue than non-members. In the United States alone, the average consumer belonged to more... View Article

• Valuation Ratio Calculating the EV / 2P

  Posted Date April 1, 2025 Posted Time 12:00 am Published in Service2Client

  🖨 Print⏱ 3 min readWhen it comes to analyzing a company’s financials, there are many avenues we can take. One way is through multiples; calculating the EV/2P multiple is the focus of this analysis. This ratio looks at a business’ enterprise value against its proven and probable 2P reserves. While ratios or multiples are used in valuing companies, this metric is used chiefly to value gas and oil companies for energy sector analysts. Analysts use this calculation to determine the likelihood that a company’s reserve resources can underpin its functioning and expansion efforts. Along with the ratio, analysts use micro... View Article