The Balancing Act

Weinstein Spira Blog

Weinstein Spira’s blog, The Balancing Act, provides helpful information on technical accounting and CPA firm culture.

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Tax

The Dirty Dozen Scams of 2023

The Dirty Dozen Scams of 2023

Every year the Internal Revenue Service (IRS) publishes a list of taxpayer scams and tax avoidance schemes they call the “Dirty Dozen.” These fraudulent practices pose serious risks such as the loss of personal data, money and more. Although these scams peak during...

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Important Aspects of Your Financial Health

Important Aspects of Your Financial Health

Whether you are just out of school or nearing retirement, a periodic review and update of all aspects of your short-term and long-term financial health is important. When my mother was turning 90, her doctor noticed in an X-ray, a spot on her lungs. The cancer doctor...

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Reference Rate Reform: What You Need to Know

Reference Rate Reform: What You Need to Know

Do you have debt or other agreements that utilize the London Interbank Offered Rate (LIBOR) as the benchmark reference rate?  If so, are you prepared for reference rate reform? Over the past years, there has been an effort to move away from the LIBOR and other...

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How to Minimize Tax on Investment Income

How to Minimize Tax on Investment Income

When you invest in financial instruments, such as stocks, mutual funds, IRAs/401ks, commodities, and even cryptocurrency, the main goal is to grow your wealth. In many cases, once that initial investment decision is made, people tend to leave it there and go about...

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1031 Exchanges: What You Need to Know

1031 Exchanges: What You Need to Know

U.S. Internal Revenue Code Section 1031 allows real estate investors to swap one property for another and defer recognizing some or all the gain and the related tax liability from the sale of the first property—assuming some very specific rules are met. Over the...

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American Rescue Plan Act

American Rescue Plan Act

The American Rescue Plan Act (ARPA) of 2021 is a $1.9 trillion economic stimulus bill signed into law on March 11, 2021. Some of the highlights of the business provisions include: Employee retention credit – Extended for quarters through December 31, 2021 The...

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Video: Executor Responsibilities

Being an executor of an estate is an honor but also a big responsibility. Are you up to it? Amy is letting you know your responsibilities as a loved one’s estate executor. Contact her here if you have any questions about being an executor of an estate. Executor...

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Maximizing Your Retirement Dollars

Maximizing Your Retirement Dollars

You may be mid-career and saving for retirement or getting ready to jump into a retired lifestyle. Whatever stage you’re in, any tax consultant or financial advisor will tell you, “the best time to plan for that eventuality is now.” This is especially important in the...

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