Mobile banking has been gaining in popularity, and the pandemic only intensified the interest. Many people are increasingly willing to use mobile banking apps to cash checks, transfer funds and perform various other tasks instead of visiting physical branches of their financial institutions. However, multinational cybersecurity firm Kaspersky notes that cybercriminals are targeting mobile banking users…

Reasonable compensation is an issue that comes into play in divorce, shareholder disputes and tax cases. It’s also a common financial statement adjustment that valuators make when valuing a business. Although experts are often hired to make the calculations, business owners and attorneys should understand how they do it. Multiple Factors Valuators weigh a variety of factors…

An employee stock ownership plan (ESOP) can facilitate the transfer of a business to the owner’s children or employees over a period of years in a tax-advantaged way. However, the IRS recently issued a statement warning businesses about a range of compliance issues related to ESOPs and announcing plans to ramp up compliance enforcement. The IRS…