Have you met with your tax advisor to plan for 2023? The current tax year is already half over, and many tax planning moves require some time to implement. Fortunately, you still have several months to make changes. Here are four ideas to inspire small businesses and owners to take action to lower their tax obligations for this year.

Cost segregation studies are one of the best ways building owners can reduce their tax bills by accelerating depreciation deductions. However, the IRS has identified the studies as an audit target and has issued guidance for its examiners. This article provides information on an insider IRS guide that you can use to see how the tax agency examines cost segregation studies.

Remember when people used to write checks? Well they still do! If your business accepts or uses checks, be sure you’re on guard against fraud. This article points out that both customers and employees can pass along fraudulent checks, and it describes some warning signs to look for. A sidebar addresses what to do if you wind up with a bad check.

Firings or layoffs can trigger some employees to commit acts of vandalism or violence. And, unfortunately, workforce reductions may have become more common at your workplace in recent months. Severance packages, outplacement benefits and counseling might help, but these won’t satisfy everyone. Here are seven precautions to take that can help protect your business from harm.