Darnall, Sikes & Frederick CPAs

Darnall, Sikes & Frederick CPAs In the world of business, problems arise every day. Keep your business moving forward with Darnall, Sikes & Frederick.

Growth is exciting, but it can also create new tax considerations.As businesses expand, it’s important to revisit:• Enti...
06/18/2026

Growth is exciting, but it can also create new tax considerations.

As businesses expand, it’s important to revisit:
• Entity structure
• Payroll obligations
• Multi-state and international tax exposure
• Equipment purchases
• Quarterly tax estimates

Planning ahead can help businesses scale more efficiently while avoiding costly surprises down the road.

𝐹𝑟𝑎𝑢𝑑 𝐹𝑟𝑖𝑑𝑎𝑦, written by shareholder Kyle P. Saltzman, CPA, CFE, shares real-world cases every other Friday to help orga...
06/12/2026

𝐹𝑟𝑎𝑢𝑑 𝐹𝑟𝑖𝑑𝑎𝑦, written by shareholder Kyle P. Saltzman, CPA, CFE, shares real-world cases every other Friday to help organizations recognize risks and strengthen controls.

This week's case highlights an alleged $3 million fraud scheme inside a commercial cleaning company. Authorities charged a former operations manager and eight others, alleging they diverted payroll funds to family members and approved payments on fraudulent subcontractor invoices.

The scheme was uncovered during a corporate restructuring that revealed unusual transactions. While investigators believe the fraud may have lasted nearly 15 years, record retention limitations restricted the company's review to records dating back to 2015.

Cases involving multiple participants can be extremely difficult for internal controls to detect. This serves as a reminder of the importance of strong oversight, employee screening and ongoing fraud risk monitoring.

https://loom.ly/9eBUV2c

Tax deadlines don’t always end in April.Businesses and individuals should stay aware of upcoming filing requirements, es...
06/10/2026

Tax deadlines don’t always end in April.

Businesses and individuals should stay aware of upcoming filing requirements, estimated payment due dates and extension deadlines throughout the year. Missing key dates can lead to unnecessary penalties and added stress.

A proactive approach and a trusted accounting partner can help keep everything on track.

Looking for ways to lower taxable income while investing in your future?Retirement contributions may offer valuable tax ...
06/04/2026

Looking for ways to lower taxable income while investing in your future?

Retirement contributions may offer valuable tax advantages for both individuals and business owners. Depending on your situation, options like IRAs, 401(k)s and SEP plans can help reduce current tax liability while supporting long-term financial goals.

Working with a trusted advisor can help ensure you’re maximizing available opportunities before key deadlines.

𝐎𝐩𝐩𝐨𝐫𝐭𝐮𝐧𝐢𝐭𝐲 𝐙𝐨𝐧𝐞 𝐈𝐧𝐯𝐞𝐬𝐭𝐦𝐞𝐧𝐭𝐬: 𝐖𝐡𝐚𝐭’𝐬 𝐂𝐡𝐚𝐧𝐠𝐢𝐧𝐠?The One Big Beautiful Bill Act (OBBBA) introduces key updates to Qualified...
06/02/2026

𝐎𝐩𝐩𝐨𝐫𝐭𝐮𝐧𝐢𝐭𝐲 𝐙𝐨𝐧𝐞 𝐈𝐧𝐯𝐞𝐬𝐭𝐦𝐞𝐧𝐭𝐬: 𝐖𝐡𝐚𝐭’𝐬 𝐂𝐡𝐚𝐧𝐠𝐢𝐧𝐠?

The One Big Beautiful Bill Act (OBBBA) introduces key updates to Qualified Opportunity Zone (QOZ) investments, creating new tax planning opportunities for investors.

🔍 Highlights include:
• Continued capital gains tax deferral and reduction opportunities
• Reduced "substantial improvement" threshold (100% → 50%)
• Updated reporting requirements for Qualified Opportunity Funds
• Tax benefits tied to 5-, 7- and 10-year holding periods
• Potential basis step-ups for long-term investments

In our latest blog, 𝐁𝐞𝐭𝐡𝐚𝐧𝐲 𝐖𝐞𝐛𝐫𝐞 explains what these changes could mean for investors and their advisors.

👉 Read more: https://loom.ly/1sRzNWk

𝐹𝑟𝑎𝑢𝑑 𝐹𝑟𝑖𝑑𝑎𝑦, written by shareholder Kyle P. Saltzman, CPA, CFE, shares real-world cases every other Friday to help orga...
05/29/2026

𝐹𝑟𝑎𝑢𝑑 𝐹𝑟𝑖𝑑𝑎𝑦, written by shareholder Kyle P. Saltzman, CPA, CFE, shares real-world cases every other Friday to help organizations recognize risks and strengthen controls.

This week, a South Florida spine surgeon alleges a former payroll manager stole more than $2.4 million from his practice over a seven-year period.

According to reports, the employee manipulated payroll records and issued herself unauthorized raises and bonuses, averaging approximately $340,000 per year in extra compensation.

Cases like this serve as a reminder that fraud often thrives when one person has too much control and too little oversight. Strong internal controls and independent review remain essential safeguards for every business.

See you again in two weeks for another Fraud Friday!

https://loom.ly/2bwW-8U

Small business owners: keeping clean, organized financial records throughout the year can save valuable time and money d...
05/27/2026

Small business owners: keeping clean, organized financial records throughout the year can save valuable time and money during tax season.

A few best practices:
• Separate business and personal expenses
• Track receipts digitally
• Reconcile accounts monthly
• Monitor deductible expenses regularly
• Meet with your CPA before year-end

Good bookkeeping isn’t just about compliance. It helps business owners make more informed decisions year-round.

Land of the free because of the brave. This Memorial Day, we pause to remember those who served and sacrificed for our n...
05/25/2026

Land of the free because of the brave. This Memorial Day, we pause to remember those who served and sacrificed for our nation.

𝐹𝑟𝑎𝑢𝑑 𝐹𝑟𝑖𝑑𝑎𝑦, written by shareholder 𝐊𝐲𝐥𝐞 𝐒𝐚𝐥𝐭𝐳𝐦𝐚𝐧, 𝐂𝐏𝐀, 𝐂𝐅𝐄, shares real-world cases every other Friday to help organiz...
05/22/2026

𝐹𝑟𝑎𝑢𝑑 𝐹𝑟𝑖𝑑𝑎𝑦, written by shareholder 𝐊𝐲𝐥𝐞 𝐒𝐚𝐥𝐭𝐳𝐦𝐚𝐧, 𝐂𝐏𝐀, 𝐂𝐅𝐄, shares real-world cases every other Friday to help organizations recognize risks and strengthen controls.

This week's story focuses on the theft of more than $3.7 million from the Atlanta Hawks organization — a scheme that ultimately earned the former employee a three-year federal prison sentence and an order to repay nearly $3.9 million in restitution.

Prosecutors say the employee exploited his authority and control over the team’s credit card system to carry out the fraud over an extended period of time.

Rather than using the funds for legitimate business expenses, investigators found the stolen money fueled a luxury lifestyle that included jewelry purchases, vacations, event tickets and other high-end personal spending.

https://loom.ly/L2Z8Tu8

Tax season may be over, but smart tax planning happens year-round.Mid-year is the perfect time for businesses and indivi...
05/21/2026

Tax season may be over, but smart tax planning happens year-round.

Mid-year is the perfect time for businesses and individuals to review:
• Estimated tax payments
• Business deductions
• Retirement contributions
• Cash flow and major purchases
• Potential tax law changes

Proactive planning now can help reduce surprises later and create opportunities before year-end deadlines arrive.

The team at Darnall, Sikes & Frederick helps clients stay prepared with strategic tax guidance tailored to their goals.

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