3 common forms of insurance fraud

Friday, April 26, 2024
Businesses of all shapes and sizes are well-advised to buy various forms of insurance to manage operational risks. But insurance itself is far from risk-free. You might overpay for a...... Read More

Why it’s important to get your company’s financials done on time

Thursday, April 25, 2024
Have you completed your company’s year-end financial statements yet? Most calendar-year entities issue their year-end financials by March of the following year. Lenders and investors may think the worst if...... Read More

New option for unused funds in a 529 college savings plan

Tuesday, April 23, 2024
With the high cost of college, many parents begin saving with 529 plans when their children are babies. Contributions to these plans aren’t tax deductible, but they grow tax deferred....... Read More

What’s the best accounting method route for business tax purposes?

Monday, April 22, 2024
Businesses basically have two accounting methods to figure their taxable income: cash and accrual. Many businesses have a choice of which method to use for tax purposes. The cash method...... Read More

Guidance on tax treatment of energy efficiency rebates

Friday, April 19, 2024
The Inflation Reduction Act (IRA) established and expanded numerous incentives to encourage taxpayers to increase their use of renewable energy and adoption of a range of energy-efficient improvements. In particular,...... Read More

Auditing revenue recognition

Thursday, April 18, 2024
The top line of an income statement for a for-profit business is revenue (or sales). Reporting this line item correctly is critical to producing accurate financial statements. Under U.S. Generally...... Read More

Filing jointly or separately as a married couple: What’s the difference?

Tuesday, April 16, 2024
When you file your tax return, a tax filing status must be chosen. This status is used to determine your standard deduction, tax rates, eligibility for certain tax breaks and...... Read More

9 tax considerations if you’re starting a business as a sole proprietor

Monday, April 15, 2024
When launching a small business, many entrepreneurs start out as sole proprietors. If you’re launching a venture as a sole proprietorship, you need to understand the tax issues involved. Here...... Read More

Liquidity overload: Why having too much cash may be bad for business

Thursday, April 11, 2024
In today’s uncertain marketplace, many businesses are stashing operating cash in their bank accounts, even though they might not have imminent plans to deploy their reserves. However, excessive “rainy day”...... Read More

IRAs: Build a tax-favored retirement nest egg

Tuesday, April 09, 2024
Although traditional IRAs and Roth IRAs have been around for decades, the rules involved have changed many times. The Secure 2.0 law, which was enacted at the end of 2022,...... Read More