If your business doesn’t already have a retirement plan, it might be a good time to take the plunge. Current retirement plan rules allow for significant tax-deductible contributions.For example, if...... Read More
If your company has been operating for a while, you might not focus much on your payroll system as long as it's functioning smoothly. However, don't become too complacent. Significant...... Read More
Interim financial reporting is crucial for managing a successful business. Yet, when reviewing midyear financial reports, it's important to acknowledge their potential shortcomings. These reports might not be as reliable...... Read More
Vacation homes located in high-end areas might significantly surpass their initial purchase prices. While this is advantageous, the question arises: what about taxes? Here, we outline three scenarios to illustrate...... Read More
If you operate a business, or you’re starting a new one, you know records of income and expenses need to be kept. Specifically, you should carefully record expenses to claim...... Read More
If you follow the news, you’ve probably heard a lot about artificial intelligence (AI) and how it’s slowly and steadily expanding into various aspects of our lives. One widely cited...... Read More
Inventory is a key balance sheet item for many companies. Depending on the nature of your operations, inventory may include raw materials, work-in-progress (WIP) inventory, and finished goods. While you...... Read More
Most people are genuinely appreciative of inheritances, and who wouldn’t enjoy some unexpected money? However, in some cases, it may turn out to be too good to be true. While...... Read More
If your small business is strapped for cash (or likes to save money), you may find it beneficial to barter or trade for goods and services. Bartering isn’t new —...... Read More
Business owners are commonly and rightfully urged to regularly generate financial statements in compliance with Generally Accepted Accounting Principles (GAAP). One reason why is external users of financial statements, such...... Read More
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