Claiming Losses on worthless or depreciated stock

Tuesday, May 16, 2023
Have you bought stock in a company that later dropped in value? While you may prefer to forget such an ill-fated investment, at least you can claim a capital loss...... Read More

Allowable home office expenses if you run a business

Monday, May 15, 2023
Many people began working from home during the COVID-19 pandemic — and many still work from their home offices either all the time or on a hybrid basis. If you’re...... Read More

Tap into specialized functions in Quickbooks

Thursday, May 11, 2023
QuickBooks® provides an all-in-one solution that helps some small and medium-sized businesses manage their finances. While QuickBooks provides the accounting backbone for many companies, it has advanced features that go...... Read More

Is money awarded in a lawsuit or settlement considered tax-free?

Tuesday, May 09, 2023
You generally must pay federal tax on all income you receive but there are some exceptions when you can exclude it. For example, compensatory awards and judgments for “personal physical...... Read More

Key tax issues in M&A transactions

Monday, May 08, 2023
Merger and acquisition activity dropped dramatically last year due to rising interest rates and a slowing economy. The total value of M&A transactions in North America in 2022 was down...... Read More

How can visual aids enhance your financial reporting

Thursday, May 04, 2023
Graphs, charts, tables and other data visualizations can be inserted in your financial statement disclosures to improve transparency and draw attention to key accomplishments. As your organization prepares its year-end...... Read More

Tax-wise ways to save for college

Tuesday, May 02, 2023
If you’re a parent or grandparent with college-bound children, you may want to save to fund future education costs. Here are several approaches to take maximum advantage of the tax-favored...... Read More

Tax implications for your employees that receive tips

Monday, May 01, 2023
Many businesses in certain industries employ individuals who receive tips as part of their compensation. These businesses include restaurants, hotels and salons.Tip definitionTips are optional payments that customers make to...... Read More

10 questions to ask bookkeeper candidates

Thursday, April 27, 2023
Are you looking for someone to manage the books and records for your small business? Whether you’re operating a startup or an established business that recently lost its bookkeeper, hiring...... Read More

Watch out for tax traps when renting to a relative

Tuesday, April 25, 2023
If you own a home and rent it to a relative, you may be surprised to find out there could be tax consequences. A quick rundown of the rules Renting...... Read More