Family businesses often start out small, with casual operational approaches. However, informal (or nonexistent) policies and procedures can become problematic as such companies grow.Employees may grumble about unclear, inconsistent rules....... Read More
Audit season is just around the corner for calendar-year entities. Understanding the types of source documents your audit team might request can minimize disruptions during audit fieldwork and maximize your...... Read More
There are two tax breaks that help eligible parents offset the expenses of adopting a child. In 2025, adoptive parents may be able to claim a credit against their federal...... Read More
Intangible assets, such as patents, trademarks, copyrights and goodwill, play a crucial role in today’s businesses. The tax treatment of these assets can be complex, but businesses need to understand...... Read More
When start-ups launch, their focus is often on tightly controlling expenses. Most need to establish a brand and some semblance of stability before funding anything other than essential operating activities.For...... Read More
A well-structured chart of accounts is essential for accurate financial reporting. A poorly organized chart, or one that groups transactions into vague, undefined categories, can hinder management’s ability to assess...... Read More
Medicare health insurance premiums can add up to big bucks — especially if you’re upper-income, married, and you and your spouse both pay premiums. Read on to understand how taxes...... Read More
Understanding how to deduct transportation costs could significantly reduce the tax burden on your small business. You and your employees likely incur various local transportation expenses each year, and they...... Read More
Properly prepared financial statements provide a wealth of information about your company. But the operative words there are “properly prepared.” Classifying information accurately isn’t always easy — especially as the...... Read More
Pretax (accounting) profit, as reported on your company’s income statement, is a key metric that lenders, investors, and other stakeholders use to assess financial performance. However, business owners should also...... Read More
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