Eligible tax breaks for adopting a child

Tuesday, February 28, 2023
Two tax benefits are available to offset the expenses of adopting a child. In 2022, adoptive parents may be able to claim a credit against their federal tax for up...... Read More

Employers can provide fringe benefits to employees with no tax strings attached

Monday, February 27, 2023
Businesses can provide benefits to employees that don’t cost them much or anything at all. However, in some cases, employees may have to pay tax on the value of these...... Read More

Should you update your accounting practices?

Thursday, February 23, 2023
If you ask some business owners why they do things a certain way, they might answer, “Because we’ve always done it that way.” But with all the changes that have...... Read More

How are savings bonds taxed?

Tuesday, February 21, 2023
Many people have savings bonds that were purchased many years ago. Perhaps they were given to your children as gifts or maybe you bought them yourself. You may wonder how...... Read More

2023 HSAs limits

Monday, February 20, 2023
No one needs to remind business owners that the cost of employee health care benefits keeps going up. One way to provide some of these benefits is through an employer-sponsored...... Read More

If your CFO or controller leaves, what do you do?

Thursday, February 16, 2023
A leadership departure in your accounting department can create turmoil, at least temporarily. However, it also provides an opportunity to assess the department’s performance and create a vision for how...... Read More

When do Secure 2.0 provisions go into effect?

Tuesday, February 14, 2023
A new law was recently signed that will help Americans save more for retirement, although many of the provisions don’t kick in for a few years. The Setting Every Community...... Read More

You can save more for retirement in 2023

Monday, February 13, 2023
How much can you and your employees contribute to your 401(k)s next year — or other retirement plans? In Notice 2022-55, the IRS recently announced cost-of-living adjustments that apply to...... Read More

Accounting policies and procedures are essential for nonprofits

Thursday, February 09, 2023
Financial reporting isn’t all about profits. Not-for-profit entities can also benefit from implementing formal accounting processes. From preparing budgets and monitoring financial results to paying invoices and handling payroll tax,...... Read More

Getting the most out of your 401(k) plan

Tuesday, February 07, 2023
Socking away money in a tax-advantaged retirement plan can help you reduce taxes and help secure a comfortable retirement. If your employer offers a 401(k) or Roth 401(k), contributing to...... Read More