Why Some Businesses Choose to Implement a Pivot Strategy

Friday, June 28, 2024
When you come across the word "pivot", it might bring to mind a politician altering their stance on an issue or a group of friends maneuvering a couch down a...... Read More

How to Communicate Accounting Information to Laypeople

Thursday, June 27, 2024
Precise and prompt financial information is crucial for executives, board members, investors, and other stakeholders to make informed decisions. However, not all recipients of your financial statements will understand the...... Read More

IRS Plans to Keep ERC Processing Moratorium in Place

Wednesday, June 26, 2024
The IRS has entered the next stage of its work on the Employee Retention Credit (ERC), following a comprehensive review that indicated a significant majority of claims are at risk...... Read More

Be Mindful of Tax Regulations When Transitioning a Hobby Into a Business

Tuesday, June 25, 2024
Countless individuals aspire to transform their hobbies into sustainable businesses. For instance, you might envision starting a charter fishing business if you're passionate about boating, or you could explore monetizing...... Read More

Don’t have a tax-favored retirement plan? Set One Up Now

Monday, June 24, 2024
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

7 Payroll Risks for Small to Medium Businesses

Friday, June 21, 2024
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

It’s Time for a Midyear Checkup on Your Company’s Financial Health

Thursday, June 20, 2024
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

Tax Implications When Selling a Vacation Home

Tuesday, June 18, 2024
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

Scrupulous records and legitimate business expenses are the key to less painful IRS audits

Monday, June 17, 2024
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

A General Look at Generative AI for Businesses

Friday, June 14, 2024
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