Financial Statements at a Glance
Financial statements tell investors information about an organization’s financial performance, helping to ensure corporate transparency and ...
Plan Now for Year-end Gifts with the Gift Tax Annual Exclusion
Now that Labor Day has passed, the holidays are just around the corner. Many people may want to make gifts of cash or stock to their loved ones. By ...
IRS Issues Guidance on New Retirement Catch-up Contribution Rules
In December 2022, President Biden signed the Setting Every Community Up for Retirement Enhancement (SECURE) 2.0 Act. Among other things, the sweeping ...
7 Essential Questions to Ask Before Hiring a Bookkeeping Service
Bookkeeping services are essential to any growing business, but the idea of hiring a bookkeeper can be intimidating for any small business owner. ...
IRS Suspends Processing of ERTC Claims
In the face of a flood of illegitimate claims for the Employee Retention Tax Credit (ERTC), the IRS has imposed an immediate moratorium through at ...
What is Reasonable Compensation for an S Corp?
Reasonable compensation for owners of S Corporations is an IRS audit issue.
IRS Provides Transitional Relief for RMDs and Inherited IRAs
The IRS has issued new guidance providing transitional relief related to recent legislative changes to the age at which taxpayers must begin taking ...
Starting A Business? How Expenses Will Be Treated on Your Tax Return
Government officials saw a large increase in the number of new businesses launched during the COVID-19 pandemic. And the U.S. Census Bureau reports ...
Why Some Small Businesses Are Switching to Tax-Basis Reporting
Accrual-basis financial statements are considered by many to be the gold standard in financial reporting. But with the increasing cost and complexity ...