Real Estate Gains: Deferring Taxes with Like-kind Exchanges
If you’re interested in selling commercial or investment real estate that has appreciated significantly, one way to defer a tax bill on the gain is ...
IRS Underpayment Penalty Rate Jumps to 8%
Failing to keep up with tax payments now could lead to an expensive surprise come next spring. As of Oct. 1, the Internal Revenue Service is charging ...
Reporting Requirement for Shareholder Health Insurance
The IRS requires that an S-Corporation shareholder report the amount paid for each officer’s health insurance as additional wages on Form W-2 Box 1 ...
Importance of Obtaining W-9s and Issuing 1099s
To make the process as quick and painless as possible, follow these tips:
Investment Swings: What's the Tax Impact?
If your investments have fluctuated wildly this year, you may have already recognized some significant gains and losses. But nothing is decided ...
Cash Flow Management: 3 Tips from an Accounting Firm
Cash is essential to the health of your business. It's the accelerator that enables growth and ensures the business's very survival. To help business ...
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 ...