If you’re a business owner and you hire your children (or grandchildren) this summer, you can obtain tax breaks and other non-tax benefits. The kids can gain on-the-job experience, save for college and learn how to manage money. And you… Read More
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When to Update Your Estate Plan
Estate planning isn’t just for the rich and famous. Many people mistakenly think that they don’t need an estate plan anymore because of the latest tax law changes. While it’s true that the Tax Cuts and Jobs Act (TCJA) provides… Read More
How to Benefit from the Rising Average Age of American Workers
By 2026, nearly one in four workers will be 55 and older. That’s compared to about one in five today, according to the U.S. Bureau of Labor Statistics. So, the proportion of younger workers in the overall labor pool will… Read More
Consider a Rother 401(k) Plan–And Make Sure Employees Use It
Roth 401(k) accounts have been around for 13 years now. Studies show that more employers are offering them each year. A recent study by the Plan Sponsor Council of America (PSCA) found that Roth 401(k)s are now available at 70%… Read More
Lean Manufacturers: Reap the Benefits of Lean Accounting
Standard cost accounting doesn’t necessarily work for lean operations. Instead, lean accounting offers a simplified reporting alternative that generates more timely, relevant financial data. But it’s not right for every situation. What’s lean manufacturing? Lean manufacturers strive for continuous improvement… Read More
Close-up on Professional Standards for CPAs
The accounting profession is largely self-regulated by the American Institute of Certified Public Accountants (AICPA). Part of its mission involves the development and enforcement of a broad range of standards for the profession. Why do these standards matter to you?… Read More
How Entrepreneurs Must Treat Expenses on Their Tax Returns
Have you recently started a new business? Or are you contemplating starting one? Launching a new venture is a hectic, exciting time. And as you know, before you even open the doors, you generally have to spend a lot of… Read More
Protect Elderly Family Members Against Financial Exploitation
Every year, thousands of elderly Americans fall victim to elder abuse and financial exploitation scams, sometimes at the hand of their spouses or adult children. In fact, suspicious Activity Reports (SARs) related to elder financial exploitation have quadrupled the last… Read More
Records Retention Guidelines to Remember During Spring Cleaning
Warm weather and rainy days bring the urge to purge. But before you clean your file cabinets or declutter your computer files, it’s important to review these guidelines. Federal Tax Records Most tax advisors recommend that you retain copies of your… Read More
Deducting Business Meal Expenses Under Today’s Tax Rules
In the course of operating your business, you probably spend time and money “wining and dining” current or potential customers, vendors and employees. What can you deduct on your tax return for these expenses? The rules changed under the Tax… Read More