Financial reporting generally focuses on the results of continuing operations. But sometimes businesses sell (or retire) a product line, asset group or another component. In certain situations, such a disposal should be reported as a discontinued operation under U.S. Generally… Read More
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Let’s Find a Better Way to Manage Your Receivables
Failure to collect accounts receivable (AR) in a timely manner can lead to myriad financial problems for your company, including poor cash flow and the inability to pay its own bills. Here are five effective ideas to facilitate more timely… Read More
Year-End Strategies to Reduce AGI
Reducing your current-year adjusted gross income (AGI) is usually a tax-smart idea. Here are ten ways to reduce your AGI (and modified AGI) over the short and long run. Closeup on AGI AGI equals all taxable income items minus selected… Read More
Some TCJA Provisions Could Cost You
The Tax Cuts and Jobs Act (TCJA) includes tax breaks for both individuals and businesses. But some breaks were limited or eliminated. Notably, the rules for some employer-provided fringe benefits are less taxpayer friendly than before. For example, tax-favored treatment… Read More
14 Tax-Favored Fringe Benefits: What’s the Right Mix for Your Business?
Job applicants look at more than just wages when evaluating potential employers. They consider the whole compensation package, including fringe benefits and perks. These add-ons enable employers to cast a wider net in the job market, helping them attract and… Read More
What States are Saying About Gender Pay Discrimination in Hiring
According to the American Bar Association (ABA): Gender-based wage discrimination remains a pernicious problem in the workplace despite enactment over 50 years ago of the Equal Pay Act (EPA), which made it illegal for employers to pay unequal wages to… Read More
Bonus Depreciation for Your Business: Let’s Review Your Options
First-year bonus depreciation has been around for a while now. However, the Tax Cuts and Jobs Act (TCJA) set forth more-generous, but temporary, rules for 2018 through 2026. Recent IRS guidance gives you additional flexibility to fine-tune the bonus depreciation… Read More
2019 Q4 Tax Calendar: Key Deadlines for Businesses and Other Employers
Here are some of the key tax-related deadlines affecting businesses and other employers during the fourth quarter of 2019. Keep in mind that this list isn’t all-inclusive, so there may be additional deadlines that apply to you. Contact us to… Read More
Tax Implications of Refinancing Your Home
You may be thinking about refinancing this year to take advantage of falling interest rates. Or you may have refinanced your home mortgage last year and have yet to file your 2018 return (because you filed an extension). Either way,… Read More
FAQs About Virtual Currency and Your Taxes
Virtual currency has gone mainstream. AT&T recently announced that its customers can use Bitcoin to pay their phone bills. Other big companies that accept Bitcoin include Microsoft, Expedia and Overstock. Competitors likely will follow suit. However, using virtual currency has… Read More