2.25.20
Accounting for the Near and the Long Term in a Family Budget
A wise person once said, “Simplicity is the key to a family budget.” (He or she may or may not have been an accountant.) However,…
2.25.20
Own a Pass-Through Entity? Beware the Ides of March
“Beware the Ides of March.” Shakespeare’s words don’t apply just to Julius Caesar; they also apply to calendar-year partnerships, S corporations and limited liability companies…
2.25.20
Careful Tax Planning Required for Incentive Stock Options
Incentive stock options (ISOs) are a popular form of compensation for executives and other key employees. They allow you to buy company stock in the…
2.25.20
The TCJA Effect: Qualified Residence Interest
The Tax Cuts and Jobs Act (TCJA) made a significant impact — both directly and indirectly — on the deductibility of various types of interest…
2.25.20
Ghosting Scams May Keep Your Loved Ones From Resting in Peace
It’s bad enough that the living have to worry about identity theft. But criminals also exploit the deceased with “ghosting” schemes. These thieves steal the…
2.24.20
Numerous Tax Limits Affecting Businesses Have Increased for 2020
An array of tax-related limits that affect businesses are annually indexed for inflation, and many have increased for 2020. Here are some that may be…
2.24.20
Cents-Per-Mile Rate for Business Miles Decreases Slightly for 2020
This year, the optional standard mileage rate used to calculate the deductible costs of operating an automobile for business decreased by one-half cent, to 57.5…
2.20.20
Taking Command of Your Internal Controls
Internal controls are an essential part of every business to help reduce misstatements in finances due to fraud or error. Construction companies are vulnerable to…
2.12.20
5 Best Practices When Investigating an Employee Complaint
“All complaints will be swiftly and thoroughly investigated.” No doubt this sentence, or something similar, appears in your company’s employee handbook. Unfortunately, there will likely…
1.31.20
Implementation of New Lease Accounting Standard Deferred One Additional Year for Private Companies
On February 25, 2016, the Financial Accounting Standards Board (FASB) issued an Accounting Standards Update (ASU) intended to improve the financial reporting of leasing transactions.…