7.31.23
In Retrospect – A Look Back at Adoption of the New Accounting Standard for Leasing
Private companies were required to adopt the new lease accounting standard, FASB ASC 842, for their calendar year-end reporting date as of December 31, 2022.…
7.31.23
Is It the Right Time for Your Company To Consider Solar Panels?
Are you considering solar energy for your business but worried about the costs versus potential benefits? The Solar Investment Tax Credit (ITC) and the Solar…
7.31.23
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 required minimum…
7.24.23
A Tax-Smart Way To Develop and Sell Appreciated Land
Let’s say you own highly appreciated land that’s now ripe for development. If you subdivide it, develop the resulting parcels and sell them off for…
7.18.23
Estimated Tax Payments: Who Owes Them and When?
If you don’t have enough federal tax withheld from your paychecks and other payments, you may have to make estimated tax payments. This is the…
7.18.23
Are Scholarships Taxable?
If your child has been awarded a scholarship, that’s cause for celebration. For some students, it will mean the difference between going to the college…
7.18.23
Family Businesses Must Beware of Fraud
Family businesses make up a huge percentage of companies in the United States and produce much of the country’s gross domestic product. Often defined as…
7.18.23
Lost Your Job? Here Are the Tax Aspects of an Employee Termination
Despite the robust job market, some people are still losing their jobs. If you’re laid off or terminated from employment, taxes are probably the last…
7.17.23
Corporate Officers or Shareholders: How Should You Treat Expenses Paid Personally?
If you play a major role in a closely held corporation, you may sometimes spend money on corporate expenses personally. These costs may end up…
7.10.23
Use an S Corporation To Mitigate Federal Employment Tax Bills
If you own an unincorporated small business, you probably don’t like the size of your self-employment (SE) tax bills. No wonder! For 2023, the SE…