Many companies struggle to follow the accounting rules for revenue recognition, particularly if they work on long-term projects. An external audit can help you get it right. Continue Reading Auditing revenue recognition

How much can you save in an IRA this year and when do you have to start making withdrawals? Here are the answers to these and other IRA questions.
Continue Reading IRAs: Build a tax-favored retirement nest egg

What’s materiality? This is an important accounting concept to review before audit fieldwork starts for your 2023 year-end financials. Continue Reading Auditing concepts: Close-up on materiality

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 with a Section 1031 “like-kind” exchange. With this transaction, you exchange the property rather than sell it. A like-kind exchange is any exchange of real property held for investment or for productive use in your trade or business for like-kind investment, trade or business real property. Like-kind exchanges can be an attractive tax-deferred way to dispose of real property if you anticipate a large tax bill and meet the federal and state requirements. Continue Reading Defer a current tax bill with a like-kind exchange

Whether you are considering selling investments, making charitable gifts, or looking forward to the future with some estate planning we have strategies to help optimize your tax plan. Continue Reading 2023 Individual Tax Planning Pointers