Internally generated goodwill isn’t on the balance sheet. But acquired goodwill is another story. Do you know the rules for reporting acquired goodwill and subsequently testing it for impairment? This is a hot button for many organizations today. Continue Reading Goodwill in a Bad Economy
Do you know the differences between cash and accrual accounting methods? Some small business owners are unaware of the options that are now available to them. Continue Reading Deciding Between Cash and Accrual Accounting Methods
Here are some of the key federal tax-related deadlines that apply to businesses and other employers during the second quarter of 2022. Continue Reading 2022 Q2 Tax Calendar: Key Deadlines For Businesses And Other Employers
Is your board overlooking potential financial disasters? Continue Reading Your Nonprofit’s Board Needs to Know These Financial Warning Signs
The first page of audited financial statements is the auditor’s report. Continue Reading 4 Levels of Audit Opinions
Many employees have been happy working from home during the pandemic, but some workers may have experienced feelings of disconnection and isolation. Continue Reading Keeping Your Nonprofit’s Remote Workers Connected
Spring is the time of year that calendar-year-end businesses issue financial statements and prepare tax returns. Continue Reading Take Your Financial Statements to the Next Level
Audited financial statements contain footnotes that disclose information that’s vital to making well-informed lending and investing decisions. Continue Reading Audit Disclosures: Why the Fine Print is Important
Traditional and Roth IRAs can help you save for retirement on a tax-favored basis. Contributions to a traditional IRA reduce your current tax bill, if you’re eligible, and earnings are tax-deferred. Continue Reading The Ins and Outs of IRAs
While Congress didn’t pass the Build Back Better Act in 2021, there are still tax changes that may affect your tax situation for this year. Continue Reading How Will Revised Tax Limits Affect Your 2022 Taxes?
The CalSavers retirement savings program was first signed into law in 2016 for private sector workers whose employers do not already offer a retirement plan. Employers who already offer a retirement plan are exempt from this requirement. Continue Reading CalSavers Deadline is Approaching for California Employers
The SECURE Act nixed the “stretch IRA” and replaced it with a new 10-year rule on inherited IRAs. However, subsequent IRS guidance has created confusion about when certain beneficiaries must begin taking distributions. Continue Reading Proposed Regs for Inherited IRAs Bring Unwelcome Surprises
If your business has independent contractors or makes other payments to customers or others, you probably file 1099 forms with the IRS. The tax agency is currently sending out notices about these forms to some taxpayers. Continue Reading Businesses May Receive Notices About Information Returns That Don’t Match IRS Records
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