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?
When reviewing your company’s inventory practices, start by evaluating whether you’re using the right accounting method. Continue Reading Reporting and Managing Inventory
Key performance indicators (KPIs) are the keys to operating a successful business, especially during times of uncertainty. Continue Reading KPIs: What Are They, and Which Ones Count?
When customers make last-minute changes to contracts, it can be frustrating, and the accounting rules for reporting change orders can be complex. Continue Reading How to Account for Change Orders
While digitalization continues to take hold of the business world, the billing and collections functions at many organizations remain largely paper based. Continue Reading Digitizing the Accounts Receivable Process
As businesses head into 2022, they face unprecedented challenges. In response, many are using so-called “rolling” forecasts to help guide decision-making. Continue Reading Rolling Forecasts Provide Flexibility in Uncertain Times
Local governments often provide tax breaks and other financial incentives to lure businesses to town. How much detail are businesses required to disclose about these transactions? Continue Reading Coming Soon: New Accounting Rule on Government Assistance Disclosures
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Advantages of keeping your business separate from its real estate
/in Tax/by KKB CPAsIt may be advantageous to separate ownership of a business’s real estate from the business. But it isn’t always advisable. Here’s a look at the issues. Continue Reading Advantages of keeping your business separate from its real estate
Cutoffs: When to report revenue and expenses
/in Tax/by KKB CPAsDoes your company follow the cutoff rules? Loose interpretation of the accounting rules can lead to errors and unexpected audit adjustments. Here’s how to get it right. Continue Reading Cutoffs: When to report revenue and expenses
Help ensure your partnership or LLC complies with tax law
/in Tax/by KKB CPAsGuaranteed payments to partners and payments to retired partners are just two of the tax issues that should be addressed in your partnership (or LLC operating) agreement. Here are the details. Continue Reading Help ensure your partnership or LLC complies with tax law