Latest News and Information

February 20, 2024

Taking your spouse on a business trip? Can you write off the costs?

A recent report shows that post-pandemic global business travel is going strong. The market reached $665.3 billion in 2022 and is estimated to hit $928.4 billion by 2030,

February 19, 2024

Should employers offer long-term care insurance as a fringe benefit?

Most employees today recognize the need to save for retirement and expect to be offered a 401(k) or other qualified plan when hired. But there’s another

February 16, 2024

Auditing revenue recognition

The top line of an income statement for a for-profit business is revenue (or sales). Reporting this line item correctly is critical to producing accurate financial

February 14, 2024

Get ready for the 2023 gift tax return deadline

Did you make large gifts to your children, grandchildren or others last year? If so, it’s important to determine if you’re required to file a 2023

February 13, 2024

What’s the best accounting method route for business tax purposes?

Businesses basically have two accounting methods to figure their taxable income: cash and accrual. Many businesses have a choice of which method to use for tax

February 12, 2024

What employers should know about skills-based hiring

Most anyone who’s ever put together a resume would probably tell you the easiest part is the very end. That’s where you put your educational degrees.

February 9, 2024

Liquidity overload: Why having too much cash may be bad for business

In today’s uncertain marketplace, many businesses are stashing operating cash in their bank accounts, even though they might not have imminent plans to deploy their reserves.

February 7, 2024

Filing jointly or separately as a married couple: What’s the difference?

When you file your tax return, a tax filing status must be chosen. This status is used to determine your standard deduction, tax rates, eligibility for

February 6, 2024

9 tax considerations if you’re starting a business as a sole proprietor

When launching a small business, many entrepreneurs start out as sole proprietors. If you’re launching a venture as a sole proprietorship, you need to understand the

February 5, 2024

Employers: Beware of payroll tax errors

Many employers rightly proclaim that their employees are their most valuable assets. If this holds true for your organization, it stands to reason that paying those

February 2, 2024

Inventory management systems: What’s right for your business?

If your business has significant inventory on its balance sheet, it can be costly. The carrying costs of inventory include warehousing, salaries, insurance, taxes, and transportation,

January 31, 2024

If you gave to charity in 2023, check to see that you have substantiation

Did you donate to charity last year? Acknowledgment letters from the charities you gave to may have already shown up in your mailbox. But if you

January 30, 2024

Update on IRS efforts to combat questionable Employee Retention Tax Credit claims

The Employee Retention Tax Credit (ERTC) was introduced back when COVID-19 temporarily closed many businesses. The credit provided cash that helped enable struggling businesses to retain

January 29, 2024

Using constructive feedback to bring employees back from the brink

You’ve probably heard that an employer will likely spend less money trying to improve an employee’s performance than it would firing the worker and hiring someone

January 26, 2024

Solid financial reporting can help attract debt and equity financing

Financial reporting plays a key role when a business needs funds for continued operations and strategic investment opportunities. Lenders and investors will generally want to review

January 24, 2024

IRAs: Build a tax-favored retirement nest egg

Although traditional IRAs and Roth IRAs have been around for decades, the rules involved have changed many times. The Secure 2.0 law, which was enacted at

January 23, 2024

Should your business offer the new emergency savings accounts to employees?

As part of the SECURE 2.0 law, there’s a new benefit option for employees facing emergencies. It’s called a pension-linked emergency savings account (PLESA) and the

January 22, 2024

New final rule on independent contractors takes effect in March

It’s safe to say that “gig workers” are firmly ensconced in the U.S. economy — especially in certain industries. And we don’t mean only those helpful