New Option for Unused Funds in a 529 College Savings Plan
With the high cost of college, many parents begin saving with 529 plans when their children are babies. Contributions to these plans aren’t tax deductible, but they […]
Preventing Fraud Losses Across Multiple Business Locations
If you operate your business in multiple locations (as with retail or restaurant chains), you face some extraordinary fraud-prevention challenges. After all, you […]
Tax-Wise Ways to Take Cash from your Corporation while Avoiding Dividend Treatment
If you want to withdraw cash from your closely held corporation at a low tax cost, the easiest way is to distribute cash […]
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 […]
When to Consider Subsequent Events in a Business Valuation
Business valuators sometimes consider major events that happen after the valuation date. For example, what if a business is subsequently sold, files for […]
If You Didn’t Contribute to an IRA Last Year, There’s Still Time
If you’re gathering documents to file your 2023 tax return and you’re concerned that your tax bill may be higher than you’d like, there might still be […]
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 gift […]
Early Revenue Recognition: Not Just Bad Accounting, But Fraud
Although financial statement fraud is the least common form of occupational theft (9% of incidents), it costs organizations the most in financial losses, according to the Association […]
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 purposes. […]
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 certain […]
