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Business Tax Filing Due for Partnerships & S Cops
Partnerships & S-Corps, File a 2025 calendar year return (Form...
Mid-Feb, 2026 – E-File Opens
The IRS has given us a date finally! Mid-Feb, 2026,...
Filing Your 2026 Tax Return? The Stakes Just Got Higher
Picture two things happening at the same time. The agency responsible for reviewing your tax return is understaffed and buried under a backlog, and the...
Understanding Cash EBITDA
While Cash EBITDA isn’t recognized by generally accepted accounting principles (GAAP), it’s a way for company owners and investors to account for deferred revenue during...
Natural Disaster-Proof Your Finances
Hurricanes, floods, wildfires, tornadoes and earthquakes are becoming more severe and more frequent with each passing year. Without sufficient protection, these events can cause lasting...
7 Small Financial Habits for Big Success
You might have heard this saying, “A journey of a thousand miles begins with a single step,” which is from the Tao Te Ching by...
The Governance Wall and AI Regulation
The era of artificial intelligence as a competitive advantage has hit a structural barrier – the Governance Wall. Some time back in 2024 and 2025,...
Facilitating Access to Housing and In-State Tuition, Sanctioning Iran and the Battle Over DHS Funding
21st Century ROAD to Housing Act (HR 6644) – As many local governments face the problem of rising affordability and severe housing shortages, this bipartisan...
Understanding the Customer Acquisition Cost (CAC)
The Customer Acquisition Cost (CAC) measures how much a company spends to obtain new, additional customers. Oftentimes, this calculation is used with the customer lifetime...
Burying Time Capsules, Ending Payments to Dead People, and Safeguarding Voting Rights for U.S. Citizens
Disapproving the action of the District of Columbia Council in approving the DC Income and Franchise Tax Conformity and Revision Temporary Amendment Act of 2025...
Cloud Sovereignty vs. Big Tech: How Businesses Are Avoiding the ‘AI Lock-in’ Trap in 2026
Artificial intelligence (AI) is no longer a competitive advantage; it has become a necessary infrastructure. Businesses now heavily rely on AI-powered systems, from automated customer...
5 Tax Tips for High Earners
If you’re a high-income earner, generally defined as household incomes over $350,000, there are some key things you might want to keep in mind come...
Understanding Qualifying Dispositions
With 57 percent of public companies offering their workers employee stock purchase plans (ESPPs), according to the National Association of Stock Plan Professionals (NASPP), understanding...
Understanding Hidden Values
Companies that have assets on their balance sheet, but the values of those assets aren't accurately reflected, are considered to have hidden value. As part...
What Your Tax Preparer Wishes You Already Knew
Most people approach tax season thinking about one thing: getting their return done. What they rarely think about is what the experience looks like from...
Filing Your 2025 Taxes? Why Accuracy Matters More Than Ever This Year
Tax season is here, and while the IRS opened its doors for 2025 returns on Jan. 26, with the familiar April 15 deadline intact, this...
The Value of Diversifying with International Stocks
When investors think about building a strong equity portfolio, U.S. stocks often dominate the conversation. The United States is home to many of the world’s...
Completing FY2026 Budget Appropriations, Protecting Trafficked Victims, and Vetoing Special Interest Projects
Commerce, Justice, Science; Energy and Water Development; and Interior and Environment Appropriations Act, 2026 (HR 6938) – This Act is one of the remaining budget...
Reclaiming the Rent: Why 2026 is the Year Businesses Switch from SaaS to Sovereign Ownership
Every modern business is paying rent. Not for office space or equipment, but for the digital infrastructure that runs the company. This might include the...
5 Private Equity Predictions for 2026
For private equity investors, 2026 is going to be a good year. Financing conditions are stabilizing, interest rates are decreasing, and valuations are beginning to...
Scam-Proof Guidelines for Wiring Money
Wiring money is like sending cash: Once you’ve sent it, it’s gone. It is very difficult to retrieve – in fact, more difficult than recovering...
Understanding the Equity Multiplier
Whether you are an investor, an owner, or an internal financial analyst, understanding how the equity multiplier works and how to interpret it is a...
Accounting Considerations for Senior Debt
Also known as a Senior Note, Senior Debt consists of a company's outstanding loans collateralized by the business' assets. As the name implies, Senior Debt...
What to Expect from U.S. Tax Policy in 2026
After a whirlwind 2025 that produced what may be the largest tax bill in American history, the coming year looks dramatically different. Tax policy experts...
Improving Military Benefits, Relaxing Energy Regulations and Increasing Aviation Regulations
Veterans’ Compensation Cost-of-Living Adjustment Act of 2025 (S 2392) – This Act was introduced by Sen. Jerry Moran (R-KS) on July 23. It passed in...
What Frictionless WebAR Means for Creators, Brands and Small Businesses
The way people interact with the web is changing fast. Attention spans are shorter, app fatigue is real, and users no longer want to download,...
Passive Income 101
If you’re tired of the 9-to-5 grind, then passive income could be for you. While not a get-rich-quick scheme, it’s a way to build systems...
What Seniors Actually Got in the Latest Tax Bill
Campaign messaging would have you believe retirees just scored a major victory. The talking point is everywhere: Social Security benefits are now tax-free. But anyone...
Defining An Activity Cost Driver
An activity cost driver is anything that causes a company's variable costs to either reduce or grow. Since measuring an activity cost driver is a...
Accounting for Net Charge Offs
When it comes it understanding a net charge-off (NCO), it's the difference between any recovery of delinquent debt and gross charge-offs a business sees in...
What Families Need to Know About the New Trump Accounts
American parents now have access to a completely new savings tool designed to give children a financial foundation for the future. Established through The One...
Partial Government Funding, Promoting Transparency and Protecting Against Foreign Terrorism
Epstein Files Transparency Act (HR 4405) – The purpose of this bill is to require the Department of Justice to release all documents and records...
The New Face of Phishing: Techniques, Targets and Prevention
Phishing is a major threat that keeps evolving and has now become a sophisticated and costly cyber risk facing businesses of all sizes. Previously linked...
5 Rules for Giving to Charity
Giving to charity is good for a couple of reasons. First, giving to organizations you believe in is intrinsically good – for them and for...
Long Term Care Insurance Options
In 2024, the median household income in the United States was $83,730. However, the national average annual cost of 24-hour paid long-term care (LTC) for...
How to Account for Accretion
Whether it’s an individual investor or a business owner looking to increase their earning power, understanding how accretion works is essential for individual and business...
How to Account for Additional Paid-in-Capital (APIC)
According to the May 2019 Financial Stability Report from the Board of Governors of the Federal Reserve System, there was more than $15 billion in...
Seven Tax Moves to Make Before 2025 Ends – Year-End Tax Planning
Tax planning feels like homework nobody wants to do, but here's the reality: real money is sitting on the table. The One Big Beautiful Bill...
Controversial Defense Funding Bill, Shoring Up ESOP Plans, and Leave Benefits for Public Health Personnel
National Defense Authorization Act for Fiscal Year 2026 (S 2296) – Introduced by Sen. Roger Wicker (R-MS) on July 15, the Senate passed this legislation...
Why Authorization Sprawl Is the Next Big Security Blind Spot and How to Fix It
Despite major investments in cybersecurity, organizations continue to face breaches. Most security mechanisms implemented guard against threats such as password theft. However, there is a...
Get a Jump on Holiday Shopping: Key November Dates
For some of us, last-minute holiday shopping is just what we do. That said, it’s probably never fun, and two things invariably seem to happen:...
New Rules for Inherited Traditional IRA Distributions
The rules for IRAs inherited after 2020 changed when Congress passed the Secure Act in 2019. The new rules eliminated the opportunity for non-spousal beneficiaries...
Understanding The Q Ratio
When it comes to evaluating a business, there are many ways to perform a valuation. One way to do so is to use the Q...
Financing Via Off-Balance Sheet Options
When it comes to business needs, securing financing is a top priority, particularly when starting out or for ongoing needs such as making payroll or...
The Hidden Tax Trap Keeping America’s Housing Market Frozen
America's housing crisis has reached a breaking point. With median home prices soaring past $400,000, the National Association of Home Builders reports that 60 percent...
Enhancing Homebuyer Protections, Wildfire Risks, 911 Response and Domestic Manufacturing
Homebuyers Privacy Protection Act (HR 2808) – Introduced by Rep. John Rose (R-TN) on April 10, the House passed this bill on June 23, and...
The Silent Threat: How Simple Misconfigurations Are Fueling 2025 Worst Cyberattacks
As organizations invest heavily in next-gen firewalls, AI detection, and threat intelligence, grave cyberattacks have been reported as a result of overlooked misconfigurations. According to...
How to Save Money with the Half Rule
What if you could lower your grocery bill without giving up the things you love, fight inflation, and have some money left at the end...
Ideas for Small Business Succession Planning
It can be hard to build up your own business, but it can be harder to sell it for what it’s worth. In fact, only...
Understanding Contribution Margin After Marketing
Contribution margin after marketing (CMAM) measures how much money is generated per unit retailed after factoring in a company's variable costs, along with marketing costs.It's...
A Look at the Nonaccrual Experience Method
When it comes to running a business, having outstanding invoices that turn into uncollectible receivables or simply bad debt is a fact of life. The...
Initial Look at the New Tax Form Schedule 1-A: Four Key Deductions for 2025
The IRS has released draft Schedule 1-A, introducing four new temporary deductions within the One Big Beautiful Bill Act. If you are wondering what the...
Canceling Government Funding and Expanding Protections for Veterans
Rescissions Act of 2025 (HR 4) – A rescission bill cancels funding previously approved by Congress upon request by the president. Congress has 45 continuous...
Beyond the Hype: A Strategic Blueprint for AI Investment in 2025 and Beyond
Artificial intelligence (AI) is one of the most talked-about technologies today. It has taken a shift from the broad general-purpose tools to specialized innovations that...
5 Myths About Life Insurance
Life insurance is something most of us don’t want to talk about. But the truth is, no one gets out of life alive. So, it...
How to Evaluate Accounts Receivables
According to the Federal Reserve Bank of St. Louis, collection agencies saw $16.28 billion in revenue in 2019. While revenues have declined somewhat in recent...
Capitalizing Versus Expensing Research and Development
Based on statistics from the World Bank, the United States government spent 3.59 percent of its 2022 gross domestic product on research and development. While...
How to Reduce the Burden of IRA Required Minimum Distributions
Required minimum distributions (RMDs) from traditional IRAs and 401(k)s often become a significant tax burden during retirement. As the percentage of your IRA that must...
Cashless Charitable Contributions
Not everyone can make large charitable contributions. But there are ways to be charitable without spending your discretionary income while at the same time lowering...
The Big Beautiful Bill, Rolling Back Public Television and Radio, and Regulating the Cryptocurrency Industry
One Big Beautiful Bill Act (HR 1) – Introduced by Rep. Jody Arrington (R-TX) on May 20, this bill passed in the House on May...
How Businesses Can Build Disinformation Resilience
The digital landscape has rapidly advanced, fueled by generative AI and other transformative technologies. Although this has come with great opportunities, it has also introduced...
7 Remote Jobs That Provide Training
If you’ve ever longed for a remote job but weren’t sure how to make it happen, then take note. Not only are all these jobs...
Young Adults: Why Buy Life Insurance?
Young adults may not see much reason to purchase life insurance, especially if they have no dependents and/or a partner who makes plenty of money....
Understanding Depreciation Recapture
When it comes to businesses and asset depreciation, there are many types available, such as straight-line, units of production, double declining balance, and sum of...
How to Account for Debit Notes
With the global digital payments market expected to see north of $20 trillion in transaction value in 2025, according to Statista, business-to-business transactions are undoubtedly...
Restricted Stock Units: 5 Essential Tax and Financial Planning Strategies
Receiving restricted stock units (RSUs) may seem straightforward, but the tax and financial planning complexities can catch many employees off guard. Understanding these key strategies...
Preventing AI Deepfakes, Deterring Fentanyl and Foreign Aggression, and Strengthening Small Businesses
HALT Fentanyl Act (S 331) – On Jan. 30, Sen. Bill Cassidy (R-LA) introduced this bipartisan act in order to close a loophole that allowed...
Addressing the Digital Divide within the Workforce
The rapid pace of technological change, particularly the integration of artificial intelligence (AI) in daily workflows, is reshaping the global economy and the nature of...
6 Reasons for Mid-Year Tax Planning
Right smack dab in the middle of summer might seem like the worst time to think about your taxes, but it’s actually the perfect time....
Job Shopping: What’s New in Company Benefits
If you are in the market for a new job or are interested in extracting more value from your current one, consider some of the...
Examining Differences Between Liquidity And Solvency
Liquidity looks at how well a company can handle paying wages, inventory, and lending repayments via measuring its cash or quasi-cash levels. Put another way,...
Dissecting Working Capital
Working capital is the difference between a business' current assets and liabilities. Negative working capital can happen when a business' current assets are below its...
One Big Beautiful Bill Act: Part 2 – What the New Tax Law Means for Your Business
Part 2In this second part of our two-part series on the One Big Beautiful Bill Act (OBBBA), we examine the legislation's impact on businesses, trusts,...
One Big Beautiful Bill Act: Part 1 – What the New Tax Law Means for You
Part 1The One Big Beautiful Bill Act (OBBBA) passed the House on July 3 and was signed into law by President Trump. This comprehensive legislation...
Navigating Worker Classification: The Critical Difference Between Employees and Independent Contractors
Running a small business often means working with a mix of people: some full-time staff, part-time helpers, seasonal workers or project-based contractors. While this flexibility...
New Tax Cut & Spending Bill, Protecting Law Enforcement, VA Benefits and Semiconductor Supply Chains
One Big Beautiful Bill Act (HR 1) – Introduced by Rep. Jodey Arrington (R-TX) on May 20, this tax bill supports the president’s tax and...
Quantum Computing: Separating Hype from Real-World Business Value
Lately, there has been a lot of talk about quantum computing, drawing interest from many, including business leaders. Quantum computing promises to solve previously unsolvable...
How to Navigate Money Before Saying ‘I Do’
According to a Bankrate Financial Infidelity Survey, 28 percent of couples said they considered financial cheating as bad as physical cheating. Furthermore, money is one...
Responsibilities of Being the Executor of a Will
The appointed executor of a will is the person responsible for paying the debts and taxes of the will’s owner once he dies and then...
Understanding the Goodwill to Assets Ratio
The goodwill to assets ratio measures how much of a company's total assets come from goodwill – an intangible asset like brand value or customer...
Decoding Net Realizable Value (NRV)
Whether it's maintaining compliance with accounting standards or ensuring asset values are not overvalued for internal stakeholders or external existing or potential new investors, looking...
Why AI Falls Short for U.S. Tax Guidance
The rise of artificial intelligence tools like ChatGPT and Grok has transformed how Americans seek information. From meal planning to complex financial questions, these platforms...
Rolling Back Regulations, Proving Citizenship Birth for Voting Rights, and Blocking Nationwide Injunctions
Providing for congressional disapproval under chapter 8 of title 5, United States Code, of the rule submitted by the Department of Energy relating to “Energy...
Deepfake Detection in Voice and Video
Deepfakes are becoming more convincing than ever. Whether manipulated media or entirely generated by artificial intelligence (AI), deepfakes can now realistically alter faces and clone...
How New Grads Can Master Their Finances
College graduation is a huge milestone. You’ve completed one chapter and are on the precipice of the next. While exciting, it can also be daunting...
Financial Implications of Marriage
Marriage isn’t just about two people who fall in love and choose to spend the rest of their lives together. It is also a contract....
Cash Flow Available for Debt Service (CFADS)
When it comes to the risk of default, Moody's found that during COVID-19, American businesses had a 7.8 percent chance of defaulting. This is compared...
How to Account for Bad Debt Expense
Bad debt expense is an important concept that businesses must account for when it comes to their financial reporting. Regardless of the timeframe a company...
Strategic Roth IRA Conversions: Maximizing Retirement Income While Minimizing Taxes
For many high-income earners and those approaching retirement, a Roth IRA conversion represents a strategic financial move that can significantly impact long-term wealth preservation. This...
Building Deeper Customer Connections: Leveraging Web3 for Loyalty, Community, and Engagement
Competition in business today has become fierce. Each organization is constantly looking for innovative ways to form strong relationships with its customers. Loyalty programs have...
7 Ways to Teach Your Kids to Save
Of all the things you teach your kids when they’re young, saving money just might be one of the most important. Teaching them to delay...
Reasons to Consider Out-of-State Municipal Bonds
Municipal bonds (also known as munis) are issued by a state or local government. Interest income is typically paid out twice a year and is...
Valuation Ratio Calculating the EV / 2P
When it comes to analyzing a company’s financials, there are many avenues we can take. One way is through multiples; calculating the EV/2P multiple is...
Dissecting the Half-Year Convention for Depreciation
Depreciation can help a business realize tax benefits, maintain compliance with financial reporting requirements, and project asset replacement. The half-year convention for depreciation is an...
Treasury Declares New Beneficial Ownership Reporting Law Will Apply Only to Foreign Companies
The Trump Administration announced it will no longer apply the beneficial ownership information (BOI) requirements of the Corporate Transparency Act (CTA) to domestic companies. This...
Understanding IRS Forms 1099 for Lawsuit Settlements
The Basics of Tax Reporting in Legal SettlementsWhen you collect a settlement for a lawsuit, you'll likely also receive a Form 1099 from the IRS....
Preventing a Government Shut Down, Rolling Back Regulations and Clarifying Cryptocurrency Protocols
Full-Year Continuing Appropriations and Extensions Act, 2025 (HR 1968) – In the nick of time before the midnight deadline that would have otherwise shut down...
Protecting Critical Supply Chains, Recycling Programs and Victims of Digital Forgeries
Promoting Resilient Supply Chains Act of 2025 (S 257) – Introduced by Sen. Maria Cantwell (D-WA) on Jan. 2, this bill is designed to promote...
Copyright and AI-Generated Images and Videos:
What Businesses Need to Know to Stay LegalArtificial intelligence (AI) tools are reshaping content creation. It is now easier for businesses to produce images and...
6 Tax Filing Tips & Important Info for 2025
As Benjamin Franklin said, there’s only two certainties in life: death and taxes. With the former, you don’t have much control over; however, the latter...
What’s New in Identity Theft?
Identity theft is when someone steals your personal information and then uses it to commit fraud. They may access your Social Security or Medicare number,...
Defining Net Revenue Retention (NRR)
The subscription economy, according to Forbes, is expected to reach $1.5 trillion in revenue for businesses. With the potential likely realized this year, it's vital...
Understanding the Differences Between FCFF and NOPAT
When it comes to financial analysis, there are two metrics that internal stakeholders and external users, such as investors and analysts, can use to assist...
As Tax Season Opens, We Must Stay Alert to Rising Scam Threats
As tax filing season begins, scammers are ramping up efforts to steal taxpayers' personal information through increasingly sophisticated schemes. Below, we discuss the latest scam,...
Beefing Up Laws for Illegal Immigrants and Preparing for Future Disasters
Laken Riley Act (S 5) – A holdover from the last congressional session, this bill was re-introduced by Sen. Katie Britt (R-AL) on Jan. 6....
Why Your Business Needs a Vertical AI Agent: Top Benefits for Niche Markets
The rise of artificial intelligence (AI) is continuously transforming how businesses operate, offering opportunities for efficiency, innovation, and growth. However, in an increasingly competitive landscape,...
5 Tips on How to Track Monthly Expenses
Keeping tabs on what you spend isn’t hard. It just has to become a habit. But here’s the good news: Studies show that it only...
Rules of the Roth
With a Roth IRA, the owner can make limited contributions each year. In 2025, the limit is $7,000; $8,000 if age 50 or older. Only...
Analyzing Return on Ad Spending
Return on Ad Spend (ROAS) is one way to help advertising and marketing professionals and investors analyze how well promotions do (or don't) produce sales....
Dissecting Bookings and Annual Recurring Revenue
With the number of Amazon Prime member subscribers growing from 58 million in 2016 to 180 million in 2024, according to Statista, there's a sustained...
2025 U.S. Tax Legislation Forecast: What to Expect
As 2025 unfolds, U.S. tax policy is poised for significant shifts, particularly with a new Republican administration under President Donald Trump. The year ahead will...
National Security
Improving Federal Building Security Act of 2024 (S 3613) – The Federal Protective Service (FPS) contracts security guards to control access to government facilities and screen...
Securing Client Data: The Importance of Encrypted Apps
The Salt Typhoon cyberattack is among recent cyberattacks that reaffirm the urgent need for robust data security measures. This attack targeted major telecommunications providers, compromising...
7 Ways to Start 2025 with Fresh Finances
Here we are in yet another new year. The obligations and celebrations are over. Chances are, you’ve spent a fair amount over the holidays and...
Tips for Tax Season
Whether you file your income tax return early or at the last minute, there are ways to simplify the process and reduce what you owe...
Calculating the CAC Payback Period
The CAC Payback Period looks at how a business needs to recover its investment in attracting new customers. It is especially crucial for companies that...
How Reporting Might be Less Complex in 2025
A Dec. 3 proposal from FASB’s Accounting Standards Update (ASU) might provide some flexibility for private businesses and select nonprofits. “Financial Instruments – Credit Losses...
The Social Security Fairness Act of 2023: More Retirement Income for Teachers, Police, Firefighters & Gov. Workers
The Social Security Fairness Act of 2023, formally known as H.R. 82, aimed at ending two provisions in the Social Security system that affect public...
What is Innocent Spouse Relief?
The word “innocent” in innocent spouse relief can be misleading. It doesn’t imply you’re perfect or blameless – it’s more about whether you knew or...
Making Pensions Equitable, Protecting Foster Kids, Mail-in Votes and Tracking Government Spending
All bills not enacted by the end of the 118th congressional session on Jan. 3, 2025, will expire.Social Security Fairness Act of 2023 (HR 82) – This bill,...
Cybersecurity Best Practices for the Holiday Season
The holiday season is when most people go on shopping sprees and travel. This season also witnesses a surge in online activities in today's digital...
5 New Year’s Financial Resolutions You Can Actually Keep
Yep, it’s the end of another year! Chances are, you didn’t keep every resolution you made last year, for example, those goals about working out....
Common Business Accounting Calculations
No matter the type of business or industry, being able to analyze and deduce patterns is essential to discovering a business’ financial health. Here are...
Understanding Carbon Accounting
Also known as greenhouse gas (GHG) accounting, carbon accounting is a way for managers and analysts to measure a company's total carbon emissions. It's a comprehensive...
Energy Tax Credit Changes For 2025
The coming shakeup of the executive branch, along with Republican control of both houses of Congress, means tax changes are highly likely in 2025 and...
Tax Planning 2024
Personal Income Tax Planning Strategies for Year-End 2024As 2024 draws to a close, it’s the perfect time to review your personal income tax situation and...
Pre-Retirement Planning Guide – Finding Purpose In Life
Step 7: Find Your Raison d’EtreWhat do you consider to be your purpose in this world? Few people think about their life that way. In...
Protections for Election Candidates and the Electoral Process; Improving Programs for Veterans and American Indians
Enhanced Presidential Security Act of 2024 (HR 9106) – During an election year, the Department of Homeland Security identifies major presidential and vice-presidential candidates in...
Social Media Marketing: A Game-Changer for Business Growth
Social media has evolved from a simple networking platform to a powerful business tool. Businesses today use these platforms with billions of active users worldwide...
5 Tips to Keep End-of-Year Spending Under Control
It’s that time of year again. Halloween has just come and gone – and now we’re hurtling headlong into Thanksgiving and Christmas. For holiday shopping,...
Pre-Retirement Planning Guide – Legacy Planning
Step 6: Looking to Legacy Planning to Address Future Needs of FamilyHow do you want to be remembered? People often view their legacy as a...
Cash Conversion Cycle (CCC) Defined
This metric, which is also referred to as the cash cycle or the net operating cycle, looks at the time a business takes to recover...
Breaking Down Bill-and-Hold Arrangements
Looking at accounting and journal entry considerations, if accounts receivables are debited and revenue is credited, it can be interpreted as the business recognizing revenue...
2025 Federal Income Tax Brackets
According to estimates, inflation adjustments to the Internal Revenue Code are expected to yield increases of 2.8 percent compared to 2024 amounts. This means wider...
Keeping the Government Open, Stopping the Flow of Synthetic Drugs, and Improving Wireless Communications on Land and in Space
Continuing Appropriations and Extensions Act, 2025 (HR 9747) – This continuing resolution was introduced on Sept. 22 as a “clean” extenuation of the federal budget to...
Zero Trust Security Models: The New Standard Against Data Breaches?
As technology evolves, so have data breaches, which have become a significant threat to businesses of all sizes. We frequently hear reports of high-profile attacks...
6 Things To Know About Annuities
Annuities are one of many products that folks have in their nest egg. But first, what exactly is an annuity?Simply put, it’s a contract with...
Pre-Retirement Planning Guide Estate Plan
Step 5: Estate PlanThe value of an estate plan is twofold. Yes, you want to pass your assets on to heirs in a seamless and...
How to Measure the Quality of Accounts Receivable
Analyzing a company's Accounts Receivables is an effective way to measure its current cash flows and the likelihood of maintaining healthy cash flows. According to...
How to Account for Stranded Assets
With more than 14 million electric vehicle (EV) registrations in 2023 worldwide and 2023 seeing an increase in EV sales over 2022 by 35 percent,...
The New Era of “No Tax” Policies: Selective Tax Exemptions and Their Side Effects
Former President and current candidate Donald Trump introduced a new policy of his in a recent Arizona rally: No more income tax on overtime pay....
U.S. Flag Mandate, Combatting Deepfake Pornography and Legislative Priorities of the Vice President Nominees in 2024 Election
All American Flag Act (S 1973) – Introduced by Sen. Sherrod Brown (D-OH) on June 14, 2023, this bill requires that all U.S. flags used by...
From Likes to Leads: Converting Social Media Analytics into Business Opportunities
Social media has become a powerful tool for helping businesses reach their prospects and customers. By using social media, a business can connect with its...
7 Reasons You Need a Will
Drafting a will is not something that people, for the most part, want to think about. But no one gets out of life alive. So,...
Pre-Retirement Planning Guide Health Plan
Step 4: Putting Together a Health PlanPlanning for healthcare in retirement is a tricky business. Some hardcore smokers live past 100, while some hardcore exercise...
Looking at the Expanded Accounting Equation
Whether it’s a private equity transaction or an institutional or retail investor, analyzing a company’s financial statements is an important part of fundamental analysis. One...
Accounting for Convertible Debt Instruments
According to EY, the convertible debt market saw whipsaw action in issuances. Between 2015 and 2019, average issuance varied between $40 billion and $45 billion....
Important Update on New Company Reporting Laws CTA – BOI
On Jan. 1, 2024, the U.S. government debuted the Corporate Transparency Act (CTA). This legislation established the requirement for the majority of private companies, both...
Clean Energy, Curing Parkinson’s, Prison Oversight and Impeaching Supreme Court Justices
Accelerating Deployment of Versatile, Advanced Nuclear for Clean Energy (S 111) – This bill was introduced by Sen. Shelly Moore Capito (R-WV) on March 30,...
The Future of Backlinks: Incorporating Artificial Intelligence in Link Building
Backlinks are the direct result of successful link-building efforts. The quality and quantity of backlinks a website receives are influenced by the effectiveness of its...
School Choices that Lead to Financial Independence
For many parents and kids, living independently after college or trade school has been a challenge – a big one, thanks to rising inflation, student...
Pre-Retirement Planning Guide Financial Plan
Step 3: Develop a Financial PlanWe all have a different vision for our golden years – and we are also on individual financial tracks to...
Accounting Considerations for Capital Expenditures and Operating Expenses
When it comes to running a business, there are a lot of expenses incurred during operations. As of January 2024, New York University’s Stern School...
How to Report for Comprehensive Income
Comprehensive income (CI), which is defined as the sum of net income (NI) and other comprehensive income (OCI), gives both the internal and external audiences...
Are You Ready for Major Tax Changes in 2026?
The enactment of the Tax Cuts and Jobs Act (TCJA) in 2017 brought with it major changes to the tax code on both personal and...
Supporting Tibet, Exposing Hidden Fees and Protecting Judges Amid Rising Threats
Promoting a Resolution to the Tibet-China Dispute Act (S 138) – This bill was introduced by Sen. Jeff Merkley (D-OR) on Jan. 30, 2023. It...
Must-Know Backlinks for Boosting Your SEO
Backlinks are a crucial part of search engine optimization (SEO) strategies. They act as votes of confidence from one site to another and signal to...
Summer Reading List for Personal Finances
Since it’s summer and reading lists are at the top of your mind, now’s the perfect time to expand your knowledge of money management and...
Pre-Retirement Planning Guide Younger Adults
Step 2: Clarify GoalsYou’re never too young to start a bucket list. That’s because some things (such as bungee jumping) you probably want to knock...
Accounting Considerations for Business Insurance Coverages
With more than eight million small businesses in America, and more than $776 billion in net premiums issued by the insurance industry in 2022 for...
The Differences Between Conclusion of Value and Calculation of Value
When a business is looking for a valuation, it needs to decide whether to use the calculation of value approach versus the conclusion of value...
So, You’ve Been Audited: Should You Go It Alone or Hire a CPA, EA or Tax Professional?
I sincerely hope you have never had to go through an IRS audit – and never have to in the future. But what if that...
Funding for Federal Aviation, Reinforcing Supply Chains, and Deterring Iranian Terror Attacks Around the World
FAA Reauthorization Act of 2024 (HR 3935) – This bipartisan bill reauthorizes funding and direction for the Federal Aviation Administration (FAA) and the National Transportation...
The Role of Data Analytics and Visualization in Modern Auditing
Modern businesses have become complex mainly due to the exponential growth of data, and traditional auditing methods can no longer keep pace. To cope with...
6 Financial Tips for New Dads
There are probably few things as exciting and daunting as becoming a new dad, especially when it comes to finances. But we’ve got you! Here...
Pre-Retirement Planning Guide Budget
Step 1: Develop a BudgetOnce you are truly good and retired – no phase-out, no gig jobs, no income-earning hobbies – most people end up...
How to Develop a Credit Policy
A credit policy explains how a company will manage lines of credit for client accounts and what procedures to follow for severely outstanding invoices. It...
Liquidation Value Versus Going-Concern Value
Whether it's a company firing on all cylinders or a company on the verge of liquidation, determining correct valuations is not a cut-and-dry process. Understanding...
Marrying a Non-U.S. Citizen? No Tax Honeymoon for You
Marriage is a major life event. One that comes with all kinds of change, including financial. After getting married, there is so much to consider,...
Funding Foreign Military and Humanitarian Aid, Setting up a Tik Tok Ban, and Re-Authorizing Foreign Surveillance on U.S. Soil
Ukraine Security Supplemental Appropriations Act, 2024 (HR 8035) – Introduced on April 17, this bill authorizes $60 billion to provide military aid to support Ukraine...
Factors to Consider when Choosing Customer Relationship Management Tools
Customer relationship management (CRM) plays an important role in documenting, tracking, and managing relationships and interactions with existing and potential customers. It allows businesses to...
6 Ways to Use Your Tax Refund
Gosh, it feels great to get that tax refund. Dreams of a much-needed vacation or a splurge on something you’ve been craving might be running...
Part 2: Pre-Retirement Planning Guide
There are many steps to planning for retirement. Some are legal and financial, some are about communication, and some involve introspection – thinking about your...
How to Calculate Operating Return on Assets
During Q3 of 2023, businesses in the United States made approximately $3.3 trillion, according to Statista. This is right behind the third quarter of 2022,...
Working Capital and the Role it Plays in Your Business’ Success
The accounting term working capital is essential knowledge for all business owners. Basically, it is the ability of a business to meet its ongoing obligations....
‘Master’ The Augusta Rule and Save Money on Your Taxes
Anyone who lives in a highly seasonal tourist destination knows you can make money on short-term rentals during events and festivities in your city or...
Funding the Government, Protecting Americans from Misuse of Data, Expanding Internet Access and Improving Recycling
Consolidated Appropriations Act, 2024 (HR 4366) – On March 9, the president signed the latest appropriations bill passed in time to halt a government shutdown....
Importance of Fostering Digital Trust in Today’s Businesses
Modern business today is dominated by digital transactions and interactions. Businesses are increasingly storing customers’ personal information, which is potentially accessible without the customers’ knowledge...
April is Financial Literacy Month: How Much Do You Know?
What started as Youth Financial Literacy Day some years ago is now a monthlong event: Financial Literacy Month. It all started in 2003 when some...
Part 1: Pre-Retirement Planning Guide
One of the more insightful quotes of baseball great Yogi Berra was, “If you don’t know where you’re going, you’ll end up someplace else.”When you’re...
Defining Burn Rate, Gross Burn and Net Burn
When it comes to any business, but especially for a start-up, it’s essential to determine how long a company can survive before it must declare...
Taking a Closer Look at Trial Balances
A trial balance is an accounting tool that helps businesses determine if the double entry accounting system has any mathematical errors. Once the trial balance...
Reduce Your Taxes by Putting the Right Assets in Your IRA
Most people know the basic concept that certain types of investment accounts are tax sheltered while others are not. Think 401(k), 403(b), IRA and Roth...
Debating U.S. Border Policies and Foreign Aid, Providing Tax Relief Before Tax Season, and Training More Nurses
The Emergency National Security Supplemental Appropriations Act (HR 815) – Formerly known as the RELIEVE Act, this bill was originally written to improve veteran eligibility...
Deepfakes and Social Engineering: The New Face of CEO and CFO Fraud
Technological advancements have ushered in a new era of cybercrime, with deepfakes and social engineering tactics at the forefront of fraudulent activities. CEO and CFO...
March Financial To-Do List
Ready or not, spring is right around the corner, and it’s the perfect time to get in fiscal shape for the rest of the year....
What to Know About the Art Donation Deduction
If you would like to donate artwork to an eligible charitable organization, you might be able to take a deduction on your tax return. However,...
Actions Lottery Winners Should Consider
We all have those days when we dream of striking it rich with a winning lottery ticket. Never having to work again while living a...
Contingent Liability Defined
As the name implies, a contingent liability for a business does not always happen and depends on how the future unfolds. When it comes to...
U.S. Beneficial Ownership Information Reporting Begins
The U.S. Treasury recently enacted a new reporting requirement aimed at quashing illicit financial transactions. The agency believes that corporate anonymity is enabling money laundering,...
Averting a Government Shutdown, and Reinforcing Air Travel Infrastructure, Weather Alert Systems and National Defense Initiatives
Making further continuing appropriations for the fiscal year ending Sept. 30, 2024, and for other purposes (HR 2872) – Passed by both branches and signed...
New Email Deliverability Rules: Reaching Gmail and Yahoo Subscribers in 2024
Email marketing remains the most powerful and effective tool, especially for its high ROI, reach, and engagement. It plays a significant role in business growth....
Municipal Bond Outlook for 2024
One of the positive aspects of sustained high-interest rates is higher yields on bonds, particularly high-quality municipal bonds. It is possible that 2024 will present...
Your February Financial To-Do List
January has come and gone. You may or may not have stuck to your resolutions, but the good news is that February is here. Now...
Understanding How Variances Vary
Variance analysis is found by determining the difference between what was budgeted and what actually occurred. Additionally, when variances are added together, we get a...
Optimizing Your Business’ Performance with Capacity Management
When it comes to business operations and measuring performance, the optimal production scale a company can sustain is an important metric to measure. If a...
How to be Your Tax Pro’s Favorite Client this Tax Season
Why on earth, you may ask yourself, would I care about being a good client to my tax prep professional? I mean, you are a...
Relaxing Small Business Accountability and Supporting Veteran Homelessness and Substance Abuse Disorders
A joint resolution providing for Congressional disapproval under Chapter 8 of Title 5, United States Code, of the rule submitted by the Bureau of Consumer...
Technology Trends for Businesses to Watch in 2024
The unrelenting advancement of technology is still going strong even as we enter 2024. The business landscape is poised for transformative changes, driven by ongoing...
Considerations For Paying Off a Mortgage Early
For many, buying a home is the biggest asset they will ever own. However, you aren’t able to fully benefit from that asset until you...
How a No-Spend January Can Kickstart Your New Year
Here we go again. The new year is approaching, and those resolutions are staring us in the face – and the most common? Saving money....
Documenting Fiduciary Accounting Practices
Fiduciary accounting, which is also referred to as court accounting, is a way to document and report financial activity during a discrete period of time...
Defining Materiality in Accounting
In the world of accounting and auditing, there is a concept called materiality. The term materiality essentially means an amount that, if erroneously omitted or...
IRS Plans to Shake Up Leadership
The top leadership in the IRS is set to change. IRS Commissioner Daniel Werfel believes the changes are needed for the agency to meet its...
Expanding Benefits for Veterans and Extending Government Funding Until Jan. 19, 2024
A bill to amend Title 38, United States Code, to extend and modify certain authorities and requirements relating to the Department of Veterans Affairs, and...
Impact of Digital Currency on Businesses’ Accounting
The emergence of digital currency is reshaping how businesses operate and account for financial transactions. As accounting professionals navigate this transformative wave, understanding the profound...
How to Manage Taxes in Retirement
The biggest difference between managing taxes throughout your career versus during retirement is that when you are retired, you are responsible for calculating how much...
4 Smart Ways to Maximize Your IRA Contributions
Unless you’re near retirement, chances are you’re depositing a certain amount of cash each year in your IRA at tax time, then kind of forgetting...
Wage Garnishment Considerations for Business Owners
According to the United States Department of Labor's Consumer Credit Protection Act (CCPA), wage garnishments are a complex legal process for employers to account for...
The 2023 Tax Planning Guide
It's that time of year again: time for year-end tax planning. With the end of 2023 coming fast, the time to act is now. In...
Banning Weapons Training in Public Schools, Funding Assistance for Ukraine, and Various Appropriations Bills for Fiscal Year 2024
Protecting Hunting Heritage and Education Act (HR 5110) – This bill was introduced in the House on Aug. 1 by Rep. Mark E. Green (R-TN)....
Super Apps and Their Impact on Traditional Business Models
As technology advances, users crave convenient and feature-rich solutions. In mobile app development, the concept of super apps is taking the tech world by storm....
2024 Cost of Living Adjustments
In one year’s time, the U.S. inflation rate dropped by more than half, from 8.2 percent in September 2022 to 3.7 percent in September of...
7 Smart Saving Strategies for Retirement
Next year, something called Peak 65 is happening. This moniker refers to the fact that more Americans will reach the traditional retirement age of 65...
Two Ways to Measure Revenue Per User
When it comes to measuring revenue, it’s essential that businesses analyze it from a variety of perspectives. While there's revenue and net income on an...
New Business Travel Per Diem Rates Announced for 2023-2024
New per diem rates were recently announced by the IRS and are effective for per diem allowances on or after Oct. 1, 2023. These updated...
Sanctioning Terrorist Activities by Iran, Accelerating Disaster Assistance and Expanding Healthcare Opportunities for Native Americans
MAHSA Act (HR 589) – The Mahsa Amini Human Rights and Security Accountability (MAHSA) Act is a bipartisan bill that was introduced on Jan. 27...
Securing Your Identity: The Role of Decentralized Identity Systems in Data Breach Prevention
Data breaches have been on the rise as cybercriminals keep coming up with new ways to steal user-sensitive information. Just in the second quarter of...
Work and Social Security Benefits
You can work and still receive Social Security benefits, but how much you receive depends on a number of factors.First, if you do plan to...
How to Organize Your Tax Documents
Since tax time isn’t until next April, organizing your documents right about now might not be top of mind or even something you want to...
Common Financial Reporting Mistakes and How to Correct Them
With accounting fraud and financial reporting mistakes creating a lack of confidence, understanding how financial reporting mistakes occur and are detected is an important topic....
IRS Plans to Use AI and Ramp Up Enforcement on Millionaires, Partnerships and Crypto
Recently, IRS Commissioner Danny Werfel spoke of changes within the IRS, announcing several initiatives focusing on high-income earners and partnerships, as well as integrating the...
Monitoring Trade Agreements with Taiwan, Promoting Plain-Language Rules, and Expanding Recruiting and Training for Law Enforcement
United States-Taiwan Initiative on 21st-Century Trade First Agreement Implementation Act (HR 4004) – This bipartisan bill was introduced on June 12 by Rep. Jason Smith...
How Businesses Can Leverage Data and Personalization for Targeted Campaigns and Growth
Marketing efforts today depend on collecting, analyzing, and leveraging data to make informed decisions. Therefore, business owners need to understand how to harness the power...
Widow/er Social Security Benefits
A widow or widower is eligible for a survivor's benefit from Social Security even if they never worked – as long as the deceased spouse...
How to Write an Awesome Accounting Bio
Even though numbers are probably the biggest thing in an accountant’s wheelhouse, getting people in the door with the right words in your bio can...
How to Identify and Avoid Cash Flow Pitfalls
Looking at expenses for one's business is essential to reduce cash flow issues. For example, it would show if there's too much money leaving the...
2021 Vs 2022 Vs 2023 Federal Income Tax Brackets
The US tax system is progressive, meaning that the more you earn the more you pay. For the years 2021-2023 there are seven different brackets...
IRS Announces End of Unannounced Taxpayer Visits (Mostly)
You wake up in the middle of the night. Heart racing, drenched in sweat, and breathing heavily. Thankfully, it was just a nightmare when the...
Compensating Service Members and Establishing Rules and Procedures for Ethical Matters
CADETS Act (S 467) – This bipartisan bill was introduced on Feb. 16 by Sen. Gary Peters (D-MI). The purpose of this bipartisan bill is...
Insider Threats: Identifying, Mitigating and Preventing Internal Security Risks in Organizations
One of the most devious and often underestimated dangers in cybersecurity comes from within an organization. These dangers originate from individuals within the organization who...
The Ins and Outs of a Reverse Stock Split
When a company decides to conduct a reverse stock split, also referred to as a stock consolidation, the number of shares available to investors is...
7 Best Money Moves for 2023
In light of our current economy, making sure your money works hard for you is one of the best things to do this year. Here...
How to Reduce Common Payroll Errors
According to the Internal Revenue Service (IRS) and the National Federation of Independent Businesses (NFIB), almost one-third of companies see penalties due to payroll issues....
2023 Sales Tax Holidays for Back-to-School Shopping
Now that we are heading into the backend of summer, it’s time for many states to host their annual sales tax holidays for returning to-school...
Raising the Debt Ceiling, Protecting Air Travel and Repealing the Iraq AUMF
Fiscal Responsibility Act of 2023 (HR 3746) – This Act represents a compromise reached by House Republicans and President Biden. Republicans negotiated concessions in exchange...
What Actions Can Data-Breach Victims Take?
Over the years, millions of individuals have been affected by data breaches, where their sensitive data is accessed by unauthorized cybercriminals or publicly exposed. A...
New Personal Finance Provisions in the 2.0 Secure Act
The Continuing Appropriations Act, enacted at the end of 2022, included several provisions that impact retirement plans going forward. Specifically, the legislation enacts SECURE 2.0,...
6 Ways to Travel on a Budget
The thrill of summer travel is always invigorating, but the prices to get there can be a real bummer. But not to fear. We’re here...
How Businesses Can Identify and Increase Efficiency with Managerial Accounting
Managerial accounting is a form of internal reporting that helps business owners and others involved in the organization’s decision-making. It looks at individual processes and...
Increased Tax Bills Hitting Private Companies Big and Small
Private companies, both large and small, are feeling the tax pinch due to changes in the law. With rampant inflation, labor shortages, lingering supply chain...
Increasing the Federal Debt Limit, Improving Disaster Resources and Attempting to Reduce Government Waste
Limit, Save, Grow Act of 2023 (HR 2811) – This bill was introduced in the House by Rep. Jodey Arrington (R-TX) on April 26. It...
Upholding Human Agency in an Era of Evolving Digital Systems
Technology has greatly contributed to improving and streamlining everyday life. However, as technology advances, there is an increased reliance on digital tools powered by artificial...
How To Recession-Proof Your Portfolio (Just in Case)
Some economists and market analysts have been predicting a U.S. recession ever since last fall. They’ve been wrong before – but they’ve also been right....
7 Tips to Save Money This Summer
Summer is here, and so are all the activities. But as we know, these activities cost money. Here are a few ways you can still...
Delving Into Forensic Accounting
According to a 2022 Allied Market Research report, the size of the global forensic accounting market is forecast to increase in value to $11.68 billion...
End of Covid Emergency Declarations Put Work from Home Benefits at Risk
The end of the federal emergency declaration for Covid-19 came on May 11. As a result, there are various public health policy changes. For example,...
Shoring Up Services for Veterans, Energy Production and Cybersecurity Risks
Relating to a national emergency declared by the President on March 13, 2020 (HJ Res 7) – On March 13, 2020, then-President Trump declared a...
What Is Web 3.0? Understanding The Next Generation of the Internet
The internet keeps evolving. It started with static web pages in Web 1.0 before evolving to interactive and dynamic content in Web 2.0. A new...
Estate Taxes vs. Inheritance Taxes: Understanding the Differences
Estate and inheritance (“death”) taxes are levied on the transfer of property at death. The difference between an estate tax and an inheritance tax is...
Financial Tasks to Tackle in the Month of May
Now that spring is here, it might be a great time to give your finances a fresh look. Here are a few key items to...
Defining and Understanding Reproduction Costs
When it comes to businesses looking to mitigate risk, one concept that's important to explore is reproduction costs. The first step is to distinguish between...
I Needed to Repay Part of My Compensation; Will I Get a Refund on My Taxes?
So, you filed and paid all your taxes on the money you earned in 2021. Now, the company you work for finds itself in trouble,...
Transparency for the Coronavirus, Federal Settlements, Smart Appliances and Public Education
COVID-19 Origin Act of 2023 (S 619) – This bill would authorize the Office of the Director of National Intelligence (ODNI) to declassify all information...
The Importance of Global Collaboration in Regulating Emerging Technologies
Emerging technologies, such as artificial intelligence, machine learning, data analytics, and biotechnology, greatly transform society and reshape the global economy. However, these technologies also come...
Mega Backdoor Roth IRA
The Roth IRA is a retirement savings account in which you invest only after-tax dollars. Subsequently, all earnings grow tax-free and may be withdrawn tax-free....
6 Tax Tips for 2023
It’s that time of year again: tax time. And while many of your money-saving options might be limited after Dec. 31, you can still do...
Different Ways to Value a Business
When it comes to valuing a business, there are many ways to examine a company’s profitability. Looking at a business' liquidation value and its breakup...
How Volunteering Can Earn You a Big Tax Deduction
Most people volunteer out of a sense of altruism, duty or purpose – not to get a tax deduction from Uncle Sam. At the same...
Increasing Small Business Investments, Relaxing COVID Vaccination Requirements and Generating More Challenges to Abortion Access
Investing in Main Street Act of 2023 (HR 400) – Introduced by Rep. Judy Chu (D-CA) on Jan.20, this bill would permit certain financial institutions...
Leveraging the Internet of Behavior (IoB) to Boost Customer Loyalty
Customer loyalty is critical to any successful business strategy in today's digital age. With emerging technologies such as the internet of things (IoT), companies are...
Multigenerational College Planning with a Family Dynasty 529 Plan
The College Savings 529 plan offers a way for modest-income families to save and invest for college expenses for their children as early as birth...
7 Steps to Start a Business
The idea of starting your own business is inherently romantic, if not exhilarating: You get to run the show, flesh out your ideas and live...
How Secure 2.0 Will Impact Employers’ Tax Situations
The Setting Every Community Up for Retirement Enhancement 2.0 Act of 2022, otherwise known as SECURE 2.0, is a piece of legislation that focuses on...
Sold Your Home Last Year or Plan to in 2023? If So, Here’s What You Need to Know
The U.S. housing market has been extremely volatile over the past year. Year-over-year growth rates were at highs of 20.1 percent in April 2022, then...
Overhauling the National Tax System, Eliminating Oil Sales to China, and Criminalizing Late Abortion Attempts
To rescind certain balances made available to the Internal Revenue Service (HR 23) – Introduced by Rep. Adrian Smith (R-NE) on Jan. 9, this bill...
How To Use Natural Language Processing To Improve The Efficiency Of Accounting Processes
Natural language processing (NLP) is a technology that allows computers to understand and process human language. Processing of natural language is necessary when you want...
401(k) Options After You Leave an Employer
Apart from the spike in inflation, 2023 ended the year with a relatively strong economy, boasting an unemployment rate of 3.5 percent (below the market...
Why You Might Not Need a New Budget for the New Year
So, we’re a month into 2023, and the sheen might’ve dulled from all your shiny New Year’s resolutions. Though diet and exercise are the top...
Defining an Impaired Asset
When it comes to defining an impaired asset, its fair market value is worth less than the original cost of the asset – or, more...
Key Deadlines and Changes for the 2023 Tax Season
Every year, typically right after the new year starts, the IRS formally announces key dates and deadlines for the current tax season. Recently, the IRS...
Expanding Options for Marriage, Defense, Medical Marijuana, Amateur Athletes and Rail Workers
Respect for Marriage Act (HR 8404) – Introduced by Sen. Jerry Nadler (D-NY) on July 18, this Act replaces previous provisions that defined marriage as...
Handling Talent Shortages in Tech Departments
Technology advancement has brought about great digital transformation. Unfortunately, this has come with a global tech talent shortage. IT executives highlight the shortage as a...
No-Heir Estate Planning
Even if you have no heirs, you should have an estate plan. Otherwise, the state will determine the fate of your worldly possessions. In fact,...
5 Financial Resolutions You Can Live With
For the most part, New Year’s resolutions are hard to keep because many times you either list too many things or ones that aren’t manageable...
Understanding the Weighted Average Cost (WAC) Method for Inventory Valuation
When it comes to businesses and their inventory and accounting methods for managing it, there are a few different ways to approach the task. The...
The IRS Versus the Taxpayer
According to the IRS, ignorance of tax rules and regulations is no excuse. Therefore, it’s essential to use an experienced tax preparer to assist in filing your...
Improving Federal Hiring Processes, Foreign Election Influence and Natural Disaster Protections
Disaster Resiliency Planning Act (S 3510) – Introduced by Sen. Gary Peters (D-MI) on Jan. 13,this Act details guidelines for federal agencies to incorporate natural...
What is Datafication, and Should Business Leaders Take Notice?
Data has become a primary asset for businesses today. Consequently, the survival of a business in our data-driven environment is highly dependent on the ability...
Retirement Tax Planning For 2023
Although you might get busy with the holiday season, don’t forget to consider ways to strengthen tax efficiencies for 2023 and beyond.2023 Retirement Contribution IncreasesSet...
Your Year-End Financial Checklist
Believe it or not, the year is coming to a close. If you want to finish strong and set attainable goals for 2023, here’s a...
Defining and Calculating Amortization
When there's a question of the benefit that tangible or intangible assets provide businesses, there are many factors that must be weighed to make internal...
The 2022 Tax Guide
Now is the time of year to do everything you can to minimize taxes and maximize your financial health with proper year-end planning. In this...
Saving Animals, Enhancing Government Efficiency, and Supporting Global Food Security
Planning for Animal Wellness Act /PAW Act (S 4205) – Introduced by Sen. Gary Peters (D-MI) on May 12, this act instructs the Federal Emergency...
Quantum Computing Uses That Solve Business Problems
Early technology adopters are more likely to gain better business results, including higher revenue growth and market position. With businesses facing complex problems every day,...
Do You Have an Investment Exit Strategy?
Are you a trader or an investor? The difference is frequently discerned by how closely you monitor the stock market and how quickly you move...
How to Write Great Happy Holiday Emails
There’s no better time than the holidays to show your employees and your clients how much you appreciate them. Here are five simple steps to...
Auditing: What it is & Why It’s Done
The Importance of AuditingAuditing typically refers to an objective review of a company’s financial statements, which consists of the cash flow statement, the income statement...
Tax Planning Guide for Disaster Area Victims
The recent hurricane Ian impacted much of the southeast United States. As a result, it is good to know the general tax rules related to...
Shoring up Protections for Sexually Abused Children, the Mentally Ill in Crises, and a Benefit Increase for Disabled Veterans
Eliminating Limits to Justice for Child Sex Abuse Victims Act of 2022 (S 3103) – Introduced by Sen. Richard Durbin (D-IL) on Oct. 28, 2021,...
Increase In Deepfake Attacks and How Enterprises Can Prepare
Deepfake technology utilizes machine learning and artificial intelligence (AI) to manipulate or create synthetic audio, video and images that appear authentic. Deepfakes are commonly featured...
Recent Trends in Long Term Care Insurance
Long term care (LTC) is associated with the elderly for good reason. Over the past 50 years, life expectancy has increased significantly and is therefore...
How to Host Awesome Holiday Office Parties
Fall is here and so are many of the holidays we love. Whether it’s Halloween, Thanksgiving or December holidays, here are some fail-safe things you...
Financial Accounting Overview
Financial accounting is how accounting professionals document, compile and outline how a business performs financially over a discrete period of time. Unlike cost accounting, which...
How to Increase After-Tax Returns on Investments
It is all about how much you keep after taxes – not what you earn from your job, a business, or investments. While it is...
Productive Month Passing Domestic Manufacturing and Prescription Drug Allowances, Climate and Gun Violence Mitigation, and Veteran Burn Pit Healthcare Legislation
Inflation Reduction Act of 2022 (HR 5376) – This legislation was originally introduced as the Build Back Better Act, President Biden’s signature bill of 2021....
Risk of Browser Extensions and How to Stay Safe
Web browsers such as Google Chrome, Firefox, Safari and Edge, among others, play an essential role in enabling access to websites on the internet. Most...
Should You Upgrade Your Homeowners Insurance?
During the first year of the pandemic, many homeowners spent their down time upgrading their homes. The year 2020 alone experienced at 3 percent uptick...
Top Side Hustles
In our current economy, or anytime actually, it can’t hurt to have a side hustle to bring in extra cash. Some of these options can...
How Cost Accounting Helps Businesses Measure Performance
Cost accounting is a type of accounting that analyzes a business' complete production costs by looking at both variable and fixed costs. This includes the...
Electric Vehicle Tax Credits and the Future of the Automotive Industry
One highlight of the recently passed Inflation Reduction Act of 2022 (IRA; HR 5376) includes modifications to what is more commonly referred to as EV...
Strengthening the Supply Chain, the Professional Workforce, Cybersecurity and Coastal Ecosystems
Supply Chain Security Training Act of 2021 (S 2201) – This legislation is designed to identify supply chain risks and develop a government program to...
What Are NFTs and How Can Businesses Benefit?
Non-fungible tokens (NFTs) are rising in demand, and some brands are already generating great results in their campaigns and providing a unique experience to customers....
Stock Splits, Explained
Imagine selling slices of a large pizza. You can cut it into four even slices and charge $2 a slice. Or, you can cut it...
8 Ways to Save on School Supplies
Even though summer is still somewhat in full swing, school will be starting soon. Yes, you heard that right. This means that you probably need...
How Businesses Can Mitigate Inflation & Maintain Pricing Power
Whether it's tariffs, trade wars, or post-pandemic inflation caused by kink-ridden supply chains and what many experts believe to be excess money printing, inflation is...
Expanding the Net Investment Income Tax
Despite borrowing massive amounts of money, the government still needs to find ways to raise revenue to pay for new programs and spending. The current...
Protecting SCOTUS, Veterans in Special Circumstances, Disaster Victims, Potential Firearm Victims, and America’s Water Resources
Supreme Court Police Parity Act of 2022 (S 4160) – In response to potential threats and protests outside the homes of Supreme Court judges following...
Big Data Storage: What You Need to Know
Today, businesses have to grapple with vast amounts of data from different sources, including emails, mailing lists, customer orders, system logs, mobile apps, social media...
Building Wealth Through Home Equity
Often the first house a person buys is an affordable condominium, townhouse or older single-family dwelling, also referred to as a “starter home.” It might...
How to Drive and Get the Best Fuel Efficiency
We’re all feeling the pain at the pump. Unless you decide to walk, bike or take public transportation, you might feel stuck. But all is...
Measuring the Margins
Corporate profits, according to the Bureau of Economic Analysis, grew by $20.4 billion in the final quarter of 2021, a 0.7 percent increase. For the...
The IRS is Auditing Fewer Returns than Ever
One of the perennial fears of taxpayers is getting audited by the IRS. Financially, few scenarios strike such fear into the heart of taxpayers. However,...
Rushing Baby Formula supplies, Helping Ukraine and Punishing Russia
To amend the Child Nutrition Act of 1966 to establish waiver authority to address certain emergencies, disasters and supply chain disruptions, and for other purposes....
Ways Technology Can Improve Business Cash Flow
Cash flow awareness is vital in running the day-to-day activities of a business. Keeping track of the inflows and outflows helps a company make better...
How Social Security Benefits Are Affected by Earned Income
Thanks to the Great Resignation trend over the past year, there is a high availability of jobs. Therefore, now is a good time for retirees...
Tips to Save on A/C This Summer
You love summer, don’t you? School’s out, and BBQs are on. But what you probably don’t love are those higher air conditioning bills. Here are...
How to Calculate the Cash Conversion Cycle
The Cash Conversion Cycle, also known as the Net Operating Cycle, answers the question, “How many days does it take a company to pay for...
Tax Break for Commercial Real Estate Investors
COVID-19 impacted the economy dramatically and commercial real estate was no exception in terms of decreased values. Often, the real property could no longer service...
Restricting Trade Relations with Russia, Enhancing U.S. Export Pathways, and Bearing Down on Cybercrime and Human Trafficking
Suspending Normal Trade Relations with Russia and Belarus Act (HR 7108) – This legislation suspends normal trade relations with Russia and Belarus. The president may...
Why Businesses Should Be Worried About Mobile Security and How to Keep Safe
Cybersecurity has become more important than ever, especially with the rise in cyberattacks. However, much focus is put on computers, laptops, servers, etc. Mobile phones...
New Required Minimum Distribution Rules for 2022
Starting in 2020, new legislation increased the age to begin Required Minimum Distributions (RMDs) from 70½ to 72. More recently, the IRS updated the Uniform...
How to Save When You’re Broke
If you think saving money is a waste of time, think again. It all comes down to having the right mindset and strategy – even...
Combating Employee Hesitancy to Return to the Office
According to the January 2022 Future Forum Pulse survey, there’s been a shift in what workers want post-pandemic. The report found that in Q4 of...
Secure 2.0 Retirement Bill
At the very end of March, the House of Representatives passed a version of the bill known as Secure 2.0. The bill passed the House...
Banning Masks, Banning Russian Oil, Making Lynching a Federal Hate Crime and Saving Sunshine
Consolidated Appropriations Act, 2022 (HR 2471) – This legislation will fund the federal government through September 2022, but also includes a plethora of other bills...
The Rise in Ransomware Attacks and How to Keep Safe
Cybersecurity experts estimate that there is a ransomware attack every 11 seconds. This makes it a challenge to individuals, businesses, and even governments.In ransomware attacks,...
Give a College Savings 529 Plan For Graduation
If you really want to make impact in your new grad’s life, make an investment in his or her future with a 529 College Savings...
The 50/30/20 Budgeting Rule Explained
You may or may not have heard of the 50/30/20 budgeting rule, but it’s a good one – one that will help make organizing your...
Considerations When Selling a Business
According to the U.S. Small Business Administration and Project Equality, 60 percent of business owners plan to cash out of the business in the next...
What Every Taxpayer Needs to Know This Season
The IRS is currently suffering a severe backlog in processing returns from 2021 for the 2020 tax year. As of Dec. 31, there were still...
Relief for USPS Financial Requirements, Plus Support for Victims of Sexual Harassment and Online Child Exploitation
Amache National Historic Site Act (HR 2497) – This Act was introduced by Rep. Joe Negusa (D-CO) on April 24, 2021. The bill authorizes the...
What Does the Metaverse Mean for Businesses
Metaverse has become a buzzword with much debate on its potential implications once it is fully realized. As far as businesses are concerned, the metaverse...
How To Maximize the Potential of Your 401(k) Plan
One of the easiest ways to save for retirement is to participate in an employer-sponsored retirement plan. You simply select a percentage of your paycheck...
How to Manage Your Aging Parents’ Finances
Taking over your aging parents’ finances is not easy. But it’s something that can be handled in an organized, compassionate way. Here’s a roadmap that...
How Businesses Can Stay Current with the Digital Economy
According to the U.S. Chamber of Commerce, the level of usage and data swirling around the internet is expanding at an accelerating pace. The amount...
Taxation of Legal Settlements and Fees
The taxation of legal settlements and fees is a complex topic. While the mechanics to make a proper claim are now easier, the rules are...
Pursuing Voting Rights, Critical Therapies, VA Online Education Benefits and Condemning Forced Labor
Freedom to Vote: John R. Lewis Act(HR 5746) – This act is comprised of two previous bills that were combined and passed in the House...
Importance of Cloud Accounting Certification
Certifications are not a new thing in the accounting industry. However, with new technology trends, accounting departments are faced with the challenge of taking courses...
Create a Healthcare Plan for Retirement
If you pay $250 a month for cable and premium channels, that’s $3,000 a year. Over a 30-year period, the total cost would be $90,000....
8 Ways to Negotiate Medical Bills
According to statistics from the Society for Human Resource Management (SHRM), employer-budgeted healthcare costs increased to an average of $12,792 per employee in 2021. Employees...
What’s the Future for Measuring Employee Performance?
Yearly performance evaluations just might be heading out the door, according to a recent WorkHuman Analytics & Research Institute Survey. Findings reveal that these appraisals...
2022 U.S. Tax Legislation Forecast
No one knows for sure what 2022 will bring in the form of tax legislation, but there is certain to be some action. Top tax...
Raising the Debt Limit, Protecting the Capitol and Prohibiting Foreign Campaign Financing
A joint resolution relating to increasing the debt limit(SJ Res 33) – This legislation was initially introduced on Dec. 14 by Sen. Chuck Schumer (D-NY)....
2022 Technology Trends for The Accounting Industry
Technology has had a major impact on the accounting industry. Gone are days when technology was a second thought and accountants preferred the traditional methods...
Long-Term Investment Opportunities Presented by the Infrastructure Bill
In November, President Biden signed legislative funding that represents the largest transportation spending package in U.S. history. The $1.2 trillion Infrastructure Investment and Jobs Act...
How to Get Your 2022 Finances in Order
Believe it or not, the New Year is here. If you’re trying to wrap your head around everything that’s ahead, one of the best things...
How Businesses Can Combat Inflation’s Toll
According to the U.S. Bureau of Labor Statistics (BLS), the Producer Price Index (PPI) or the increase in prices, goods and services that producers experienced...
The Risks of Using Self-Directed IRAs
Self-directed IRAs (SDIRAs) are becoming more and more popular as IRA holders look to enter alternative investments. While SDIRAs can open up a world of...
Congress at Work: Infrastructure Spending, Hiring Veteran Health Heroes and Initiatives for Education, Childcare and Immigration
Infrastructure Investment and Jobs Act(HR 3684) – This legislation authorizes funding for federal highway, transit, safety, motor carrier, hazardous materials and rail programs of the...
Considerations When Automating Accounts Payables
Accounts payables (AP) is a process in the financial department that can be inconsistent and burdensome. However, today’s workforce has driven AP transformation – especially...
Venture Capitalism and ‘Unicorns’
Venture capitalism comes from an investor who offers money to start-up companies in exchange for an equity stake – much like you see on the...
5 Affordable Ways to Share the Holiday Spirit
The holidays are a season of giving. While much of this involves financial expenditures, you can also give in ways that are more affordable and...
How Businesses Can Recognize and Combat Employee Burnout
According to the job site Indeed, COVID-19 has taken a toll on workers even more in 2021, compared to 2020. The survey conducted by Indeed...
Year-End Tax Planning Tips for Individuals and Businesses
Here we are again, nearing the end of another year. While the tax deadline for 2021 isn’t until April 2022, now is the time to...
Increasing the Debt Limit, Extending Government Funding, and Protecting Vets, Veteran Moms and the Capitol Police
Increase of Public Debt Limit(S 1301) – This bill was enacted on Oct. 14 in order to increase the public debt limit. The debt was...
Why you should automate your accounts payables
Accounts payable (AP) is a crucial function to any business, as errors in the process put a company in problems. Although many businesses still use...
Flood Insurance: Insuring Your Home
Did you know that homeowner’s insurance doesn’t cover flood damage? Because of this, homes located in a Special Flood Hazard Area (SFHA) are required by...
10 Ways to Pay Off Student Debt Faster
If the thought of paying off your student loan causes a bit of anxiety, worry no more. Here are some ways to pay it off...
How to Develop Company Travel Policies Post-COVID
According to a recent U.S. Travel Association forecast, only about one-third of companies are requiring their employees to travel. With business travel still at a...
Potential New Tax on Stock Buybacks and What it Could Mean for the Financial Markets
President Biden’s latest spending bill could result in a new tax on corporate stock buybacks. In its most recent incarnation, the Senate version of the...
Enhancing Agency Budget Transparency, Opportunities to Study Science and Environmental Protections
Congressional Budget Justification Transparency Act of 2021 (S 272) – This bill mandates that federal agencies must make budget justification materials publicly available online. The...
Mistakes to Avoid When Implementing Business Accounting Technology
Choosing to implement new technology for your accounting needs is a big step toward improving your business. Accounting technology helps streamline the accounting system, thereby...
Strategies for Paying Off Student Loans
Today, 70 percent of college students graduate with an average of $30,000 in student loan debt. The average payment is nearly $400 a month and...
7 Ways to Save for a Home Down Payment
So you want to save for a down payment for your dream house, but you aren’t sure how to get there. It might even feel...
How Businesses Can Help Employees Improve their Skills
Based upon a recent McKinsey Global Survey, nearly 9 in 10 (87 percent) of management and above level respondents affirmed they are currently, or within...
New Proposed Tax Laws
The House recently released a nearly 900-page proposed bill that would make major changes to current tax laws. The bill is intended in large part...
Fiscal Year Funding Plus Legislative Support for Health Care Professionals and Physical Activity for All Americans
A bill to provide for the publication by the Secretary of Health and Human Services of physical activity recommendations for Americans (S 1301) – This...
Is Your Business Ready to Outsource Accounting?
Accurate and timely accounting is critical for any business’ survival. At the same time, it’s important for entrepreneurs to pour their energy into core business...
What is a Net Zero Economy?
President Biden re-entered the United States in the Paris Agreement. This is an international treaty first signed in 2015 in which countries around the globe...
How to Catch Up on Your Retirement
If you’re 40 or 50 and aren’t where you’d like to be in terms of saving for retirement, don’t despair. You can remedy this situation....
How and Why to Develop a Bring-Your-Own-Device Policy
With the internet available for essentially all employees and remote work becoming a part of more businesses’ operations, developing a bring-your-own-device (BYOD) policy is almost...
Tax Breaks for Helping Relatives
It’s not uncommon for adult children or siblings to act as caregivers for family members or give them financial assistance for medical or long-term care...
Blocking Voter Expansion, Proposing Greater Scrutiny of Inspectors General, and Paving the Way for Climate Change Measures
For the People Act of 2021 (HR 12) – This bill is designed to improve voter access to the ballot box by expanding automatic and...
Technology Driven Accounting: How to Prepare Staff for a New Age in Accounting
Technology has no doubt changed the traditional way of doing things. Businesses and professionals are left with no choice but to adopt new technology to...
HSA: Save it for Retirement
According to Fidelity Investments, the average 65-year-old couple retiring today will need about $300,000 for out-of-pocket healthcare expenses during retirement. And that doesn’t even include...
5 Tips for Job Seekers Over 50
You’ve got loads of experience in your field. You know things that only time can teach you. However, all of your experience and knowledge can...
How Businesses Can Harness Demand Forecasting
According to the Bureau of Economic Analysis, consumer spending has seen some interesting trends over the first half of 2021. May was flat, April was...
How to Turn a Summer Job into a Tax-Free Retirement Nest Egg and More
Tis the season for summer jobs for high school and college kids. These seasonal jobs are more than just an opportunity for teens and college...
Recognizing the Abolishment of Slavery and Compensating Law Enforcement, Overseas Federal Employees and Disaster Relief Victims
Juneteenth National Independence Day Act (S 475) – This bill authorizes Juneteenth National Independence Day on June 19 as a legal public holiday. The bill...
Audits in Accounting: Improving Audit Quality with Data Analytics
Auditing is crucial to ensure the accuracy and fairness of financial information. However, one of the biggest threats to audit reputation today is data quality....
Wishing on a Star: Investors Pour Billions in to SPACs
A SPAC is a special purpose acquisition company. It is typically sponsored by a venture capitalist or a private equity firm that has expertise in...
5 Tips for Going Back to the Office
Slowly, our world is changing. A percentage of the population has been vaccinated and many employees are headed back to the office. However, this may...
How to Develop a Hybrid Work Policy Post-Pandemic
According to a Prudential survey, 87 percent of respondents said they would prefer to work remotely at least one day per week. This is compared...
Restricted Stock & RSUs: 3 Planning Tips
Equity compensation is becoming more mainstream and is not just for executives anymore. Grants of restricted stock or restricted stock units (RSUs) are getting to...
Addressing Hate Crimes, Banks Serving the Cannabis Industry and Unilateral Power to Restrict Immigration
Comprehensive Debt Collection Improvement Act (HR 2547) – This bill would expand financial protections and restrictions on debt collection activities for consumers, in particular for...
How to Choose the Right Accounting Software for your Business
Business accounting activities can be tedious when performed manually and are prone to errors. For these reasons, many businesses have shifted to accounting software that...
Real Estate Opportunities in 2021
Even before the pandemic began, the U.S. residential real estate market was short on houses, with more people looking to buy than those who were...
6 Ways to Make Saving Money Fun
Let’s face it. Saving money is a challenge at best – and really hard the rest of the time. But what if you made it...
Vaccine Hesitancy: Why We Have It and How It Affects Employers and Employees
According to a Tufts University survey, six in ten of those surveyed are now vaccinated against COVID-19. However, almost 40 percent of the unvaccinated respondents...
The Biggest Winners and Losers in President Biden’s Proposed Individual Tax Plan
President Biden presented his $1.8 trillion American Families Plan, which focuses on expanding benefits for education, children and childcare. The Biden administration intends to pay...
Advancing Healthcare Initiatives, Small Business Funding and Protecting the Elderly from Scams
FASTER Act of 2021 (HR 578) – This bill expands the definition of major food allergens for food-labeling purposes to include sesame. It is designed...
E-Invoicing Presents Opportunities for Businesses to Save
Invoicing is an important process in any business. Unfortunately, it’s also a laborious process that requires accuracy. With technology advances, businesses have tried to use...
New Rules and Ways to Use HSAs/FSAs
People who own a high-deductible health insurance plan may have the ability to open a health savings account (HSA). They can contribute pre-tax income to...
7 Ways to Save 10K a Year
If you’re scratching your head and wondering if we’ve lost our minds, please keep reading. You can do this. All you need to do is...
How Businesses Can Hedge Against Increasing Inflation
Inflation is on the rise. According to a recent Economic News Release from the U.S. Bureau of Labor Statistics (BLS), the Producer Price Index for...
Everything There is to Know About the New Child Tax Credit
The Child Tax Credit as we know it originated during the Clinton administration, but the recently enacted American Rescue Plan created a new version. The...
Economic Stimulus, Making the Post Office Solvent Again, Gun Control, Voting Rights and Restricting China’s Influence
American Rescue Plan Act of 2021 (HR 1319) – This $1.9 trillion relief bill provides stimulus money to address the continued impact of COVID-19. Provisions...
How Cloud Accounting Helps Small Businesses Gain Competitive Edge
In a continuously changing business environment, small businesses have a challenge to keep up. It’s especially expensive to keep pace with ever changing technology. Luckily,...
Roth Conversion in 2021?
In 2020, a year when all income brackets benefited from lower tax rates, the stock market took a nosedive at the beginning of the pandemic....
3 Best Ways to Save for College
What if you could save enough for your child to go to college debt-free? It might sound impossible, but with dedication, hard work, and careful...
Non-Fungible Tokens and Their Special Taxation
Non-fungible tokens (NFTs) have exploded in use and popularity in recent months. NFTs have some special tax considerations to be aware of that can be...
How Companies Can Become More Nimble During the Product Lifecycle
The majority of U.S. industrial product company CFOs have shared concerns that COVID-19 would impact their businesses negatively. For companies that develop and manufacture products,...
Tax-Free Student Loan Forgiveness is Part of the Latest Covid-19 Relief Bill
The recently passed American Rescue Plan (ARP) Act of 2021 includes a provision making nearly all student loan forgiveness tax-free, at least temporarily. Before the...
Latest Stimulus Bill Provides More Relief for Americans and the Economy
Nearly one year after the COIVD-19 pandemic-driven shut-downs began the shutter the economy, Democrats pushed through another $1.9 trillion stimulus package by narrow margins, with...
Securing Jobs for Cabinet and Congress Members, Inspector Generals, and Apprentices – and Honoring Capitol Police Officer Eugene Goodman
To provide for an exception to a limitation against appointment of persons as Secretary of Defense within seven years of relief from active duty as...
How AI Chatbots are Transforming Businesses
When a business moves its services online, it runs the risk of losing the close connection it had with customers. This affects customer loyalty and...
The Impact of COVID on Life Insurance
If someone you know died from COVID-19 and had an existing life insurance policy, there should be no problem receiving the death benefit. The terms...
5 Cities Rank as Ideal Locations for Remote Workers
According to the National Bureau of Economic Research, in late spring of 2020 about half of American workers were working from home. Not surprisingly, many...
Some Businesses Rely on Line of Credit to Escape Damages Caused by Pandemic
As businesses attempt to work their way through to a post-pandemic world, there are various means to bridge the financial gap. As recommended by the...
Four Essential Questions You Should Ask Your Tax Professional This Season Related to COVID-19
Good tax professionals ask the right questions to ensure they understand your situation and can help you to the best extent the law allows. Given...
Protecting American Ports, Federal Buildings, Allies, Oceans, and Whistleblowers
Save Our Seas 2.0 Act (S 1982) – This bill was introduced by Sen. Alan Sullivan (R-AK) on June 26, 2019. The purpose of the...
Business Process Management Systems Provide Variety of Benefits to Owners
All businesses have one thing in common, and that is processes. Business processes – whether direct or indirect – are crucial when it comes to...
While Many Suffer Financially, Some Manage to Profit off Pandemic
The Federal Reserve recently reported that the 50 richest people in the United States increased their net worth by $339 billion during the first half...
How to Budget During a Pandemic
Right now with everything that’s going on, navigating your finances might feel overwhelming. However, there are some strategies that will help you manage cash shortfalls....
How Firms Can Restore Balance Sheets to Better Health
According to the World Bank Group, for businesses in emerging markets and developing economies, the bottom fourth percentile of the non-financial corporate (NFC) sector saw...
New Year-End Tax Provisions
In late December, Congress passed the Consolidated Appropriations Act, which in addition to providing COVID-19 relief provisions also included many tax provisions and extenders. The...
Prosecution for Use of Performance Enhancement Drugs, Modernizing Government Technology, and Enhancements for Veterans and Their Caregivers
Rodchenkov Anti-Doping Act of 2019 (HR 835) – This bill was introduced by Rep. Sheila Jackson Lee (D-TX) on Jan. 29, 2019. The purpose of...
Standalone 5G Networks: Potential Vulnerabilities that Could Result in Denial of Service for Customers
5G networks promise high speeds, lower latency, and more robust security compared to its predecessors – and this has created a lot of buzz. As...
What To Know About Filing For Bankruptcy
About one million Americans file for personal bankruptcy each year, with one in 10 households having filed at some point. Given the loss of jobs,...
Deciding if a Roth IRA Conversion is For You
Roth IRAs can be a powerful tax tool, but they are often misunderstood and misused. Investment income in Roth IRAs compound tax-free and most distributions...
Looking Ahead to 2021: Hope is Not Canceled
Despite the fresh start that a new year promises, our world hasn’t changed much since last March. We’re still living in a new normal. We’re...
COVID-19 Vaccination Considerations for Employers
Looking at a 2009 letter from the U.S. Department of Labor, Occupational Safety and Health Administration (OSHA), employers may be able to require their employees...
Paying the Price for Vice: The Evolving Landscape of Excise Taxes in America
While excise or vice taxes have long been a part of the American tax landscape related to alcohol and cigarettes, the recent invention of vaping...
A Flush of Protections for Veterans and Native Americans
Veterans’ Compensation Cost-of-Living Adjustment Act of 2020 (HR 6168) – Introduced by Rep. Elaine Luria (D-VA) on March 10, this bill increases Vet compensation benefits...
Will StarLink be the Next Disruption to the Telecommunication Industry?
With every new project comes expectations, uncertainties, questions, opposition, and more. Elon Musk’s StarLink internet is one such project.Just last month, on Nov. 24, SpaceX...
Last Minute Financial Moves for Year’s End
There are certain year-end financial transactions that must clear by Dec. 31 to be reported on the 2020 tax return. It’s important to take a...
COVID-19 Vaccine Rollout: Where We Are So Far
While the pandemic is not over, we do have some good news. There are vaccines and they will be available soon. Here’s where we are...
How Businesses Can Adapt, Grow During COVID-19
In order to survive – and even thrive – during these unprecedented times, small businesses have had to find new ways to make money. The...
2021 Social Security Tax and Benefit Increases Announced
The Social Security Administration recently announced 2021 increases to both benefits and the taxable wage base for FICA taxes.Increases Announced for 2021Workers are facing a 3.7...
Dial 9-8-8 for a Mental Health Crisis; Enforcement Against Violence in the Native American Community; and Enhanced Protections for Veterans and Wildlife
National Suicide Hotline Designation Act of 2020 (S 2661) – Introduced by Sen. Cory Gardner (R-CO) on Oct. 22, 2019, this bill requires the Federal...
Exploring Brain Computer Interface: Tech That Connects to Your Brain
Imagine using your mind to control machines, or your employer reading how you feel in real-time from a dashboard? This is the future of BCI...
A Realistic Picture: Will You Be Able to Afford In-Home Elder Care?
By the end of September, the nation had recorded over a quarter-million cases of COVID-19 and nearly 60,000 deaths in nursing homes that were attributed...
Why Gratitude is Important During a Pandemic
We’re living in unprecedented, challenging times. If you’re feeling stressed and scared, you’re not alone. However, there is a way to navigate through all of...
How to Effectively On-board & Train Employees Virtually
With COVID-19 still requiring remote working, companies that effectively on-board new workers retain their workers longer, have better worker performance, and increase their profits by...
Our Top 6 Year-End Tax Planning Tips
This has been a year of economic and tax uncertainty with the impact of the COVID-19 pandemic, potential stimulus bills, and the presidential election. As...
Space Weather Forecasting, New Safety and Transparency Reporting Guidelines, Paying to Charge Federal Electric Vehicles, and a Plan to Celebrate Route 66
PROSWIFT Act (S 881) – This Act was sponsored by Sen. Gary Peters (D-MI) on March 26, 2019. The legislation is designed to improve understanding...
Avoid Wasting Money on Digital Marketing with These Tips
In last month’s article titled “How to Make the Most of Digital Marketing,” we examined how digital marketing can help your business grow. Unfortunately, this...
Long-Term Financial Impact of COVID-19
As bad as the economy is right now due to the COVID outbreak in the United States, many economists are predicting that the long-term outlook...
Affordable Lunches for Kids Learning at Home
Due to the uncertainty of COVID-19, many schools across America have transitioned to at-home learning. This alone presents a whole new set of challenges for...
The Importance of an SSL Certificate and Best Practices
What is an SSL Certificate?An SSL (Secure Sockets Layer) certificate used is to encrypt traffic between systems, such as client and server. This is done...
Plan for Business Continuity if Second Wave of COVID Hits
With winter around the corner and the threat of seasonal viruses looming, a second wave of COVID-19 poses a real threat to our health and...
What’s Next for a Stimulus Bill?
The Senate Republicans' slimmed-down stimulus bill recently failed to materialize after receiving less than the 60 votes needed to move forward. The “skinny” stimulus bill,...
Laws to Enhance Benefits for Service Members, First Responders, Veterans and to Restore National Parks and Public Lands
A bill to amend the Servicemembers Civil Relief Act to extend lease protections for servicemembers under stop movement orders in response to a local, national,...
How to Make the Most of Digital Marketing
Digital marketing is not a new phenomenon. However, new realities imposed by the COVID-19 pandemic have highlighted the importance of digital marketing for businesses. Basically,...
Tips for Retiring in the Next 10 Years
The stock market continues to perform with relative resilience, despite the current economic decline. But to be clear, without 100 percent participation in the economy...
Five Ways to Manage Back-to-School Stress
If you’re anxious about sending your children back to school, you’re not alone. In fact, a recent poll from ABC News/Ipsos showed that 45 percent...
Three Strategies Companies Can Implement to Recover Faster
Small businesses nationwide were already facing cash problems before the COVID-19 pandemic, according to McKinsey & Company. The firm found that almost one-third of small...
3 State Level Tax Hikes That Might Be Coming Due to COVID-19
No surprise, but Americans are consuming and spending less since the coronavirus kicked in. Retail sales dropped to 8.7 percent in March, the largest month-over-month...
Relief and Funding for Human Rights, Emergency Aid, Cash-Flow Assistance and New Infrastructure Projects
Law Enforcement Suicide Data Collection Act (S 2746) – This bill authorizes the establishment of a new Law Enforcement Officers Suicide Data Collection Program to...
Robotics Carves Out Niche in Various Businesses
Away from the movies, robots are becoming a reality in everyday life.Robots have played a major role in manufacturing industries to perform basic tasks that...
Borrowing From Your Retirement Plan: New CARES Act Rules
It’s been nearly half a year since Americans first became widely aware of the coronavirus contagion within the United States. While for a brief month...
Help for People Struggling to Pay Bills
The impact of COVID-19 has caused many Americans to suffer hardships, one of which is struggling to make ends meet. But take heart; there are...
IRS Gears Up for Aggressive Enforcement
Recently, the IRS Commissioner testified before the Senate Finance Committee, sending the message that the IRS is committed to catching intentional tax evaders. There was...
How to Develop a Sanitation Plan for Employee and Customer Safety
As part of a comprehensive strategy to cope with COVID-19 and reduce the risk of spreading it, developing a sanitation plan is a necessary tool...
How to Develop an Employee Leave Policy During COVID-19
According to the United States Department of Labor's Wage and Hour Division, the Families First Coronavirus Response Act addresses how select businesses must give their...
R&D Tax Credits May be Part of the Next Tax Relief Bill
As the economic impact of COVID-19 lingers and an impending second wave is on everyone’s mind, Congress is already thinking of new legislation to stimulate...
Helping Small Business Owners, Seniors and U.S. Hostages, and Limiting Intrusive Domestic Surveillance
Paycheck Protection Program Flexibility Act of 2020 (HR 7010) – Rep. Dean Phillips (D-MN) introduced this legislation on May 26. This Act modifies provisions related...
Fileless Malware Poses New Threat to Computer Users
With increased cyber threats, there is great awareness of malware that comes attached in files. Individuals and businesses invest in security solutions to protect against...
How To Use Qualified Charitable Distributions For Charitable Giving
Each year, millions of Americans make donations to charitable organizations and receive something in return – a tax break. However, the 2017 Tax Cuts and...
Best Part-Time Jobs During Corona
Even though unemployment is still relatively high, there are still some great part-time jobs you can do that will help cover basic expenses. Here’s a...
How Businesses Can Help Protect Themselves Against Civil Unrest
If the COVID-19 pandemic isn't a big enough strain on businesses trying to engage in commerce, whether it’s retailers, restaurants, manufacturers, or those in the...
Hiring in the Age of Coronavirus
The U.S. job market gained 2.5 million jobs during the month of May, dropping the unemployment rate to 13.3 percent, according to the U.S. Bureau...
HEROES ACT Can Combat Economic Downtown
The HEROES Act, otherwise known as the Health and Economic Recovery Omnibus Emergency Solutions Act, can greatly improve the benefits for the earned income tax...
In the Wake of the Coronavirus Pandemic, Congress Passes the Most Expensive Single Spending Bill in American History
Paycheck Protection Program and Health Care Enhancement Act (HR 266) – This is a multilayered legislative bill divided into four distinct sections. Phase 1 authorized...
How IT Spending Will Change When Business Resumes
Most states are starting to relax stay-at-home restrictions. As such, businesses are developing plans for bringing employees back to work. Many businesses are already affected...
Why Sequence of Returns Risk Matters Now
That year or two when you are closing in on your retirement date, followed by a year or two after you retire, are the worst...
How to Stay Productive When Working from Home
Due to the unprecedented effects of COVID-19, the line between our professional and personal lives has blurred. Trying to take care of job responsibilities from...
Payroll Protection Program Loan Forgiveness is Here
The first Payroll Protection Program (PPP) loans were made over eight weeks ago, which means they may be forgivable if the guidelines set forth by...
Understanding the Federal Government’s Proposal for Opening Up Again
After seeing a peak and then a sustained decline in coronavirus cases, hospitalizations, and deaths resulting from COVID-19, the White House and the Centers for...
IRS Questions and Answers on COVID-19 IRA and 401(k) Loans & Distributions
The CARES Act stimulus package substantially relaxed the rules around certain retirement account loan and distribution requirements, but with much confusion. As a result, the...
COVID-19 Recovery Responses are Crucial for Companies to Thrive in the Future
With the coronavirus spreading across the globe, catching individuals and governments off guard, business owners have not fared any better. While the virus is having...
More Coronavirus Relief, Plus Beefed-Up Security for Technology, the Elderly, and Children Born to U.S. Citizens Serving Overseas
Coronavirus Aid, Relief and Economic Security Act (HR 748) – This legislation provided $2 trillion of stimulus relief in response to the coronavirus crisis. Provisions...
Heightened Hacking as Corona Pandemic Worsens; How to Avoid Being a Victim
Since the escalation of COVID-19 cases, malicious activity from cybercriminals is also on the rise.Hackers are taking advantage of the coronavirus fear to carry out...
Prospects for Investing in the 2020s
The third decade of the 21st century started out with a vigorous economy, record low unemployment levels, and benign inflation. But late in the first...
Six Industries Hiring During the Shutdown
During the government shutdown as a result of COVID-19, sadly, millions have lost their jobs. However, there is a silver lining: there are some industries...
Understanding the High-Low Method
When it comes to cost accounting, the high-low method is an approach that's used to break mixed costs into either a variable or fixed cost....
Be Right About Free Money: Potential Legal Risks of the Paycheck Protection Loan Program
One of the most important provisions of the CARES Act for small businesses is called the Paycheck Protection Program (PPP). The PPP is a $349...
Answers to Common Questions About the Coronavirus Stimulus Checks
So many checks and even more questions! There is a lot of confusion out there over the details surrounding the coronavirus stimulus checks, so below...
Focused Almost Exclusively on Mitigating the Health and Economic Impact of the Coronavirus
Coronavirus Preparedness and Response Supplemental Appropriations Act, 2020 (HR 6074) – Introduced by Rep. Nita Lowey (D-NY), this was the first bill passed to authorize...
New to Remote Working? Here are Some Tips for Staying Productive
The COVID-19 pandemic has seen a rise in remote working. Even organizations that have always been against it have their employees working from home. With...
The Economic Impact of Coronavirus
In the days ahead, the COVID-19 pandemic will likely be described in economic terms as a Black Swan. This phrase is used to describe an...
6 Financial Tips for an Emergency
The effect of the coronavirus on our lives is unprecedented. While we’re all sheltering in place while trying to manage our daily tasks, it’s undoubtedly...
CARES Act – Coronavirus Aid, Relief, and Economic Security Act
U.S. Government Provides Relief to Individuals, Businesses in Midst of COVID-19 CrisisOn March 27, President Donald Trump signed into law a historic $2 trillion stimulus...
Should You File an Amended 2018 Return?
During the holiday season in December, Congress passed the Consolidated Budget Appropriations Act of 2020. Included in this Act was a tax package that renewed...
Supporting Veteran Careers, Protecting the Food Supply, and Reducing Wasted Government Spending
Supporting Veterans in STEM Careers Act (S 153) – This bill encourages veterans to participate in STEM (science, technology, engineering, and mathematics) fields in a...
6506148 B2 Patent: Nervous System Manipulation – Is it Real or Just Paranoia?
Imagine someone manipulating how you feel. Of course, no one wants that. But how about being manipulated unknowingly? This is exactly what is happening to...
SECURE Act Seeks to Help Americans Save More for the Golden Years
At the end of 2019, Congress passed the Setting Every Community Up for Retirement Enhancement (SECURE) Act as part of a year-end appropriations package. This...
7 Ways to Avoid Investment Fraud
These days, you can’t be too careful when it comes to investments. And if you’re older, you’re a prime target for fraudsters. That said, anyone...
Understanding Three Revenue Metrics
According to the 2019 Small Business Profile, a project from the U.S. Small Business Administration’s Office of Advocacy, there are 30.2 million small businesses, making...
4 Common Liquidity Ratios in Accounting
One way a business can manage its books and viability in the near and long terms is to see how liquid its assets are. Businesses...
Taxes and Tariffs: The U.S. Response to France’s Digital Tax
How it All StartedBack in July of 2019, France passed what was dubbed a “digital tax” targeting the largest tech companies. Impacting approximately 30 big...
Blocking Robocalls, Stepping Up Suicide Prevention for Vets, and Appropriating Funds for a New Space Force
Pallone-Thune Telephone Robocall Abuse Criminal Enforcement and Deterrence Act (S 151) – Approximately 58.5 billion robocalls were made in the United States last year, a...
How Businesses Benefit from Big Data Analytics
Previously we looked at the key technology trends in accounting to watch out for in 2020. Among the trends are big data and data analytics,...
Safety vs. Probability: Planning For Retirement
As we progress through life, we find there are certain things we can control and others we cannot. However, even with the things we can’t...
6 Ways to Keep Safe When Using Mobile Banking
For the most part, smartphones are your lifeline to the world. You connect with friends and family, shop and update your status on social media....
Why eSignatures Are Better Than Handwritten Signatures
Signatures play an important role in authenticating a document or binding an individual by the provisions contained in a document. And sometimes, a handwritten signature...
Understanding Four Types of Depreciation
Depreciation is an accounting process where the cost of an asset is accounted for and expensed over its useful life. It shows how the value...
When Should You Switch Your Side Hustle to a Business Entity Structure?
Starting a side hustle today is easier than ever. Between the numerous websites that act as marketplaces and project jobs that can be found on...
Protecting TV Viewers, Whistleblowers and Supreme Court Justices; New Status Provisions for Immigrant Workers; and OTC Drugs
Reauthorizing Security for Supreme Court Justices Act of 2019 (HR 4258) – This bill reauthorizes the Marshal of the Supreme Court and the Supreme Court...
Key Technology Trends in Accounting to Watch Out For in 2020
Technology advances continue to reshape industries and businesses – and the accounting industry is no exception. So far, a lot of repetitive tasks are performed...
Economic Correlation: Cyclical and Non-Cyclical Stocks
A rising tide might lift all boats, but the same cannot be said for the economy.When the U.S. experiences robust economic growth, certain sectors of...
4 Financial New Years Resolutions You Can Actually Keep
Believe it or not, it’s 2020. You’re not just starting a new year, you’re entering a new decade. With this in mind, you might want...
The SECURE Act of 2019
The SECURE Act of 2019 is a broad bill with the purpose of increasing access to tax-advantaged retirement accounts in order to prevent retirees from...
How to Calculate and Analyze Return on Equity
When it comes to evaluating a business, especially one that is publicly traded, determining its return on equity (ROE) is one way to see how...
2020 Tax Brackets, Deductions, Plus More
Beginning on Jan. 1, 2020, the Internal Revenue Service (IRS) has new annual inflation adjustments for tax rates, brackets, deductions, and retirement contribution limits. Note, the...
Hanging Flags, Awarding Geniuses, Supporting Hong Kong Protestors and Criminalizing Animal Cruelty
National POW/MIA Flag Act (S 693) – This bill amended title 36 of the United States Code to require that the POW/MIA flag be displayed...
What is Splinternet and Why You Should Care
Eric Schmidt, former Google CEO, made a prediction in September 2018 that the internet will split in two – one part being led by China...
Gross Domestic Product: A Primer
The economic indicator known as Gross Domestic Product (GDP) represents the dollar value of all purchased goods and services over the course of one year....
Practicing Gratitude: A Look Back at 2019
It may be hard to believe, but the end of the year is upon us. During this time, many of us might reflect on the...
How to Defer, Avoid Paying Capital Gains Tax on Stock Sales
The markets are hitting all-time highs, so if you are thinking of selling stocks now or in the near future, there is a good chance...
Furniture, Fixtures and Equipment – and Depreciation
When it comes to determining depreciation for Furniture, Fixtures and Equipment (FF&E), there are many considerations that exist for accountants and business owners.Defining Furniture, Fixtures...
Fighting Foreign Terrorism on Homeland Soil, Increased Protections for Clean Water and Low-Income Veterans, and New Appropriations for FY2020
Terrorist and Foreign Fighter Travel Exercise Act of 2019 (HR 1590) – This bill promotes the identification and determent of terrorist activity from reaching the...
How to Stay Safe with Business Email Compromise on the Rise
According to a report by the Financial Crimes Enforcement Network (FinCEN) released in July, financial institutions have incurred more than $9 billion in losses due...
What to Expect and How to Prepare for a Recession
Economists generally determine that the country has fallen into a recession after two consecutive quarters of negative gross domestic product (GDP) growth. Since 1967, the...
5 Ways to Save on Holiday Gifting
Believe it or not, the holidays are right around the corner. And try as you might, overspending is real – whether you plan ahead or...
LIFO Versus FIFO and How Each Method Values Inventory
As the name implies, First-In, First-Out (FIFO) is a way for companies to value their inventory. The first items put into inventory or produced by...
Tax Changes 2019
With the start of the fourth quarter of 2019 underway, it's time to see what the Internal Revenue Service (IRS) will expect of filers for...
Debt Relief for Military Service Members, Veterans, Family Farmers and Small Business Owners
Small Business Reorganization Act of 2019 (HR 3311) – Scheduled to take effect starting in February 2020, this new law offers small businesses more agreeable...
What is VPN and Why Do You Need It?
The rise in the number of data breaches reported every other day has become a major concern – even to the ordinary internet user. As...
How to Inflation-Proof a Retirement Portfolio
Statistics indicate that the average life expectancy is longer than it used to be, but empirically we see this every day among elderly people who...
How Parents Can Save Money for College-Bound Kids
No matter how old your children are, it’s always a good idea to start saving for college as soon as possible. (Yes, even when they’re...
When Full Costing Accounting Makes Sense
With more than 1.4 million accounting jobs in 2018, according to the Bureau of Labor Statistics, there are many different uses for accountants and their...
How to Get the IRS to Pre-Approve Your Taxes
It might seem odd, but it is possible to get the IRS to give you a straight-forward and binding answer to ambiguous tax positions in...
Extending Medicaid Funding, the Debt Limit, Membership into the American Legion, and Support For 9-11 Victims, Law Enforcement Officers, and Breastfeeding Moms
Sustaining Excellence in Medicaid Act of 2019 (HR 3253) – This bill authorizes appropriations through fiscal year 2024 and makes changes to several Medicaid programs...
The Rise of Biometrics Security and Why You Should Take Precaution
Biometric technology has been on the rise as it promises to make the authentication process more secure and convenient. Unlike passwords and key cards, biometrics...
Lost Inheritance: How To Find a Deceased Parent’s Assets
If you have a relative who recently died and left you in charge of his or her finances, you are not alone. You probably have...
5 Money-Saving Ideas for Back-to-School Shopping
Just when you’ve finished spending a bunch on swimsuits and stuff for grilling out, summer’s over and it’s time for the kids the head back...
Payroll Management Tips
When it comes to an employer's responsibility for non-exempt workers, according to the U.S. Department of Labor, there are many requirements businesses must follow related...
The Five Key IRS Rules of Taxation for Lawsuit Settlements
Coming out on the winning side of a lawsuit as a plaintiff can be a gratifying feeling, especially if there is a financial settlement involved....
IRS Releases New Projected 2019 Tax Brackets, Rates and More
IRS Releases New Projected 2019 Tax Rates, Brackets and More Bloomberg recently released projected tax rates, brackets and other numbers that apply to the 2019...
2017 vs. 2018 Federal Income Tax Brackets
Single Taxpayers 2018 Tax Rates - Standard Deduction $12,000 2017 Tax Rates - Standard Deduction $6,350 10% 0 to $9,525 10% 0 to $9,325 12%...
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