Recent News

Be Prepared for Tax Season

The new year is upon us. And the new year means time to prepare for tax season! You may have a lot of resolutions that...

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...

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...

How Will the Biden Administration’s China Policy Impact Markets?

The Obama and Trump administrations couldn’t have had a more different approach when it came to U.S. relations with China. As the Institute for China-America...

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...

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...

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...

Why File Your Business Taxes With a Small Business CPA?

As a small business owner, you may think that doing your own taxes and not hiring a small business CPA is a great way to...

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...

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...

How Will the Biden Administration Influence the Federal Reserve?

With the nation on the precipice of a transition of administrations on Jan. 20, 2021, there will need to be many roles filled both in...

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...

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...

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...

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...

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...

How Would a Second Stimulus Check Impact Markets?

The $1,200 stimulus check sent out to individuals had mixed impacts on our economy, based on academic research, including by the University of California-Davis. For...

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...

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...

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...

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...

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,...

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...

Examining Fed’s New Targeted Inflation Policy

Looking back to 2012, the Federal Open Market Committee (FOMC) – a collaboration of the 12 regional Fed banks and the Federal Reserve Governors in...

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...

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...

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...

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...

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...

How Will Monetary Policy Impact Markets Going Forward?

With gold hitting $2,000 an ounce in recent days, coupled with the Federal Reserve's monetary policy creating a lot of liquidity, how will markets perform...

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...

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,...

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,...

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...

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...

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...

How Will the Market Price in Q2 Earnings?

The New York Fed Staff Nowcast predicts a negative 14.3 percent (-14.3 percent) growth of real GDP for Q2 of 2020 and a positive 13.2...

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...

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...

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...

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...

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...

How Likely Would a Second Coronavirus Wave Negatively Impact the Stock Market?

As Johns Hopkins University of Medicine's Coronavirus Resource Center revealed a recent increase of coronavirus cases in the Southern and Southwestern United States, the VIX...

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...

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...

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...

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...

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...

Are Dividends Becoming a Luxury During the Coronavirus Pandemic?

According to the futures market, Chicago Mercantile Exchange contracts are forecasting a drop of 27 percent in dividends over 24 months for the S&P 500...

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...

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...

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...

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...

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...

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...

How Will U.S. Employment Figures, Coronavirus Impact Job Markets?

With the CARES Act (Coronavirus Aid, Relief and Economic Security) signed into law by President Trump on March 27, this set into motion major initiatives...

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...

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...

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...

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...

Understanding the Oil War between Russia and Saudi Arabia

Over the past six years, domestic crude oil has experienced a volatile ride. 2014 saw the emergence of American shale as producers were attracted to...

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...

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...

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...

Coronavirus: Black Swan or Buying Opportunity?

According to the World Economic Forum (WEF), the spread of the coronavirus will impact the world's economy. Whether it's a Reuter's poll from economic experts...

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,...

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....

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...

How Will 20-Year Treasury Bonds Impact the Economy?

According to a Jan. 16 press release from the U.S. Department of the Treasury, within the first six months of 2020, the federal department will...

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...

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...

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...

How Will Oil Prices Fare in 2020 With Global Events?

When it comes to 2020 and energy prices, the world's energy market will face many known and unknown variables. How and what types of events...

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...

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...

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....

What Would a Phase One Deal with China Encompass?

The so-called phase one of a trade deal with China is expected to contain a provision for $40 billion to $50 billion in purchases of...

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...

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...

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...

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...

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...

How Will Ongoing China Trade Tensions Tensions Impact Consumer Spending?

According to the U.S. Department of Commerce and the U.S. Census Bureau, retail sales came in at a negative 0.3 percent for September, even though...

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 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...

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...

Will China’s Recent Soybean Purchase Begin Thawing the Trade War?

With the United States Department of Agriculture’s Foreign Agriculture Service announcing a purchase of 204,000 metric tons of U.S. soybeans by private Chinese importers, there...

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...

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...

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...

How Will Tariff Developments Impact the Stock Market Going Forward?

According to an Aug. 13 press release from the office of the United States Trade Representative (USTR), there will be a 10 percent tariff levied...

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%...