Nonprofits: New accounting alternatives for reporting goodwill and other intangibles Did you know that the Financial Accounting Standards Board (FASB) recently extended the simplified private-company accounting alternatives to not-for-profit organizations?…
Measuring fair value for financial reporting Financial reporting for business assets are generally reported at the lower of cost or market value. Under this accounting principle, certain assets are reported…
Understanding and controlling unemployment tax costs As an employer, you must pay federal unemployment (FUTA) tax on amounts up to $7,000 paid to each employee as wages during the calendar…
Putting together the succession planning and retirement planning puzzle Everyone needs to plan for retirement. But as a business owner, you face a distinctive challenge. You must save for your…
Gift tax exclusion rules As we head toward gift-giving season, you may consider giving gifts of cash or securities to your loved ones. Taxpayers can transfer substantial amounts free of…