What qualifies as a “coronavirus-related distribution” from a retirement plan? As you may have heard, the Coronavirus Aid, Relief and Economic Security (CARES) Act allows “qualified” people to take certain…
Do you have tax questions related to COVID-19? The COVID-19 pandemic has affected many Americans’ finances. Here are some answers to questions you may have right now. My employer closed…
Good records are the key to tax deductions and trouble-free IRS audits If you operate a small business, or you’re starting a new one, you probably know you need to…
Financial statements, revenue recognition, and leases: FASB gives certain entities more time Private companies and most nonprofits were supposed to implement (in their financial statements) updated revenue recognition guidance in…
5 accounting steps to streamline the month-end close Many companies struggle to close the books at the end of the month. The month-end close requires accounting personnel to round up…
A nonworking spouse can still have an IRA It’s often difficult for married couples to save as much as they need for retirement when one spouse doesn’t work outside the…