After you file your tax return: 3 issues to consider
Tax return filed? Now consider these thing The tax filing deadline for 2019 tax returns has been extended until July 15 this year, due to the COVID-19 pandemic. After your…
What qualifies as a “coronavirus-related distribution”?
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…
Covid Questions? Here are Some Answers.
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 and a Trouble-free IRS Audit
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 and Revenue Recognition
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…
Accounting and Your Month-End Close
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…
IRA: A Nonworking Spouse can Still Have One
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…
Sales and Your Business During Pandemic
Businesses revise sales compensation models during pandemic Economists will look back on 2020 as a year with a distinct before and after. In early March, most companies’ sales projections looked…
Health Savings Account: IRS Releases 2021 Amounts
Health Savings Accounts for 2021 Recently the IRS released the 2021 inflation-adjusted amounts for Health Savings Accounts (HSAs). Health Savings Account Basics A HSA is a trust created or organized…
Virtual Team Building – How to Succeed
Virtual team building while working remotely Thanks to affordable technology, more and more companies have been allowing employees to work remotely in recent years. It’s become feasible to procure laptops,…