Your Tax Bill and Ways to Cut It Now
There still might be time to cut your tax bill with IRAs If you’re getting ready to file your 2019 tax return, and your tax bill is higher than you’d…
Nonprofits and the New Contribution Guidance
Nonprofits: Are you ready for the new contribution guidance? When the Financial Accounting Standards Board (FASB) updated its rules for recognizing revenue from contracts in 2014, it only added to…
What are the responsibilities of an audit committee?
Your Audit Committee Role Before you jump headfirst into the year-end financial reporting process. You should review the role independent audit committees play in providing investors and markets with high-quality,…
Tax Identity Theft – Why You Should File Early
Tax Identity Theft Keeping You Awake? Help protect your personal information by filing your 2019 tax return early. Prevent tax identity theft. The IRS announced it is opening the 2019…
Employee benefit plans: Do you need a Form 5500 audit?
Audit of Your Employee Benefit Plan Some benefit plans are required to include an opinion from an independent qualified public accountant (IQPA) when filing Form 5500 each year. The IQPA…
Tax Breaks for Businesses and Employers
New law provides a variety of tax breaks to businesses and employers While you were celebrating the holidays, you may not have noticed that Congress passed a law. With a…
Audit Procedures: Risk assessment
Audit Procedures and Risk assessment: A critical part of the audit process Audit season is right around the corner for calendar-year entities. Here’s what your auditor is doing behind the…
Deductible Expenses and Medicine
Medical expenses: What it takes to qualify deductible expenses Are your medical services and prescription drugs deductible expenses? You may be able to deduct some of your expenses on your…
Financial Statements: GAAP vs. Tax-basis
GAAP vs. tax-basis: Which financial statement is right for your business? Most businesses financial statements report financial performance using U.S. Generally Accepted Accounting Principles (GAAP). But the income-tax-basis format can…
Is Your Filing Status Correct – Better Check
Is your filing status up to date? For tax purposes, December 31 means more than New Year’s Eve celebrations. It affects the filing status box that will be checked on…