Use Your 401(k) and Roth to Save
Using your 401(k) and Roth plans to save this year and next You can reduce taxes and save for retirement by contributing to a tax-advantaged retirement plan. If your employer…
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New Accounting Alternatives for Not-for-Profits
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?…
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Measuring Fair Value for Financial Reporting
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…
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Unemployment Tax Costs of Your Business
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…
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Succession Planning and Retirement Planning
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…
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Gift Tax: Take advantage of the exclusion rules
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…
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Internal Control and Management Letters
Management letters: Have you implemented any changes? Audited financial statements come with a special bonus: a “management letter” that recommends ways to improve your business and your internal controls. That’s…
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Taxes and Series EE Savings Bonds
When is tax due on Series EE savings bonds? You may have Series EE savings bonds that were bought many years ago. Perhaps you store them in a file cabinet…
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Social Security Tax for Household Employees
Do You Pay Social Security Taxes for Your “Nanny” The “nanny tax” must be paid for more than just nannies You may have heard of the “nanny tax.” But even…
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A Budget is Key to a Successful Start-up
Ready for a Start-up? Start With Your Budget. Are you budget ready? More than half of recent college graduates plan to start a business someday, according to the results of…
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