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January 23, 2024

Corporate Transparency Act — Beneficial Ownership Information Reporting Requirement

Starting January 1, 2024, a significant number of businesses will be required to comply with the Corporate Transparency Act (“CTA). The CTA was enacted into law as part of the National Defense Act for Fiscal Year 2021. The CTA requires the disclosure of the beneficial ownership information (otherwise known as “BOI”) of certain entities from… View Article

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December 19, 2023

Wage Garnishment Considerations for Business Owners

According to the United States Department of Labor’s Consumer Credit Protection Act (CCPA), wage garnishments are a complex legal process for employers to account for when it comes to employment matters. This article specifically refers to Title III of the Consumer Credit Protection Act. Usually authorized through a court order, a wage garnishment directs an… View Article

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January 23, 2024

Corporate Transparency Act — Beneficial Ownership Information Reporting Requirement

Starting January 1, 2024, a significant number of businesses will be required to comply with the Corporate Transparency Act (“CTA). The CTA was enacted into law as part of the National Defense Act f...

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Technology Trends for Business to Watch in 2024

The unrelenting advancement of technology is still going strong even as we enter 2024. The business landscape is poised for transformative changes, driven by ongoing developments that demand organizat...

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Documenting Fiduciary Accounting Practices

Fiduciary accounting, which is also referred to as court accounting, is a way to document and report financial activity during a discrete period of time for legal entities, such as a conservatorship, ...

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Considerations For Paying Off a Mortgage Early

For many, buying a home is the biggest asset they will ever own. However, you aren’t able to fully benefit from that asset until you pay off the mortgage; until then it is technically a liability. T...

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A Safeguarding Your IRS Payments: Defending Against Check Washing Fraud

In an era where financial scams are becoming increasingly sophisticated, protecting your IRS payments demands more awareness than it once did. Check washing fraud, a technique where thieves steal chec...

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Breaking: IRS Restarts Collection Notices But Adds Penalty Relief

In a significant development to assist individuals, businesses, and tax-exempt organizations grappling with back taxes, the Internal Revenue Service (IRS) has introduced new penalty relief for approxi...

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Home IRS Expands Requirements to E-File Information Returns Starting in 2024

Businesses, whether operating as a corporation, partnership, or a sole proprietorship, have been required to electronically file information returns when the aggregate number of these returns, regardl...

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Wage Garnishment Considerations for Business Owners

According to the United States Department of Labor’s Consumer Credit Protection Act (CCPA), wage garnishments are a complex legal process for employers to account for when it comes to employment...

Read More >>

Impact of Digital Currency on Businesses’ Accounting

The emergence of digital currency is reshaping how businesses operate and account for financial transactions. As accounting professionals navigate this transformative wave, understanding the profound ...

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The 2023 Tax Planning Guide

It’s that time of year again: time for year-end tax planning. With the end of 2023 coming fast, the time to act is now. In this article, we’ll look at the moves you can make to optimize yo...

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Kiddie Tax – What a Parent needs to Know

The Kiddie Tax was introduced in 1986 to prevent high-income parents from shifting their investment income to their children, who typically fall into lower tax brackets. While the term “Kiddie Tax...

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What to Do When You’ve Made a Mistake on Your Tax Return

Filing taxes can be a complex process, and it’s not uncommon for mistakes to occur. Whether it’s a simple miscalculation or a more significant error, knowing how to navigate IRS tax proble...

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Taxes and Holiday Gift Giving

The holiday season is customarily a time of giving gifts, whether to your favorite charity, family members or others. Some gifts have tax implications and can even provide a variety of tax benefits. B...

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Two Ways to Measure Revenue Per User

When it comes to measuring revenue, it’s essential that businesses analyze it from a variety of perspectives. While there’s revenue and net income on an income statement to show a company̵...

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2024 Cost of Living Adjustments

In one year’s time, the U.S. inflation rate dropped by more than half, from 8.2 percent in September 2022 to 3.7 percent in September of 2023.   If there is a downside to lower inflation, it’s a...

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7 Smart Savings Strategies for Retirement

Next year, something called Peak 65 is happening. This moniker refers to the fact that more Americans will reach the traditional retirement age of 65 in the same year than at any time in history. Craz...

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Streamline Your Business Finances: QuickBooks Online Fund Recording Tips

As the business world becomes increasingly competitive – and increasingly digital – it is essential to maintain meticulous financial tracking and accurate recording of all incoming funds. QuickBoo...

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Home Energy Audit Tax Benefits

Have you been thinking of making home improvements? If so, and they include energy saving improvements, you may qualify for some substantial income tax credits. Even if home improvements aren’t curr...

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Accountable Plans: A Win-Win for Employers and Employees

As an employer or an employee one intricacy of tax laws and regulations that often goes unnoticed is the concept of Accountable Plans. These plans, when implemented correctly, can provide significant ...

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Securing Your Identity: The Role of Decentralized Identity Systems in Data Breach Prevention

Data breaches have been on the rise as cybercriminals keep coming up with new ways to steal user-sensitive information. Just in the second quarter of 2023, 110.8 million user accounts were breached. O...

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