Now that Research & Experimentation expenses must be amortized over several years, many companies are looking for ways to increase deductions and reduce taxable income. Here are three [...]
Many economists are predicting that the US economy will experience a downturn, if not a recession, in 2023. A downturn can lead to job loss, reduced income, and financial insecurity. While it's [...]
Many business owners want to incentivize and reward employees by tying their compensation to the company's performance. One way to do this is through stock options, but using stock appreciation [...]
The Financial Accounting Standards Board recently issued a proposed Accounting Standards Update for Leases (Topic 842). The update addresses related-party arrangements between entities under [...]
Thanks to the cloud and automation, outsourcing has never been a more viable option than it is today. Quite often, outsourcing can be more efficient and less expensive than hiring dedicated [...]
The FASB and IASB have provided standards for properly recognizing revenue in your financials. Using a five step process, companies recognize revenue based on the value and timing of when [...]
Business owners often struggle with determining the optimal legal structure and tax treatment for their business. This video will explain an S-Corp tax election and how it may benefit you and [...]
On August 19, 2022, The IRS Office of Chief Counsel released a memorandum saying that when a taxpayer’s loan is forgiven based upon misrepresentations or omissions, the taxpayer is ineligible to [...]
The Inflation Reduction Act allocated $80 billion to the IRS for hiring additional personnel and improving processes and technology. Learn about how this might affect audits and the time [...]
President Biden announced a plan to extend the pause on student loan repayments and offer student loan forgiveness to millions of borrowers. Under the Student Loan Debt Relief Plan, eligible [...]
