When you acquire assets for your business—whether it's office equipment, machinery, or even vehicles—you're essentially investing in property that will help generate income over time. These assets, however, don’t retain their full value indefinitely. Depreciation is a way to account for the gradual decline in...
In today’s data-driven world, businesses increasingly rely on various types of consumer data to optimize their marketing and advertising efforts. Understanding the nuances of first-party, zero-party, and third-party data is crucial to maintaining customer trust while safeguarding privacy....
We have adopted SafeSend and our clients will be receiving their Engagement Letters via SafeSend....
You may be able to turn an IRS tax payment into a tax refund if you take some year-end actions now. Consult with your tax professional to determine if any of the following actions apply to your situation....
The IRS has issued important reminders regarding health and wellness deductions, emphasizing that many personal health-related expenses do not qualify for tax breaks. If you have an FSA (Flexible Spending Account), HSA (Health Savings Account), or MSA (Medical Savings Account), you cannot deduct or be...
Schedule D is the IRS tax form that reports your realized gains and losses from capital assets — investments and other business interests. You detail the total purchase price of assets, what they were sold for, and whether they were held for long-term (more than...
Per the Internal Revenue Service (IRS), fringe benefits are taxable and must be counted in the recipient's gross wages, unless the item is specifically excluded by law....
A blended family often brings joy — there are more people to love and be loved by. As your family expands, you will want to provide for each child, whether from the previous or current marriage, and create safeguards to avoid future disagreements and potential...
Payroll is a vital function for any organization, encompassing various tasks such as calculating wages, tracking work hours, managing employee benefits, deducting taxes, and ensuring compliance with federal, state, and local regulations. Proper payroll management helps streamline business operations and maintain financial transparency....
In recent years, businesses have faced unprecedented disruption, and one of the most significant shifts has been the changing role of the Chief Financial Officer (CFO). Traditionally seen as the gatekeeper of financial strategy and bottom-line performance, the CFO’s responsibilities have evolved significantly, especially in...
