What’s in the Fiscal Responsibility Act?
With a financial crisis averted, let’s take a look at the highlights of the Fiscal Responsibility Act.
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Outlook
News, views, and ideas shaping the future.
Mary Pat Brady
- 2 days ago
- 2 min
Traveling for business this summer? Here’s what you can deduct
Here’s a rundown of the tax deductions you can claim for business travel.
Chris Luckhaupt
- 5 days ago
- 2 min
How to leverage AI in your accounting department
While AI software can’t yet replace humans for complex accounting tasks, here’s how you could put it to the test at your organization.
Jay Rueger
- 7 days ago
- 3 min
Avoid succession drama with a buy-sell agreement
If your business has multiple owners, building a buy-sell agreement into your succession plan is strongly advised. Here’s how these work.
Timm Cambridge
- May 30
- 2 min
Keep these DOs and DON’Ts in mind when deducting business meal and vehicle expenses
Keeping careful business records for meal and vehicle expenses can safeguard your tax deductions. Here are some DOs and DON’Ts.
Avleen Marwah
- May 30
- 3 min
Benefits of a living trust for your estate
You’ve probably heard that you should avoid probate in estate planning. But what does that mean and how is it done?
Lydia Ritze
- May 30
- 2 min
FASB votes to exempt private companies from disaggregation of income statement project
As costs rise, investors & lenders are eyeing profits closely.Here’s the latest info on FASB’s project to up the ante on expense disclosures
Victoria Ma
- May 23
- 2 min
Being a gig worker comes with tax consequences
Many people turn to “gig” work for additional income. Here are the tax consequences of taking on these jobs.
Anna Rodgers
- May 23
- 2 min
The IRS has just announced 2024 amounts for Health Savings Accounts
The IRS has announced the inflation-adjusted amounts for 2024. Here they are, along with the benefits of HSAs.
Nathan Oswald
- May 22
- 2 min
Overview of discontinued operations reporting
In today’s uncertain markets, your business may decide to discontinue unprofitable product lines or business units.
Aaron Charles
- May 17
- 2 min
If you’re hiring independent contractors, make sure they’re properly handled
Many businesses are filling vacant positions & saving money by using independent contractors. How can you keep out of trouble with the IRS?
Bailey Crane
- May 17
- 3 min
4 tax challenges you may encounter if you’re retiring soon
Don’t ignore tax planning after you retire. Here are some of the tax implications of retirement.
Whitney Hurtt
- May 9
- 2 min
Questions you may still have after filing your tax return
Even if you filed your 2022 tax return by the deadline, you may still have questions. Here are some answers to frequently asked questions.
Shawn Filipowicz
- May 8
- 3 min
Use the tax code to make business losses less painful
You may have a net operating loss for your business if your deductions for the year are more than your income. Here are the basic rules.
Karen Keller
- May 8
- 2 min
How to use QuickBooks as a fraud detection tool
Many organizations use QuickBooks for everyday accounting tasks. But did you know this software can also function as a fraud detection tool?
Nick Feldman
- May 4
- 3 min
The IRS clarifies what counts as qualified medical expenses
Can you deduct a gym membership as a medical expense on your tax return? What about supplements? The IRS answered these and other questions
Michelle Grant
- May 1
- 2 min
Education benefits help attract, retain and motivate your employees
An educational assistance program can be a win-win. Here are the basic tax rules.
Linden Bumpass
- May 1
- 2 min
Reporting non-GAAP measures
Warning: Non-GAAP metrics can sometimes mislead investors! That’s why some stakeholders want a formal definition of EBITDA to be added.
Ellyn Strittholt
- Apr 26
- 3 min
Tax news for investors and users of cryptocurrency
The IRS is asking more questions about crypto and digital assets and will soon be learning more info about those who invest in and use them.
Mike Hawkins
- Apr 21
- 4 min