Common accounting pitfalls for startups to avoid
Few entrepreneurs are experts in financial reporting. Don’t let accounting midhaps derail your startup.
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Whitney Hurtt
- 5 days ago
- 2 min
Retirement plan early withdrawals: Make sure you meet the requirements to avoid a penalty
Breaking into a retirement plan before age 59½ may result in a penalty tax. But there are exceptions. Here are the rules.
Wally Khoury
- 7 days ago
- 1 min
Many tax limits affecting businesses have increased for 2023
Here’s how much your employees can contribute to a 401(k) and an HSA this year, as well as other important business tax amounts.
Nathan Oswald
- Jan 28
- 3 min
Auditing accounting estimates
Here's what auditors are looking for & why they've upped the ante on audit procedures related to estimates & the use of specialists.
Bailey Crane
- Jan 23
- 2 min
Forms W-2 and 1099-NEC are due to be filed soon
January 31 is an important deadline for businesses with hired workers. Here’s what’s due.
Troy Skeens
- Jan 17
- 3 min
Tax-saving ways to help pay for college — once your child starts attending
As any parent of a college student knows, higher education is expensive. Fortunately, there are some tax breaks for eligible parents.
Chris Luckhaupt
- Jan 16
- 2 min
5 benefits of outsourcing your accounting needs
Should your organization outsource its accounting needs? Here are some potential advantages to consider.
Avleen Marwah
- Jan 13
- 3 min
Tax-wise ways to save for college
Before you know it, your youngsters will be heading to college. Here are some tax-saving ways to build an education fund.
Chris Luckhaupt
- Jan 9
- 2 min
Employers should be wary of ERC claims that are too good to be true
Have you heard ads on TV telling businesses how they can claim a huge Employee Retention Credit? Is it too good to be true?
Nick Feldman
- Jan 3
- 3 min
The standard business mileage rate is going up in 2023
The price of gas is lower than it was a year ago. How does this affect the amount your business can deduct for business driving in 2023?
Karen Keller
- Dec 30, 2022
- 2 min
FAQs about QuickBooks
What software does your organization use for its accounting needs? Here are answers to FAQs about one of the most popular options: Quickbook
Brian Stautberg
- Dec 28, 2022
- 5 min
Year-end spending package tackles retirement planning, conservation easements
Tucked into the Consolidated Appropriations Act of 2023 is a package of enhanced retirement benefits, otherwise known as the SECURE 2.0 Act.
Jamie Applegate
- Dec 27, 2022
- 2 min
Renting to a relative? Watch out for tax traps
You may want to rent out a property you own to a relative at a discount. If so, be aware of these tax rules.
Gwen DiMeo
- Dec 27, 2022
- 1 min
2020 Payroll Tax Deferral Installment due December 31
Under the CARES Act, employers were allowed to defer payment of certain 2020 payroll taxes until 2021 and 2022. The second half is due soon.
Timm Cambridge
- Dec 13, 2022
- 2 min
Selling stock by year-end? Watch out for the wash sale rule
Selling losing stock may reduce your 2022 tax bill. But beware of the “wash sale” rule.
Mike Hawkins
- Dec 12, 2022
- 2 min
Do you qualify for the QBI deduction? And can you do anything by year-end to help qualify?
Owners of pass-through businesses may be able to save tax with the valuable QBI deduction by taking certain steps at year-end.
Lydia Ritze
- Dec 9, 2022
- 3 min
How to report software costs
Accounting for software costs is a gray area in financial reporting. Fortunately, the FASB’s working on a project to simplify matters.
Sarah Dmytryk
- Dec 7, 2022
- 2 min
Does your family business’s succession plan include estate planning strategies?
Are you a family business owner who needs to work on your succession plan? Consider whether, and when, to give up control of the company.
Ellyn Strittholt
- Dec 6, 2022
- 2 min
Answers to your questions about taking withdrawals from IRAs
You may spend years building up your traditional IRA but at some time you must start taking withdrawals. Here are answers to FAQs about RMDs
Mary Pat Brady
- Dec 5, 2022
- 2 min
Choosing a business entity? Here are the pros and cons of a C corporation
You may wonder if you should operate as a C corporation or another entity. Here’s a summary of what will happen if you choose C corporation
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