What is ‘Fair Value’ in an Accounting Context?
In recent years, the accounting rules for certain balance sheet items have transitioned from historical cost to ‘fair value.’ Examples of assets that may currently be reported at fair value
In recent years, the accounting rules for certain balance sheet items have transitioned from historical cost to ‘fair value.’ Examples of assets that may currently be reported at fair value
If your business is organized as a sole proprietorship or as a wholly owned limited liability company (LLC), you are subject to both income tax and self-employment tax. There may
Although auto sales plunged at the start of the COVID-19 pandemic, they have since rebounded. In fact, some dealerships are reporting record sales in 2021. However, problems remain — including
Even after your 2020 tax return has been successfully filed with the IRS, you may still have some questions about the return. Here are brief answers to three questions that
As the COVID-19 pandemic finally seems to be fading in the United States, your non-profit organization may be making plans for its post-pandemic future. Is a merger with another non-profit
The days of the Rolodex are long gone. To connect with customers and prospects, many businesses now rely on customer relationship management (CRM) software. These solutions give users easy access
One benefit of the current federal gift and estate tax exemption amount ($11.7 million in 2021) is that it allows most people to focus their estate planning efforts on asset
Should employers be concerned if their retirement plan participants withdraw money from their accounts for non-retirement purposes? A recent report from the Joint Committee on Taxation (JCT) says yes and
Are you wondering whether alternative energy technologies can help you manage energy costs in your business? If so, there is a valuable federal income tax benefit (the business energy credit)
The COVID-19 pandemic has put enormous pressure on global supply chains. As companies struggle to obtain the goods and materials they need, they may not pay as much attention to