Reduce The S Corporation Last In, First Out (LIFO) Recapture Tax
Are you considering converting your C corporation to an S corporation? If so, be aware there may be tax implications if you’ve been using the LIFO inventory method. That’s because
Are you considering converting your C corporation to an S corporation? If so, be aware there may be tax implications if you’ve been using the LIFO inventory method. That’s because
The U.S. Generally Accepted Accounting Principles (GAAP) has talked about converging with the International Financial Reporting Standards (IFRS) for quite some time. However, the formal convergence project lost steam around
Most employers are well aware of their responsibility to withhold employment taxes. This includes Social Security, Medicare, and income taxes — from employees’ compensation. Additionally, Employers need to report compensation
In the event they’re incapacitated and unable to make decisions themselves, many people include health care powers of attorney or advance directives in their estate plans. And although it’s less
It might sound like the lingo of air traffic controllers — inbound vs. outbound. These sales strategies, and their associated challenges, must be explored by all business types. Inbound sales
Consider gaming for a 2023 fundraiser activity! These could include bingo, poker, raffles, and even casino-type games. These kinds of activities can be a great way to engage supporters while
To achieve your retirement goals with reduced tax obligations, you may chose defer money in a tax-advantaged retirement plan. Contributing to a 401(k) or Roth 401(k), if offered by your
The updated lease accounting standard is currently in effect for private companies, including many financial institutions. After postponing several times during the pandemic, the Financial Accounting Standards Board (FASB) voted
Key tax-related deadlines affecting businesses and other employers during the first quarter of 2023 are around the corner. While this list isn’t all-inclusive, here are some deadlines to keep in
According to the biannual Association of Certified Fraud Examiners “Report to the Nations”, the longer fraud schemes remain undetected, the greater the losses for the victimized organizations. The 2022 report