There is good news about the Section 179 (Sec. 179) depreciation deduction for business property. The election has long provided a tax windfall to businesses, enabling them to claim immediate deductions for qualified assets, instead of taking depreciation deductions over time. And it was increased...
Background checks do not inoculate companies against occupational fraud and other criminal acts by employees. After all, many thieves have never been caught and, therefore, have no criminal background. But conducting checks on potential workers remains critical. If you are hiring an accounting staffer, for example,...
Many employers operate in locations where employees can bike to work. If you have employees who do so, you might wonder whether you can still reimburse bicycle commuting expenses as a fringe benefit, given the tax law changes in recent years. The short answer is...
Every year, research firm Audit Analytics publishes a study about financial restatement trends. In 2018, the number of public companies that amended their annual reports increased by 18 percent. Many of these amendments were due to minor technical issues, however. Of the 400 public companies that...
Accounting software typically sells itself as much more than simple spreadsheet or ledger. The products tend to pride themselves on being comprehensive accounting information systems — depending on the price point, of course. So, is your accounting software living up to the hype? If not, there...
Non-profit organizations do not lose as much to occupational fraud as for-profit businesses do. According to the Association of Certified Fraud Examiners’ 2018 Report to the Nations, non-profits lost a median amount of $75,000 during the 21-month study period, compared with $164,000 for private for-profit...
If you are a volunteer who works for charity, you may be entitled to some tax breaks if you itemize deductions on your tax return. Unfortunately, they may not amount to as much as you think your generosity is worth. Because donations to charity of cash...
It is a federal crime to steal trade secrets, but that does not stop thieves from successfully making off with billions of dollars in intellectual property (IP) annually. Companies may work hard to prevent outsiders from infiltrating their organizations, yet the greater danger is generally...
The Securities and Exchange Commission (SEC) does not monitor just publicly traded companies. It also looks at the dealings of some private companies, often to the surprise of their owners and executives. Reasons for SEC scrutiny The SEC’s mission is to protect the public as well as...
Employers grapple with many competing goals when it comes to compensation and pay raises. You probably want to reward specific employees who have made contributions to the organization and try to ensure your salaries are in line with what competitors are paying. But you also...