The American Institute of CPAs (AICPA) has clarified its guidance on pro forma compilations. Here is an explanation of when the new Statement on Standards for Accounting and Review Services (SSARS) applies and what your CPA now expects from you when performing these nontraditional attestation...
Adequate insurance coverage is, in many cases, a legal requirement for a business. Even if it is not for your company, proper coverage remains a risk management imperative. However, that does not mean you have to take high insurance costs sitting down. There are a wide...
The tax consequences of the sale of an investment, as well as your net return, can be affected by a variety of factors. You are probably focused on factors such as how much you paid for the investment vs. how much you are selling it...
Do you procrastinate when it comes to closing your books and delivering year-end financial statements? Lenders and investors may think the worst if a company’s financial statements are not submitted in a timely manner. Here are three assumptions your stakeholders could make when your financial...
One of #TeamKPM's core values is 'Public Spirit' - committed to making tomorrow better than today. In honor of this, #KPMCPAs organized a 'Wellness Week' for our professionals! To help refocus and re-energize everyone, there were health risk assessments, a self defense class at ATA...
The second-best investment you can make is paying off high interest rate debt. That could come after you have contributed enough to your 401(k) to get a full match from your employer. What should come next? If you have no expensive debt to pay down...
When it comes time to transition your role as business owner to someone else, you will face many changes. One of them is becoming a mentor. As such, you will have to communicate clearly, show some patience, and have a clear conception of what you...
With school letting out, you might be focused on summer plans for your children or grandchildren. But the end of the school year also is a good time to think about Coverdell ESAs — especially if the children are in grade school or younger. One major...
Individuals: If you are not paying your 2017 income tax through withholding (or will not pay enough tax during the year that way), pay the second installment of your 2017 estimated tax. If you are a U.S. citizen or resident alien living and working (or on...
By midyear, most businesses that follow U.S. Generally Accepted Accounting Principles (GAAP) have issued their year-end financial statements. But, how many have actually used them to improve their business operations in the future? Producing financial statements is more than a matter of compliance — owners...