Mitigate The “Great Resignation” With Phased Retirements
According to a recent U.S. Bureau of Labor report, 4.3 million workers quit their jobs in August 2021. That’s 242,000 more than in July. Employers in many industries are struggling
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Are You Ready For The Upcoming Audit Season?
An external audit is less stressful and less intrusive if you anticipate your auditor’s document requests. Auditors typically ask clients to provide similar documents year after year. They’ll accept copies
Tax Affecting & Valuing A Pass-Through Business
Most U.S. businesses operate as so-called “pass-through” entities, including partnerships, limited liability companies, and S corporations. For decades, the IRS and valuation professionals have been at odds over how to
Small Businesses: There Still May Be Time To Reduce Your 2021 Taxes
Don’t let the holiday rush keep you from considering some important steps to reduce your 2021 tax liability. You still have time to execute a few strategies. Purchase AssetsThinking about
Converting A Traditional IRA To A Roth IRA Can Benefit Your Retirement & Estate Plans
Retirement planning and estate planning often go hand in hand: The more you save in retirement, the more you’ll have to pass on to the next generation. If you currently
IRS Announces Adjustments To Key Retirement Plan Limits
In Notice 2021-61, the IRS recently announced 2022 cost-of-living adjustments to dollar limits and thresholds for qualified retirement plans. Here are some highlights: Elective deferrals: The annual limit on elective
Preparing Your Non-Profit For An Outpouring of Support
Contending with a large outpouring of support sounds like a problem any non-profit would embrace. But, in fact, it’s possible to become overwhelmed by supporter interest and donations — particularly
New Digital Asset Reporting Requirements To Be Imposed In Coming Years
The Infrastructure Investment and Jobs Act (IIJA) was signed into law on November 15, 2021. It includes new information reporting requirements that will generally apply to digital asset transactions starting
U.S. House Passes The Build Back Better Act
The U.S. House of Representatives passed a crucial part of President Biden’s agenda by a vote of 220-213 on November 19. The Build Back Better Act (BBBA) includes numerous provisions
Know-Your-Customer Rules Help Prevent Fraud & Offer Additional Advantages
For years, banks, financial service and investment companies, and exporters have been required to follow know-your-customer (KYC) processes to thwart criminal activity. Developed to help certain businesses comply with anti-money