Individuals: If you are not paying your 2019 income tax through withholding (or will not pay enough tax during the year that way), pay the second installment of your 2019 estimated tax. If you are a U.S. citizen or resident alien living and working (or on...
The standard for valuing certain assets and liabilities under U.S. Generally Accepted Accounting Principles is ‘fair value.’ This differs from other valuation standards that may apply when valuing a security or business interest in a litigation or mergers and acquisitions (M&A) setting. FASB guidance The Financial Accounting...
More and more employers are contributing dollars toward the cost of health club memberships for employees. Some are even building their own on-site fitness centers. If your organization is considering either approach, you might wonder: are health club memberships or on-site fitness centers subject to...
The IRS recently published final regulations regarding Section 199A of the IRC. That section, created by the Tax Cuts and Jobs Act of 2017, offers a 20 percent deduction for qualified business income (QBI). This deduction may be available to non-C-corporation taxpayers such as sole...
The IRS just released its audit statistics for the 2018 fiscal year, and fewer taxpayers had their returns examined as compared with prior years. However, even though a small percentage of tax returns are being chosen for audit these days, that will be little consolation...
One of the governing principles of the employee/employer relationship is that employees have a fiduciary duty to act in their employer’s interests. An employee’s undisclosed conflict of interest can be a serious breach of this duty. In fact, when conflicts of interest exist, companies often...
Employee incentive plans can be among the most meaningful benefits that an employer can offer. This is because participants receive awards tied directly to their professional accomplishments or their organization’s success. In addition, in a robust economy, the right incentive plan can serve as an excellent...
CPAs typically report historical financial performance, but sometimes they are hired to predict how a company will perform in the future. Prospective reporting options There are three types of reports to choose from when predicting future performance: These prospective statements present an entity’s expected financial position, results...
Your non-profit’s ability to pursue its mission depends greatly on its financial health and integrity. If your non-profit is growing and your executives are struggling to juggle financial responsibilities, it may be time to hire a chief financial officer (CFO). Core responsibilities Generally, the non-profit CFO (also...
Few businesses today can afford to let potential buyers slip through the cracks. Customer relationship management (CRM) software can help you build long-term relationships with those most likely to buy your products or services. But to maximize your return on investment in one of these...