If, like many people, your traditional individual retirement account (IRA) holds a mixture of deductible (after-tax) and nondeductible (pretax) contributions, it is important to track your contributions carefully to avoid double taxation of distributions. Why? Because the IRS treats distributions as a blend of pretax...
If your company comes up over budget year after year, you may want to consider cost management. This is a formalized, systematic review of operations and resources with the stated goal of reducing costs at every level and controlling them going forward. As part of...
While you were celebrating the holidays, you may not have noticed that Congress passed a law with a variety of provisions that provide tax relief to businesses and employers. The Further Consolidated Appropriations Act, 2020 was signed into law on December 20, 2019. It makes...
If your business solicits bids for goods or service contracts, there is a risk that employees will solicit or accept kickbacks to favor certain vendors. Or, they might steer a bid to a vendor based on their personal ties to the company’s owner or employees....
For many employers, the struggle to find and hire good workers is real. So real, in fact, that some employers are not looking only at new faces, they are keeping in touch with familiar ones as well. Sure, you could add an ex-employee’s name to a...
When the Financial Accounting Standards Board (FASB) updated its rules for recognizing revenue from contracts in 2014, it only added to the confusion that non-profits already had about accounting for grants and similar contracts. Fortunately, last year, the FASB provided some much-needed clarification with Accounting Standards...
The Tax Cuts and Jobs Act created a new program to encourage investment in economically distressed areas through generous tax incentives. The Qualified Opportunity Zone (QOZ) program relies on investments in Qualified Opportunity Funds (QOFs) — funds that can provide wealthy taxpayers with new avenues...
The end of one year and the beginning of the next is a great opportunity for reflection and planning. You have 12 months to look back on and another 12 ahead to look forward to. Here are five ways to strengthen your business for the...
If you think SEO is something only for-profit businesses need to worry about, think again. The Google rankings of your non-profit’s website can make a tremendous difference in the donations and other support you receive. Cracking Google metrics Google, of course, is not the only search engine...
As part of a year-end budget bill, Congress just passed a package of tax provisions that will provide savings for some taxpayers. The White House has announced that President Trump will sign the Further Consolidated Appropriations Act of 2020 into law. It also includes a...