4 ways to prepare for next year’s audit

It’s time to prepare for next year’s audit. Are you ready for fieldwork to begin?

Accounting for M&As

Here’s an overview of M&A accounting rules to help minimize the guesswork (and rework) related to purchase price allocations.

Tips for a faster month-end close

Closing the books at month end is a dreaded chore at many companies. Here’s how to simplify the process at your company.

Shareholder advances: Debt or equity?

Times are tough for many companies. If you need to advance your business money to make ends meet, how should the transaction be reported on your financial statements?

2024 Cost-of-Living Adjustment Numbers Released

Take these 2024 cost-of-living adjustments into consideration as you work on your year-end tax planning.

Take action now to reduce your 2023 income tax bill

Concerned about your 2023 tax liability? Consider these year-end tax planning strategies.

5 Strategies to Cut Your Company’s 2023 Tax Bill

Making time for year-end tax planning time now may prove beneficial come tax-filing time next year.

IRS offers a withdrawal option to businesses that claimed ERTCs

The IRS has created a path that businesses can use to withdraw unprocessed ERTC claims if they determine the claims are invalid.

Federal Tax News for Individuals

1. Making Cash Gifts in 2023 and 2024 2. How Life Affects Taxes 3. Last Chance to Minimize Your 2023 Tax Bill 4. Appointing Someone to Handle Your Tax Matters 5. 2024 Social Security Figures

FAQs About Self Employment Tax

Self-employment (SE) tax can be a major expense for small business owners — and many self-employed individuals are blindsided by this tax when they file their first tax return with SE income. This article provides answers to questions you may have regarding SE tax, including how much it is, who owes it, whether it's deductible, how to pay it and more.

Update on New Retirement Account Catch-Up Contribution Rules

Catch-up contributions allow people age 50 and older to turbo-charge their retirement savings. Account holders should be aware that recent legislation has changed the federal income tax rules for making catch-up contributions to employer-sponsored retirement plans. The good news is that the changes won't go into effect until January 1, 2026. Here are the details.

Federal Tax News for Businesses

1. Give Your New Business a Strong Start 2. A Business Emergency Plan is Critical 3. Handling Cash Payments over $10,000 4. Missing and Incorrect Taxpayer ID Numbers 5. Take Payroll Responsibilities Seriously!