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Using analytical procedures in an audit provides many benefits
Analytical procedures help test financial statement relationships and balances. Here’s why everyone wins with audit analytics.
Does your business have to begin collecting sales tax on all out-of-state online sales?
In late June, the U.S. Supreme Court expanded the ability of states to collect sales tax from out-of-state online retailers. If your business makes online sales to out-of-state customers, here’s what you need to know.
Don’t let collaborative arrangements cause financial reporting headaches
If you’re frustrated by the vague rules for reporting collaborative arrangements on your income statement, you’re not alone. Fortunately, relief from the FASB soon may be on its way.
Saving tax on restricted stock awards with the Sec. 83(b) election
Have you recently been awarded restricted stock or do you expect to be awarded such stock this year? The Section 83(b) election can be beneficial if the income at the grant date is negligible or the stock is likely to appreciate significantly. Here’s why.
Putting your child on your business’s payroll for the summer may make more tax sense than ever
Business owners with children who are students in their teens or early 20s can save taxes by hiring them for the summer. Learn more.
Don’t let fraud tear your family business apart
To prevent, find and pursue prosecution of occupational fraud, family businesses need to be just as vigilant as nonfamily businesses while overcoming some unique obstacles.
Could a long-term deal ease your succession planning woes?
No one ever said succession planning would be easy. If you’re starting to think about retirement and are struggling with your succession plan, consider the benefits of a long-term deal to gradually transition ownership to an outside buyer.
Factor in state and local taxes when deciding where to live in retirement
Trying to decide where to retire? To avoid unpleasant tax surprises, it’s critical to consider state and local income, property, sales and estate taxes.
Does your nonprofit properly report donations?
Do Forms 8282 and 8283 sound familiar? If not, your nonprofit may be neglecting to file required forms about donations or to obtain required forms from donors. Learn more so that your organization can avoid penalties.
It’s time for a midyear checkup!
How often does your company issue financial reports? Monitoring performance periodically before year end can pay off. But there are potential shortcomings to watch out for in your interim reports.
Procurement procedures: Is your nonprofit really in compliance?
Failure to comply with revised procurement standards could result in your nonprofit’s loss of federal funding. We summarize the rules and provide tips for clearing various purchasing hurdles.
Your original will: Does your family know where to locate it?
A will is a cornerstone of an estate plan. If your family doesn’t know where you keep the original document, a court might administer your estate as if you’d died without a will, producing undesirable results.