Data Visualization in accounting and auditing has become increasingly important in recent years. Graphs, performance dashboards and other visual aids can help managers, investors and lenders digest complex financial information. Likewise, auditors use visual aids during a financial statement [...]
Deferred taxes are confusing and the accounting rules for reporting these items can seem illogical. Here’s a brief overview to help clarify matters. What are deferred taxes? Companies pay income tax on IRS-defined taxable income. On their Generally Accepted [...]
You have choices when it comes to reporting inventory costs. One popular technique — the last-in, first-out (LIFO) method — assumes that merchandise is sold in the reverse order it was acquired or produced. That is, it allocates the [...]
As California’s Department of Tax and Fee Administration (CDTFA) begins phasing out Limited Access Codes and Express Logins on April 1, 2023, taxpayers will only be able to file timely returns with the CDTFA if they have a valid [...]
Operating as an S corporation may help reduce federal employment taxes for small businesses in the right circumstances. Although S corporations may provide tax advantages over C corporations, there are some potentially costly tax issues that you should assess [...]
CPAs typically report historical financial performance. But sometimes they’re hired to predict how a company will perform in the future. CPAs can help companies make informed decisions about their future performance to reach their financial goals. Prospective reporting options [...]
Under tax law, businesses can generally deduct advertising and marketing expenses that help keep existing customers and bring in new ones. This valuable tax deduction can help businesses cut their taxes. However, in order to be deductible, advertising and [...]
To provide relief for individuals and businesses located in areas affected by the recent winter storms, the IRS and the State of California have postponed the filing and payment deadlines falling on or after January 8, 2023, until October [...]
For people following recent developments in ESG reporting and disclosure, February was a hot time to be in Montreal with the International Sustainability Standards Board (ISSB) agreeing to launch the drafting and formal balloting process for the inaugural IFRS [...]
One of the most common challenges for taxpayers during the first tax season (running from February 15 through April 15) is a too-common delay in getting Schedule K-1 forms. Since April 15 comes around every year, why do we [...]
