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For-profit vs. not-for-profit: Compare and contrast financial reporting goals As the term suggests, for-profit companies are driven primarily by one goal — to maximize profits for their owners. Nonprofits, on the other hand, are [...]
Claiming Bonus Depreciation on Your 2017 Tax Return May be Particularly Beneficial With bonus depreciation, a business can recover the costs of depreciable property more quickly by claiming additional first-year depreciation for qualified assets. [...]
Is This Your Situation: Bestowing Property in Different States In this life, owning property in more than one state — such as a vacation beach house just over the state border from your principal [...]
Charitable Contributions for Farmers How farms can donate fresh food for tax deductions It is common for businesses to receive tax deductions for cash donations, but did you know that the agriculture community can [...]
When It's Time to Take Money Out of Retirement PlansThe term "distributions" refers to money withdrawn from a retirement plan. Generally, traditional IRA and 401(k) account holders are eligible to take penalty-free distributions at age [...]
Is This Your Situation: Figuring Out Why You Need a Business Valuation Business valuations are often essential when you're trying to sell, but there are other reasons for getting one. A business valuation can [...]
Auditing Work in Progress Financial statement auditors spend a lot of time evaluating how their clients report work in progress (WIP) inventory. Here’s why this account warrants special attention and how auditors evaluate whether [...]
Divorce and Taxes in 2018 A guide to healthy tax planning Finances are the last thing you want to worry about when going through a divorce. Splitting assets and filing tax returns can often [...]
How Do 125 Plans and HSAs Work Together? A cafeteria plan is a reimbursement plan governed by IRS Section 125, allowing employees to contribute a certain amount of their gross income to a designated [...]
New Rules for the Individual AMT The alternative minimum tax, or AMT, has long been a thorn in the side of taxpayers who are comfortable but not quite rich. President Trump, who paid a [...]
For-Profit vs. Not-for-Profit Reporting GoalsFebruary 20th, 2018
Claiming Bonus Depreciation on your 2017 Tax ReturnFebruary 14th, 2018
Bestowing Property in Different StatesFebruary 14th, 2018
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