Home sales: How to determine your “basis”
The housing market in many parts of the country is strong this spring. If you’re buying or selling a home, you should know how to determine >>
News
Receivables may be a source of cash in tough times
Many companies are continuing to struggle financially during the COVID-19 pandemic. If cash is tight, what can your business do to shorten its cash cycle? The >>
Liabilities for unused time off mount as pandemic lingers
During the pandemic, many employees have postponed using their allotted paid time off until COVID-related restrictions are lifted and safety concerns subside. This situation has >>
Why it’s important to meet the tax return filing and payment deadlines
The May 17 deadline for filing your 2020 individual tax return is coming up. It’s important to file and pay your tax return on time to >>
Protect your organization’s fragile tax-exempt status
One of the most important differences between not-for-profits and for-profit businesses is that nonprofits are tax-exempt. But your tax-exempt status is fragile and can be revoked >>
Business Deductions
A recent tax law provides a 100% business deduction (up from 50%) for food and beverage expenses in 2021 and 2022 as long as they’re “provided >>
Emergency Paid Sick Leave: What employers need to know.
As the COVID-19 pandemic continues, new federal law targets help to American businesses. President Joe Biden signed the American Rescue Plan Act into law on March >>
Will you be able to claim a home office deduction while working from home due to Covid-19?
With many taxpayers working from home due to COVID-19, you may be wondering about the possibility of claiming home office deductions on your tax return. Unfortunately, >>
Making sense of your statement of cash flows
The statement of cash flows essentially tells you about cash entering and leaving a business. It’s arguably the most misunderstood and underappreciated part of a company’s >>
Didn’t contribute to an IRA last year? There still may be time
If you’re getting ready to file your 2020 tax return, and your tax bill is higher than you’d like, there might still be an opportunity to >>
