Our Blogs: Taxing Times
Welcome to our blog page! We know taxes and financial topics can be confusing at times, so we’re here to help. To keep up with our monthly blogs, be sure to follow us on Facebook and LinkedIn. Have a topic you’d like to have us cover in a blog? To make a suggestion, you can post a comment in our social channels. We’d love to hear from you!
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Environmental, Social, and Governance Reporting in the Accounting Industry
Environmental, social, and governance (ESG) reporting has emerged as a critical aspect of financial management in recent years, reflecting a shift in the accounting industry.
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How to Avoid the IRS’s Dirty Dozen
The IRS's annual "Dirty Dozen" list has returned, shedding light on evolving tax scams that can catch taxpayers, businesses, and tax professionals off guard. This annual campaign is designed to raise awareness about the variety of schemes that can emerge, particularly during tax season, but continue to pose threats throughout the year. The Dirty Dozen serves as a reminder to remain vigilant against these scams, which range from phishing emails to fraudulent tax preparers and beyond.
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Navigating Retirement Planning for Small Businesses
Retirement planning is not just about setting aside funds for a comfortable retirement. It's about laying the groundwork for long-term financial security and peace of mind. For small business owners—who often invest their time, energy, and resources into building their businesses—retirement planning is an essential aspect of ensuring that their hard work pays off in the form of a secure financial future. Here’s how.
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Navigating the Tax Landscape of Employee Equity: A Comprehensive Guide to Stock Options
In the dynamic realm of employee compensation, employee equity is an increasingly popular form of remuneration that grants employees ownership in the company. This non-cash pay comes in various forms, including stock options, restricted shares, and performance-based shares. Understanding the tax implications of these equity options is crucial for both employers and employees.
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New FinCEN Reporting Requirements: Understanding the Upcoming Changes
Financial Crimes Enforcement Network (FinCEN), a U.S. Department of the Treasury bureau, is introducing significant reporting requirements focused on identifying and reporting beneficial owners and individuals involved in the operation, formation, and ownership of a business entity.
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The Ins and Outs of Estate Planning: How to Protect Your Assets
One of the key reasons why estate planning is important is to have control over who receives your assets. Without a clear plan in place, the distribution of your estate may be subject to interstate laws, which vary by jurisdiction. This could result in unintended beneficiaries receiving a portion of your assets or leaving loved ones without the resources they need.
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Tips for Reducing Your Tax Liability: Smart Strategies to Keep More of Your Money
Taxes are an inevitable part of life, but that doesn't mean you can't employ legitimate strategies to reduce your tax liability and keep more of your hard-earned money. By minimizing your taxable income through strategic planning and smart financial moves, you can save a significant amount on your tax bill. In this blog post...
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Differences Between IRS Forms 1120 and 1120-H
Throughout our various engagements with Community Associations, and our ongoing conversations with Board Members and management personnel, some of the most common questions pertain to income taxes. These include:
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Must-Know Accounting Terms for Individuals and Businesses
Whether you are running a small business or just managing your household finances, understanding some key principles and terms of the accounting world can help you make smarter financial decisions.
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