2018 – 06/01 – Don’t let collaborative arrangements cause financial reporting headaches
Businesses often enter into so-called “collaborative arrangements” when embarking on a major project, such as designing a new medical device or producing a film. However, the rules for reporting shared costs and revenue under U.S. GAAP are unclear, and the…
Read more2018 – 12/26 – You may be able to save more for retirement in 2019
Retirement plan contribution limits are indexed for inflation, and most have increased for 2019. So you may have opportunities to increase your retirement savings. Limits for 401(k)s, SIMPLEs and IRAs increase by $500, to $19,000, $13,000 and $6,000, respectively. Catch-up…
Read more2018 – 12/17 – 6 last-minute tax moves for your business
Tax planning is a year-round activity, but there are still some year-end strategies you can use to lower your 2018 tax bill. Here are six last-minute tax moves business owners should consider: 1) Postpone invoices. 2) Prepay expenses. 3) Buy…
Read more2018 – 12/11 – Year-end tax and financial to-do list for individuals
With 2019 arriving here soon, there are several tax and financial to-dos you should address before 2018 ends. For example: Incur qualifying health care Flexible Spending Account expenses by Dec. 31 to use up these funds or you’ll potentially lose…
Read more2018 – 12/14 – How to prepare for year-end physical inventory counts
It’s time for calendar-year entities to conduct year-end physical inventory counts. This activity is more than a compliance chore. Proactive companies see it as an opportunity to improve operational efficiency. Are you ready to start counting? Consider ordering prenumbered tags,…
Read more2018 – 12/11 – Year-end tax and financial to-do list for individuals
With 2019 arriving here soon, there are several tax and financial to-dos you should address before 2018 ends. For example: Incur qualifying health care Flexible Spending Account expenses by Dec. 31 to use up these funds or you’ll potentially lose…
Read more2018 – 12/07 – Accounting for overhead costs
Accurate overhead allocations are essential to understanding financial performance and making informed pricing decisions. But many business owners and their internal accounting teams are uncertain how to estimate overhead rates to appropriately allocate these indirect costs to their products and…
Read more2018 – 11/26 – When holiday gifts and parties are deductible or taxable
It’s a great time of year for businesses to show their appreciation for employees and customers by giving them gifts or hosting holiday parties. Gifts to customers are generally deductible up to $25 per recipient per year. De minimis, noncash…
Read more2018 – 12/04 – Check deductibility before making year-end charitable gifts
With tax law changes going into effect in 2018 and many rules applying to the charitable deduction, it’s a good idea to check deductibility before making year-end donations. First, total up your potential itemized deductions for the year, including the…
Read more2018 – 12/03 – 2019 Q1 tax calendar: Key deadlines for businesses and other employers
Here are a few key tax-related deadlines for businesses during Q1 of 2019. JAN. 31: File 2018 Forms W-2 with the Social Security Administration and provide copies to employees. Also provide copies of 2018 Forms 1099-MISC to recipients and, if…
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