If you donate valuable items to charity, you may be required to get an appraisal. The IRS requires donors and charitable organizations to supply certain information to prove their right […]
Why An LLC Might Be The Best Choice Of Entity For Your Business
The business entity you choose can affect your taxes, your personal liability and other issues. A limited liability company (LLC) is somewhat of a hybrid entity in that it can […]
How External Confirmations Are Used During An Audit
Auditors commonly use confirmations to verify such items as cash, accounts receivable, accounts payable, employee benefit plans and pending litigation. Under U.S. Generally Accepted Auditing Standards, an external confirmation is […]
Provide Employee Parking? Here’s What The IRS Wants To Know
Many offices, plants and other business facilities are once again filled with real, live people. And those hard-working employees need somewhere to park. If your company provides parking as a […]
Last Call For Lease Accounting
The updated lease accounting standard is currently in effect for private companies. After several postponements during the pandemic, the Financial Accounting Standards Board (FASB) voted unanimously to move forward with […]
Take A Balanced Approach To Retirement And Estate Planning Using A Split Annuity
If you’re approaching retirement or have already retired, one of the biggest challenges is balancing the need to maintain your standard of living with your desire to preserve as much […]
Thinking about converting your home into a rental property?
In some cases, homeowners decide to move to new residences, but keep their present homes and rent them out. If you’re thinking of doing this, you’re probably aware of the […]
Proper Accounting For Change Orders Makes All The Difference
If there’s any aspect of the construction business that gives you mixed feelings, it’s probably the humble — or in some cases not-so-humble — change order. On the one hand, […]
NO MORE DRAMA: Build stability and value into your succession plan
You need look no further than the hit TV show “Succession” to see how lack of a clear succession plan can tear a family — and business — asunder. Although […]
What Is Bonding Capacity, Really?
Many construction companies rely on their ability to procure surety bonds to win projects. Owners of those jobs — government agencies in particular — often require bonding to guarantee that […]