So what should CPAs be doing now? The wise course is to begin preparing the forgiveness application and stay on top of documentation requirements but also be patient with the process as substantial areas are settled. To help you explain the current situation to business...
Deciding when to claim Social Security retirement benefits is probably one of the most important financial decisions you will make in your lifetime. The stakes are high. If you claim too early, you’re signing on to receive reduced benefit checks for life. But if you get the...
A half-century ago, tax withholding was one of the simpler issues for taxpayers and practitioners. A more mobile society makes state tax withholding more complicated today given the ease of conducting cross-jurisdictional business and the increase in teleworking or remote work arrangements. Meanwhile, the web of...
CPAs have long relied on emails to communicate through all stages of a client relationship. And with CPAs and clients unable to meet in person during the COVID-19 pandemic, emails are more important than ever, and in your business too. Here are nine tips from CPAs...
Charitable remainder unitrusts allow a donor to have a steady income stream while sidestepping capital gains tax. Let's discuss CRUT's in more detail. Basic Setup of a Charitable Remainder Unitrust A charitable remainder unitrust (also called a CRUT) is an estate planning tool that provides income to...
With a home office, taxpayers often are uncertain about the finer points of the requirements for a home office and may be unaware of all the types of business arrangements in which they can claim a deduction, such as by owners of a partnership interest. For...
Change isn’t a state that companies and individuals can just weather and wait out for a season. These days, it’s the constant. But if you can learn to embrace it—and learn to lead through it—you’ll have a huge advantage in the workplace and in leading...
The CARES Act payroll loan program went into effect this week, through the SBA. Our team has been asked to provide a few clients with the information needed to apply. Here are the general basics of the program: You can obtain a loan for up to...
Most Millennials have fairly straightforward finances now, but that's poised to change. As Baby Boomers retire at the rate of 10,000 per day, members of younger generations are stepping forward to succeed them. More than one-third of the U.S. labor force is composed of Millennials,...
When starting a small business, taking the time to set up your recordkeeping system properly, right from the beginning, will save you time and money down the road — and could make the difference between success and failure. Certified public accountants (CPAs) are experts in...