Before the tax-savings wonder that is the health savings account (HSA) was introduced in 2003, it was a generally accepted best practice for any worker who wasn't already collecting Social Security at the age of 65 to go ahead and sign up for Medicare Part...
We passed a major milestone in pandemic economic recovery recently — the closeout of the loan application period for the PPP, which ended May 31. It’s a good time to reflect on the profession’s role in making this historic business relief program a success and...
As professionals advance in accounting and finance careers, soft skills become increasingly important. Whether a professional is looking for a new job or seeking a promotion, focusing on and developing soft skills can help employees be more well-rounded and employable professionals. For professionals looking to improve their...
You filed your 2020 taxes on time but you have also received a letter from the IRS, what went wrong? In most cases, it is nothing you could avoid. You should read your letter carefully but be aware, the IRS's electronic system is not opening the...
With the percentage of elderly people in the United States on the rise, someday soon we may face situations like these: A longtime client calls us in a panic. His mother has suffered a fall, and her doctor says she shouldn't live by herself any more....
Did you recently receive your Social Security Wage and Benefits report? Did you take a close look at it? We assume the money deducted each payday and an equal amount paid in by our employer, or that we as owners pay on our earnings is applied...
If it’s on the internet and in ALL CAPS it must be true! Whether it’s the GUY WHO TURNED $10,000 INTO $20 MILLION or the HOT TECH STOCK THAT WILL SHOCK YOU, you’ve probably seen some version of this fake news dozens of times a day....
Employee theft happens often enough for every business to be aware of. Whether your business is a one-employee medical office or a forty-employee retail outlet, owners should be on alert to the signs of embezzlement and fraud. Absentee business owners should be even more alert...
As CPAs, we are getting calls from clients that are being asked for additional verification from the IRS before refunds are paid. This can not only delay the anticipated refund but cause concern and additional paperwork in processing the verification request. This does not mean...
Small-business owners are often passionate about what they do and take great pride in the value or service their business offers. It’s likely they work long hours and spend ample mental time thinking about operations, employee retention, customer acquisition, human resources, and reducing liability. They often...