The Importance of Auditing Auditing typically refers to an objective review of a company’s financial statements, which consist of the cash flow statement, the income statement, and the balance sheet. Audits are evaluations that analyze the...
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Required Minimum Distributions (RMD) are required taxable distributions from qualified retirement plans and are commonly associated with traditional IRAs, but they also apply to 401(k)s and SEP IRAs. The tax code does not allow taxpayers to...
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The recent Hurricane Ian impacted much of the southeast United States. As a result, it is good to know the general tax rules related to disaster victims. Below, we look at several tax topics for disaster area victims. 1. Tax Returns and Filings...
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Deepfake technology utilizes machine learning and artificial intelligence (AI) to manipulate or create synthetic audio, video, and images that appear authentic. Deepfakes are commonly featured in entertainment and politics to spread false...
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Released once a month, every quarter, or once per year, an income statement reports revenue, expenses, and net earnings or losses of a company for a given period. A company’s net revenue is calculated by subtracting allowances for...
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Earnings is all about how much you keep after taxes – not what you bring in from your job, a business, or investments. While it is always great to see fabulous investment gains, the only financial metric that really matters is what is in your...
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Year-end tax planning is seldom a simple proposition. With this in mind, we have prepared a comprehensive 2022 Year-End Tax Planning Letter. For your convenience, there are two letters, one for individuals and one for businesses: Individual Tax...
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Fall is here and so are many of the holidays we love. Whether it’s Halloween, Thanksgiving, or the December holidays, here are some fail-safe things you can do to make sure everyone shows up and has a good time. Throw a Potluck One of the...
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Have you seen those ads on television or received email solicitations promoting a large tax credit? The large tax credit they are referring to is the employee retention tax credit (ERTC). The ERTC is a government-sponsored program to keep workers...
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