Remember to use up your flexible spending account money
Do you have a tax-saving flexible spending account (FSA) with your employer to help pay for health or dependent care expenses? As the end of 2021 nears, there are some rules and reminders to keep in mind. An account for health expenses
How to assess fraud risks today
Auditing standards require external auditors to consider potential fraud risks by watching out for conditions that provide the opportunity to commit fraud. Unfortunately, conditions during the COVID-19 pandemic may have increased your company’s fraud risks.
Businesses can show appreciation — and gain tax breaks — with holiday gifts and parties
With Thanksgiving just around the corner, the holiday season will soon be here. At this time of year, your business may want to show its gratitude to employees and customers by giving them gifts or hosting holiday parties again after a year of forgoing them due to the pandemic.
Consider all the angles of joint ownership
Estate planners generally tout the virtues of owning property jointly — and with good reason. Joint ownership offers several advantages for surviving family members. But this shouldn’t be viewed as a panacea for every estate planning concern. You must also be aware of all the implications.
Established nonprofits must continue to build and grow
If your not-for-profit was well-established before 2020, it has probably weathered the pandemic and economic stress of the past year-and-a-half better than younger organizations.
2022 Cost of Living Adjustments
The IRS recently released cost of living adjustments for retirement plans and other retirement-related items for 2022. DOWNLOAD THE 2022 LIMITS
Many factors are involved when choosing a business entity
Are you planning to launch a business or thinking about changing your business entity? If so, you need to determine which entity will work best for you — a C corporation or a pass-through entity such as a sole-proprietorship, partnership, limited liability company (LLC) or S corporation.
FASB offers practical expedient for private companies that issue share-based awards
On October 25, the Financial Accounting Standards Board (FASB) issued a simpler accounting option that will enable private companies to more easily measure certain types of shares they provide to both employees and nonemployees as part of compensation awards. Here are the details.
Do you have a will?
The need for a will as a key component of your estate plan may seem obvious, but you’d be surprised by the number of people — even affluent individuals — who don’t have one.
Timothy E. Peters, CPA, CFF, CGMA Earns Certified in Financial Forensics Credential
FOR IMMEDIATE RELEASENovember 5, 2021