Many economists are predicting that the US economy will experience a downturn, if not a recession, in 2023. A downturn can lead to job loss, reduced income, and financial insecurity. While it's impossible to predict the future with certainty, there are steps you can take to protect your finances during a downturn.
Many business owners want to incentivize and reward employees by tying their compensation to the company's performance. One way to do this is through stock options, but using stock appreciation rights might be a better solution.
As the 2022 year is concluding, it is time to begin once again thinking about the upcoming tax filing season. This process doesn’t have to be daunting; our tax advisors are here to assist every step of the way. While there are constant changes to tax laws and filing thresholds, especially due to the pandemic, we want to alert you to some of the larger ones occurring for the 2022 tax year. This is by no means an exhaustive list, but some key items to consider for end of year tax planning.
Thanks to the cloud and automation, outsourcing has never been a more viable option than it is today. Quite often, outsourcing can be more efficient and less expensive than hiring dedicated staff. In this video, we'll cover the benefits of outsourcing your accounting.
The FASB and IASB have provided standards for properly recognizing revenue in your financials. Using a five step process, companies recognize revenue based on the value and timing of when control of the goods and services are transferred to the customer. Learn about the standards and how to properly recognize revenue for your company.
On Oct. 19, 2022 the IRS issued a news release warning employers to be wary of third parties who have ramped up campaigns to try and get employers to claim the CARES Act Employee Retention Tax Credit (ERTC) when they may not actually qualify.
Business owners often struggle with determining the optimal legal structure and tax treatment for their business. This video will explain an S-Corp tax election and how it may benefit you and your business.
The Inflation Reduction Act allocated $80 billion to the IRS for hiring additional personnel and improving processes and technology. Learn how this might affect future audit activity and how much time the IRS has to audit you.
As attack methods become more sophisticated and widespread, no organization is immune to suffering a cybersecurity breach. The key to protecting your business is developing controls to make you less of a target and limit potential damage, as well as implementing a comprehensive strategy to react if you fall victim to an attack.