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Why revenue matters in an audit
Posted on: Friday, November 16, 2018
For many companies, revenue is one of the largest financial statement accounts. It’s also highly susceptible to financial misstatement. When it comes to revenue, auditors customarily watch for fictitious transactions and premature recognition ploys. Here’s a look at some examples of critical issues that auditors may target to prevent and detect improper revenue recognition tactics.
» Read more3 ways to get more from your marketing dollars
Posted on: Wednesday, November 14, 2018
A strong economy leads some company owners to cut back on marketing. Why spend the money if business is so good? Others see it differently — a robust economy means more sales opportunities, so pouring dollars into marketing is the way to go.
» Read moreMutual funds: Handle with care at year end
Posted on: Wednesday, November 14, 2018
As we approach the end of 2018, it’s a good idea to review the mutual fund holdings in your taxable accounts and take steps to avoid potential tax traps. Here are some tips. Avoid surprise capital gains
» Read moreOffering COBRA to a terminated employee’s domestic partner
Posted on: Friday, November 9, 2018
Many employers offer coverage to employees’ domestic partners under their health care plans. If your organization does so, you need to determine what rights domestic partners have regarding COBRA insurance. General principles
» Read moreReview and revise your estate plan to reflect life changes during the past year
Posted on: Friday, November 9, 2018
Your estate plan shouldn’t be a static document. It needs to change as your life changes. Year end is the perfect time to check whether any life events have taken place in the past 12 months or so that affect your estate plan. And the plan should be reviewed periodically anyway to ensure that it still meets your main objectives and is up to date.
» Read moreTime for NQDC plan deferral elections
Posted on: Thursday, November 8, 2018
If you’re an executive or other key employee, your employer may offer you a nonqualified deferred compensation (NQDC) plan. As the name suggests, NQDC plans pay employees in the future for services currently performed. The plans allow deferral of the income tax associated with the compensation.
» Read moreTaking the hybrid approach to cloud computing
Posted on: Wednesday, November 7, 2018
For several years now, cloud computing has been touted as the perfect way for companies large and small to meet their software and data storage needs. But, when it comes to choosing and deploying a solution, one size doesn’t fit all.
» Read moreBuy business assets before year end to reduce your 2018 tax liability
Posted on: Tuesday, November 6, 2018
The Tax Cuts and Jobs Act (TCJA) has enhanced two depreciation-related breaks that are popular year-end tax planning tools for businesses. To take advantage of these breaks, you must purchase qualifying assets and place them in service by the end of the tax year. That means there’s still time to reduce your 2018 tax liability with these breaks, but you need to act soon.
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