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Recent News & Blog

  • Getting started with reports in QuickBooks Online

    You should be running reports in QuickBooks Online on a weekly—if not daily—basis. Here’s what you need to know.

  • Timing counts: Reporting subsequent events

    Major events or transactions — such as a natural disaster, a cyberattack, a regulatory change or the loss of a large business contract — may happen after the reporting period ends but before financial statements are finalized.

  • 2022 Q2 tax calendar: Key deadlines for businesses and other employers

    Here are some of the key tax-related deadlines that apply to businesses and other employers during the second quarter of 2022. Keep in mind that this list isn’t all-inclusive, so there may be additional deadlines that apply to you.

  • Power up your trust with Crummey powers

    The unified gift and estate tax exemption is set at an inflation-adjusted $12.06 million for 2022, up from $11.7 million for 2021. This means that for many families, estate tax liability isn’t a factor.

  • Eyes on related parties

    Business transactions with related parties — such as friends, relatives, parent companies, subsidiaries and affiliated entities — may sometimes happen at above- or below-market rates.

  • The tax rules of renting out a vacation property

    Summer is just around the corner. If you’re fortunate enough to own a vacation home, you may wonder about the tax consequences of renting it out for part of the year.

  • Taking the opposite approach: Ways your business can accelerate taxable income and defer deductions

    Typically, businesses want to delay recognition of taxable income into future years and accelerate deductions into the current year. But when is it prudent to do the opposite? And why would you want to?

  • A beneficiary designation or joint title can override your will

    Inattention to beneficiary designations and jointly titled assets can quickly unravel your estate plan. Suppose, for example, that your will provides for all of your property to be divided equally among your three children.

  • Conflict-of-interest policies: It’s about trust

    According to a 2021 Independent Sector survey, 57% of Americans trust not-for-profits to “do what is right.” Although that’s a majority, being trusted by just over half of respondents is hardly worth celebrating.

  • Establish a tax-favored retirement plan

    If your business doesn’t already have a retirement plan, now might be a good time to take the plunge. Current retirement plan rules allow for significant tax-deductible contributions.

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