6 steps to easing employees’ fears about innovation
Business owners often find the greatest obstacle to innovation isn’t the change itself, but employees’ resistance to it. Their hesitation or outright defiance is frequently driven by fear.
The “kiddie tax” hurts families more than ever
Many people wonder how they can save taxes by transferring assets into their children’s names. This tax strategy is called income shifting. It can be beneficial but with complexities. Contact the CPAs and tax advisors at SEK for more information.
How QuickBooks Online tracks products and services, part 1
What products and services does your company sell? Do you have enough to fulfill existing and future orders? QuickBooks Online can tell you.
How to account for collaborative agreements
Today, many companies share research or technology to develop new products. For example, manufacturers might enter into a joint venture to conduct scientific research to design a new medical device.
Dangerous donations: Should your nonprofit risk bad publicity?
No not-for-profit wants to turn down donations — particularly if they’re large. Nevertheless, you need to consider the source of gifts and potentially refuse those attached to controversial donors.
Estates now have an additional three years to file for a portability election
Portability allows a surviving spouse to apply a deceased spouse’s unused federal gift and estate tax exemption amount toward his or her own transfers during life or at death.
Weathering the storm of rising inflation
Like a slowly gathering storm, inflation has gone from dark clouds on the horizon to a noticeable downpour on both the U.S. and global economies. Is it time for business owners to panic?
Virginia taypayers: New electronic payment requirement for some individuals
A recent legislative change requires Virginia taxpayers to submit all of their income tax payments electronically if:
For Maryland businesses, Personal Property Exemption raised from $2,500 TO $20,000
A new law has raised the exemption for personal property assessment for all Maryland businesses from $2,500 to $20,000. HB268 will save
Last call for lease accounting
The updated lease accounting standard is currently in effect for private companies. After several postponements during the pandemic, the Financial Accounting Standards Board (FASB) voted unanimously to move forward with the changes.