Be prepared for 401(k) casualty loss hardship distribution requests
July 2, 2021
Employers: If you sponsor a 401(k) plan, don’t be surprised if a participant requests a hardship distribution to repair home damage. Here’s what you’ll need to do.
Auditing WIP
July 2, 2021
Accounting estimates attract special attention from auditors. Work in progress is a common example of an account that’s based on management’s estimates. Here’s a closer look.
Recordkeeping DOs and DON’Ts for business meal and vehicle expenses
June 7, 2021
Keeping meticulous business records for meal and vehicle expenses can protect your tax deductions. Here are some DOs and DON’Ts.
An S corporation could cut your self-employment tax
May 17, 2021
Business owners that operate as an S corporation are subject to income tax, but not self-employment tax, on their share of the entity’s income. Here’s how the rules work.
Help ensure the IRS doesn’t reclassify independent contractors as employees
May 10, 2021
Employee or independent contractor? That’s the question businesses ask when they bring on certain workers. Here are the basic rules to help keep you out of tax trouble.
Receivables may be a source of cash in tough times
May 7, 2021
Is your business having trouble getting customers to pay on time? Here are five effective ways to maximize collections and minimize write-offs.
