New option for unused funds in a 529 college savings plan
February 29, 2024
It’s not unusual for parents to end up with unused funds in their children’s 529 college savings plans. There’s a new option that allows them to transfer unused funds in a 529 plan to a Roth IRA. Here are the details.
Tax-wise ways to take cash from your corporation while avoiding dividend treatment
February 27, 2024
As you may know, dividends paid out by a corporation are taxable to shareholders and can’t be deducted by the business. But there may be ways to get cash out of your closely held corporation without dividend treatment.
Why it’s important to get your company’s financials done on time
February 23, 2024
Timeliness counts in financial reporting. Here’s why it pays to issue your company’s financial statements on time.
Taking your spouse on a business trip? Can you write off the costs?
February 22, 2024
The rules for deducting a spouse’s travel costs are very restrictive for small business owners. Here’s a rundown of what businesses can and can’t write off for tax purposes.
If you didn’t contribute to an IRA last year, there’s still time
February 21, 2024
Saving now for retirement is one of the smartest moves you can make to help ensure financial security. If you’re eligible, you still have time to contribute to an IRA or SEP and save on your 2023 tax return.
Auditing revenue recognition
February 20, 2024
Many companies struggle to follow the accounting rules for revenue recognition, particularly if they work on long-term projects. An external audit can help you get it right.
