• Marrying a Non-U.S. Citizen? No Tax Honeymoon for You

    Posted Date June 1, 2024 Posted Time 12:00 pm Published in

    Marriage is a major life event. One that comes with all kinds of change, including financial. After getting married, there is so much to consider, from merging bank and brokerage accounts to setting up a will; from changing your withholding to updating retirement account beneficiary forms. If this seems like a lot to consider, it’s important to keep in mind that when a U.S. citizen marries a non-U.S. citizen, the situation gets even more complex. Among some of the more complex tax considerations of mixed citizenship marriages are gift and estate taxes, which we will dive into below. Gift and... View Article

  • How to Develop a Credit Policy

    Posted Date June 1, 2024 Posted Time 12:00 pm Published in

    A credit policy explains how a company will manage lines of credit for client accounts and what procedures to follow for severely outstanding invoices. It helps a business promote a robust foundation for its working capital level. Defining a Credit Policy Unlike personal credit scores, business scores range from 0 to 100; the scores from the FICO Small Business Scoring Service range from 0 to 300. According to the U.S. Small Business Administration, a first step to establishing business credit is to sign up for a Dun & Bradstreet (DUNS) number for each business location. There are three components to... View Article

  • Pre-Retirement Planning Guide

    Posted Date June 1, 2024 Posted Time 12:00 pm Published in

    Step 1: Develop a Budget Once you are truly good and retired – no phase-out, no gig jobs, no income-earning hobbies – most people end up living on a “fixed income.” While that income may fluctuate somewhat based on cost-of-living increases and investment gains, those increases may be few and far between. What you really need to work on before you retire is a “fixed budget.” A fixed budget is a line-item record of your living expenses, from housing and insurance to food and utilities to transportation and healthcare. Bear in mind that those are not exactly “fixed expenses” either.... View Article

  • 6 Financial Tips for New Dads

    Posted Date June 1, 2024 Posted Time 12:00 pm Published in

    There are probably few things as exciting and daunting as becoming a new dad, especially when it comes to finances. But we’ve got you! Here are a few tips to help you turn those challenges into opportunities as you walk this new life path. Create a Budget This is probably super obvious, but here’s a way to break it down into sections so you’ll have a roadmap. Look at current finances. This includes income, checking, and savings. Plan for new expenses. Make an exhaustive list of everything you can think of that your baby might need. Prioritize and cut. Identify... View Article

  • The Role of Data Analytics and Visualization in Modern Auditing

    Posted Date June 1, 2024 Posted Time 12:00 pm Published in

    Modern businesses have become complex mainly due to the exponential growth of data, and traditional auditing methods can no longer keep pace. To cope with today’s rapidly evolving business landscape, data analytics and visualization have become crucial tools. Leveraging these advanced technologies enhances the efficiency and effectiveness of audits and enables auditors to extract valuable insights previously hidden in the vast sea of data. Understanding the Change Before the digital age ushered in a new era of auditing, auditors relied solely on manual sampling techniques and paper-based records. Today, data analytics serves as the cornerstone of audit procedures. By utilizing... View Article

  • Funding for Federal Aviation, Reinforcing Supply Chains, and Deterring Iranian Terror Attacks Around the World

    Posted Date June 1, 2024 Posted Time 12:00 pm Published in

    FAA Reauthorization Act of 2024 (HR 3935) – This bipartisan bill reauthorizes funding and direction for the Federal Aviation Administration (FAA) and the National Transportation Safety Board (NTSBB) for another five years. The legislation is designed to improve air travel safety, provide increased protections for consumers, hire more people to the aviation workforce, and modernize the U.S. national airspace system for the future. It authorizes more than $105 billion for FAA funding through fiscal year 2028. The bill passed in the Senate on May 9, in the House on the next day, and was signed by the president on May... View Article

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