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  • The New Era of “No Tax” Policies: Selective Tax Exemptions and Their Side Effects

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

    Former President and current candidate Donald Trump introduced a new policy of his in a recent Arizona rally: No more income tax on overtime pay. This follows both Trump and Vice President Harris’ proposal for a no income tax on tips policy, as well. Below we will look at the two recent proposals and what they could mean for both taxpayers and businesses. No Tax on Tips The no tax on tips policy looks to lighten the tax burden on service industry workers. According to the Fair Labor and Standards Act, anyone who “customarily and regularly” receives $30 or more... View Article

  • How to Measure the Quality of Accounts Receivable

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

    Analyzing a company’s Accounts Receivables is an effective way to measure its current cash flows and the likelihood of maintaining healthy cash flows. According to the U.S. Chamber of Commerce’s Small Business Index (Third Quarter 2024), 68 percent of small business owners reported being content with their third quarter cash flow performance. This illustrates the importance for small business owners to do everything possible to maintain healthy cash flows, including evaluating the quality of accounts receivables (A/R). Defining Accounts Receivables This account or line item on the balance sheet gives the business’ managers/owners and investors a measure on how much... View Article

  • Pre-Retirement Planning Guide Estate Plan

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

    Step 5: Estate Plan The value of an estate plan is twofold. Yes, you want to pass your assets on to heirs in a seamless and tax-efficient manner. But it is also a roadmap to help your heirs understand the full breadth of your assets, where they are located, and how they should be disseminated according to your wishes. Two important components of your estate plan come into play before you pass away. The first is a Power of Attorney. This document appoints someone you trust – a relative, a friend or a custodial like a bank – to handle... View Article

  • 6 Things to Know to About Annuities

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

    Annuities are one of many products that folks have in their nest egg. But first, what exactly is an annuity? Simply put, it’s a contract with an insurance company that promises to pay the buyer a steady stream of income in the future. It can be either a fixed or variable income stream. The term “annuity” can also refer to a sum of money payable yearly or at other regular intervals. There are some things to know before you charge headlong into putting your assets into an annuity. So, here are a few watch outs to consider before you head in that... View Article

  • Zero Trust Security Models: The New Standard Against Data Breaches?

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

    As technology evolves, so have data breaches, which have become a significant threat to businesses of all sizes. We frequently hear reports of high-profile attacks on major organizations, global corporations, and even government agencies. Emerging technologies such as generative artificial intelligence and machine learning make cybersecurity more challenging. They enable cybercriminals to automate attacks, create sophisticated phishing schemes, and develop advanced malware to evade traditional security measures. Hence, companies have no choice but to change how they approach cybersecurity. To deal with these modern threats, Zero Trust security models are gaining widespread adoption as the preferred standard for effectively protecting... View Article

  • Keeping the Government Open, Stopping the Flow of Synthetic Drugs, and Improving Wireless Communications on Land and in Space

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

    Continuing Appropriations and Extensions Act, 2025 (HR 9747) – This continuing resolution was introduced on Sept. 22 as a “clean” extenuation of the federal budget to fund the government until Dec. 20. Up until this point, a handful of Republicans had attached unrelated bills pertaining to November election restrictions, which they did not have the votes to pass in the House and would never have passed in the Senate. After several weeks of threatening to shut down the government by not passing a continuing appropriations bill, the House Speaker proposed this “last-minute” tied over with the minimum appropriations necessary to keep... View Article

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