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  • Understanding IRS Forms 1099 for Lawsuit Settlements

    Posted Date April 1, 2025 Posted Time 12:00 pm Published in

    The Basics of Tax Reporting in Legal Settlements When you collect a settlement for a lawsuit, you’ll likely also receive a Form 1099 from the IRS. This form serves as a reminder to pay taxes on your settlement; copies are sent to both you and the IRS. These forms match reported income for income tax purposes, making them critical for accurate tax filing. In lawsuit contexts, two common forms 1099 are issued: Form 1099-MISC: This version can include various types of settlement payments, often termed other income Form 1099-NEC: Used specifically for non-employee compensation Understanding the Difference Between Forms The... View Article

  • Valuation Ratio Calculating the EV / 2P

    Posted Date April 1, 2025 Posted Time 12:00 pm Published in

    When it comes to analyzing a company’s financials, there are many avenues we can take. One way is through multiples; calculating the EV/2P multiple is the focus of this analysis. This ratio looks at a business’ enterprise value against its proven and probable 2P reserves. While ratios or multiples are used in valuing companies, this metric is used chiefly to value gas and oil companies for energy sector analysts. Analysts use this calculation to determine the likelihood that a company’s reserve resources can underpin its functioning and expansion efforts. Along with the ratio, analysts use micro and macro factors to... View Article

  • Reasons to Consider Out-of-State Municipal Bonds

    Posted Date April 1, 2025 Posted Time 12:00 pm Published in

    Municipal bonds (also known as munis) are issued by a state or local government. Interest income is typically paid out twice a year and is not subject to federal taxes. When an investor purchases a bond issued from his own state, the income is generally not subject to state income taxes. However, there are a few good reasons to consider buying out-of-state municipal bonds. The first reason is to consider bond quality. Each muni bond is given a quality rating based on the municipality’s ability to make the regular interest payments to investors and return their principal when the term... View Article

  • 7 Ways to Teach Your Kids to Save

    Posted Date April 1, 2025 Posted Time 12:00 pm Published in

    Of all the things you teach your kids when they’re young, saving money just might be one of the most important. Teaching them to delay gratification could help them avoid unnecessary spending and help them learn to value controlling their money. Here are some tips you can use to educate them about this crucial life skill. Discuss Wants Versus Needs Often, when your child says, “I need this” he really means “I want this.” Should you hear this, think of it as an opportunity to help him understand the difference between the two. You might explain that a need includes... View Article

  • Building Deeper Customer Connections: Leveraging Web3 for Loyalty, Community, and Engagement

    Posted Date April 1, 2025 Posted Time 12:00 pm Published in

    Competition in business today has become fierce. Each organization is constantly looking for innovative ways to form strong relationships with its customers. Loyalty programs have been used for a long time to build a devoted customer base. As technology advances, new technologies like Web3 are emerging, offering more opportunities to revolutionize loyalty programs, build vibrant communities, and deepen customer engagement. Transforming loyalty programs through Web3 Loyalty programs help boost customer spending and drive long-term business success. Loyalty program members also generate more revenue than non-members. In the United States alone, the average consumer belonged to more than 15 programs in... View Article

  • Preventing a Government Shut Down, Rolling Back Regulations and Clarifying Cryptocurrency Protocols

    Posted Date April 1, 2025 Posted Time 12:00 pm Published in

    Full-Year Continuing Appropriations and Extensions Act, 2025 (HR 1968) – In the nick of time before the midnight deadline that would have otherwise shut down the Federal government, Congress passed a budget bill to fund the rest of the fiscal year that ends Sept. 30. This bill increases funding for the military by $6 billion while reducing non-defense spending by $13 million. The federal funding bill also reduced the amount of funding for the District of Columbia (Washington D.C.) by $1.1 billion, which is paid for by local taxes. This final continuing resolution bill was passed in the House on... View Article

  • As Tax Season Opens, We Must Stay Alert to Rising Scam Threats

    Posted Date March 1, 2025 Posted Time 12:00 pm Published in

    As tax filing season begins, scammers are ramping up efforts to steal taxpayers’ personal information through increasingly sophisticated schemes. Below, we discuss the latest scam, what to look out for in general, and what to do if you suspect something malicious. New Scam of the Season The U.S. Treasury Inspector General for Tax Administration (TIGTA) recently issued an alert about a prevalent scam involving Economic Impact Payments. In this scheme, taxpayers receive texts claiming they’re eligible for a $1,400 Economic Impact Payment, requesting personal information and bank details for deposit. While the IRS is indeed processing some legitimate Recovery Rebate... View Article

  • Defining Net Revenue Retention (NRR)

    Posted Date March 1, 2025 Posted Time 12:00 pm Published in

    The subscription economy, according to Forbes, is expected to reach $1.5 trillion in revenue for businesses. With the potential likely realized this year, it’s vital to understand how it is tracked – and more importantly, how it’s able to be tracked on a separate basis. Also known as net dollar retention (NDR), this metric calculates the proportion of recurring revenue kept from present clients, including upsells and churn, during a defined time frame. Net revenue retention (NRR) evaluates a business’s potential to keep and increase sales from their present clients. It looks at how well a company leverages existing customer... View Article

  • What’s New in Identity Theft?

    Posted Date March 1, 2025 Posted Time 12:00 pm Published in

    Identity theft is when someone steals your personal information and then uses it to commit fraud. They may access your Social Security or Medicare number, employee ID, utility, credit card or bank account numbers. Once the scammer has this information, he can conduct all kinds of crimes, such as withdraw assets from your accounts, open and close accounts in your name, take out loans or new lines of credit in your name, and even impersonate you if they get arrested – leaving you with a criminal record you may not even know about. How Do Scammers Steal Your Identity? Whereas... View Article

  • 6 Tax Filing Tips & Important Info for 2025

    Posted Date March 1, 2025 Posted Time 12:00 pm Published in

    As Benjamin Franklin said, there’s only two certainties in life: death and taxes. With the former, you don’t have much control over; however, the latter can be affected. That’s why we’re here to give you some tips and info about filing in our changing landscape. Remember Key Deadlines Whether it’s scheduling an alarm on your phone or penning it old school-style on a notepad, it’s critical to keep track of when your taxes are due. Of course, you’ll want to start early. When you do this, you have enough time to gather your info and forms, and make sure you... View Article

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