Categories for Blog

  • So, You’ve Been Audited: Should You Go It Alone or Hire a CPA?

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

    I sincerely hope you have never had to go through an IRS audit – and never have to in the future. But what if that dark day does arrive? Should you go it alone and defend yourself or hire a CPA to be on your side? The temptation to handle this alone is usually prompted by one of two things. First, the notion is that this is not such a big deal. Other times, people think if they handle it themselves, they will save money. Unfortunately, neither of these are good reasons to defend yourself in a tax audit against... View Article

  • Accounting Considerations for Business Insurance Coverages

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

    With more than eight million small businesses in America, and more than $776 billion in net premiums issued by the insurance industry in 2022 for commercial policies (according to the Insurance Information Institute), business insurance is big business. Along with protecting businesses from a myriad of claims, insurance expenses also have to be accounted for correctly. When it comes to defining prepaid insurance, it’s essentially remittances that businesses (and individuals) make to an insurance company in advance. Normally, the usual time-frame for an insurance policy is 12 months. The time-frame is important when it comes to distinguishing between current and... View Article

  • Pre-Retirement Planning Guide Younger Adults

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

    Step 2: Clarify Goals You’re never too young to start a bucket list. That’s because some things (such as bungee jumping) you probably want to knock out in your twenties. Women may want to have children before their forties – that sort of thing. A bucket list is comprised of all the things you want to do before you “kick the bucket.” It should be a running list that you add to and check off throughout your lifetime. If you haven’t started a bucket list yet, a good time to do this is during your pre-retirement planning. It might be... View Article

  • Summer Reading List for Personal Finances

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

    Since it’s summer and reading lists are at the top of your mind, now’s the perfect time to expand your knowledge of money management and wealth building. So, whether you’re a retiree, a beginning saver, or even a child, we’ve got a book for you. The Classics If you haven’t had a chance to dive into these titles, you might want to grab them, starting with The Millionaire Next Door. Authors Thomas J. Stanley and William D. Danko published this in 1996 and learned something critical: most millionaires were those who don’t blatantly flash their wealth but live below their... View Article

  • Must-Know Backlinks for Boosting Your SEO

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

    Backlinks are a crucial part of search engine optimization (SEO) strategies. They act as votes of confidence from one site to another and signal to search engines that the content is credible and valuable. Understanding the various types of backlinks is important for crafting an effective SEO strategy that enhances your website’s visibility and authority. What Are Backlinks? Backlinks, also referred to as inbound or incoming links, are hyperlinks from one website to another. They serve as endorsements, indicating that the linked content is worth checking out. Search engines use backlinks to assess a website’s credibility and relevance, impacting its... View Article

  • Supporting Tibet, Exposing Hidden Fees and Protecting Judges Amid Rising Threats

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

    Promoting a Resolution to the Tibet-China Dispute Act (S 138) – This bill was introduced by Sen. Jeff Merkley (D-OR) on Jan. 30, 2023. It establishes a statutory definition of Tibet that includes areas currently claimed by China. The legislation also expands efforts to combat Chinese government propaganda, such as disinformation about Tibet’s history and institutions. The bill passed in the Senate on May 23 and in the House on June 12. It is currently awaiting enactment by the president. No Hidden Fees on Extra Expenses for Stays Act of 2023 (HR 6543) – Introduced on Dec. 1, 2023, by... View Article

  • 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

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