How to Manage Taxes in Retirement
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How to Manage Taxes in Retirement
The biggest difference between managing taxes throughout your career versus during retirement is that when you are retired, you are responsible for calculating how much you owe and paying it on a timely basis. Retirees normally have several different income … Continue reading
Impact of Digital Currency on Businesses’ Accounting
The emergence of digital currency is reshaping how businesses operate and account for financial transactions. As accounting professionals navigate this transformative wave, understanding the profound impact of digital currency on business accounting becomes not just relevant but imperative. What is … Continue reading
Wage Garnishment Considerations for Business Owners
According to the United States Department of Labor’s Consumer Credit Protection Act (CCPA), wage garnishments are a complex legal process for employers to account for when it comes to employment matters. This article specifically refers to Title III of the … Continue reading
4 Smart Ways to Maximize Your IRA Contributions
Unless you’re near retirement, chances are you’re depositing a certain amount of cash each year in your IRA at tax time, then kind of forgetting about it, not thinking much about it until the next year. This dynamic can cost … Continue reading
New Business Travel Per Diem Rates Announced for 2023-2024
New per diem rates were recently announced by the IRS and are effective for per diem allowances on or after Oct. 1, 2023. These updated rates include changes for the transportation industry, incidental expenses as well as the high-low substantiation … Continue reading
Banning Weapons Training in Public Schools, Funding Assistance for Ukraine, and Various Appropriations Bills for Fiscal Year 2024
Protecting Hunting Heritage and Education Act (HR 5110) – This bill was introduced in the House on Aug. 1 by Rep. Mark E. Green (R-TN). The purpose of this bill is to ban federal funds from being used for weapons … Continue reading
Understanding Operating and Capital Leases
The first thing to define is what a lease itself is. It’s an agreement or contract where one party, the lessor, allows another individual or business, the lessee, to use their asset in return for payments or different assets. The … Continue reading