Insights

A CPA may be called upon as an expert witness to render a professional opinion, whether in a deposition or at trial. Expert witnesses may be engaged in many types of civil and criminal cases involving financial issues and disputes ranging from IRS audits to Ponzi schemes, including: Fraud Tax Real estate Contracts Regulatory compliance…

Cash flow is king. It is the lifeblood of any business. Often referred to as “working capital,” cash flow is the movement of money going in and out of your business and provides a lens into the health of your operations. If a business is going to survive, owners need to understand best practices to…

If you’re serious about paying off your mortgage quickly, realize that every dollar you add to your regular payment each month puts a bigger dent in your principal balance—and you don’t have to double-down to make a difference. Adding even one extra payment each year knocks years off your mortgage. Here are some options for…

Many of us have rearranged, redecorated, or reimagined our homes to convert them into office spaces this year. This new swell of people working remotely has sparked questions regarding home office expenses and whether they qualify for a deduction. The answer is: it depends. If you are a W-2 employee, unfortunately, the answer is no……

Some love annuities, some hate them, but there’s no denying that many find them useful, and they often form part of an estate plan. Before making a decision, it’s a good idea to learn more about them and how they might be able to help you. Annuities are contracts—sold by insurance companies—that return a series…

QuickBooks is an excellent and cost-effective solution for small businesses, maybe even midsize businesses. But your company will eventually reach a point when it’s time to move off of QuickBooks and onto an enterprise-level software. So, how do you know when to make the move and take your accounting software to the next level? QuickBooks…

With a tax planning opportunity for just about everything, seeking to pay 0% on capital gains is no exception. There are quite a few planning strategies you can utilize in order to realize tax-free earnings on profits from capital assets.  The sale of capital assets, such as your home or investments (stocks, bonds, mutual funds,…

In the midst of continued uncertainty oscillating in the global market, opportunities emerge in times of challenge for market consolidation and distressed acquisitions. As these deals take shape, it is important to consider overall tax planning strategies, as well as the tax implications in the current climate. Market factors along with legislative changes can impact…

In a rapid emergency response to the global pandemic, the federal government rolled out the Coronavirus Aid, Relief, and Economic Security Act (CARES Act) to provide immediate need to small businesses and nonprofits that have been forced to close their doors. Until recently, it was unclear whether these loans would be subject to Single Audit…

In a recent and welcomed move, the Financial Accounting Standards Board (FASB) approved a one-year deferment for private companies and nonprofit organizations to comply with the new accounting rules for revenue recognition and leases as a result of the ongoing challenges surrounding the pandemic. Revenue Recognition Standards While public companies have been using the revenue…