If your investments have fluctuated wildly this year, you may have already recognized some significant gains and losses. But nothing is decided tax-wise until year end when the final results of your trades will reveal your 2023 tax situation. Here’s what you need to know…
Are you an accounting student who is feeling overwhelmed by the recruiting process? This column is a series intended to help you succeed as you begin your journey with the accounting profession. Here are things you should do when it comes to the interview…
Now that Labor Day has passed, the holidays are just around the corner. Many people may want to make gifts of cash or stock to their loved ones. By properly using the annual exclusion, gifts to family members and loved ones can reduce the size…
Are you an accounting student who is feeling overwhelmed by the recruiting process? This column is a series intended to help you succeed as you begin your journey with the accounting profession. Here are things you should do when it comes to preparing your resumé: Start…
Let’s say you decide to, or are asked to, guarantee a loan to your corporation. Before agreeing to act as a guarantor, endorser or indemnitor of a debt obligation of your closely held corporation, be aware of the possible tax implications. If your corporation defaults…
If you have family members with disabilities, there may be a tax-advantaged way to save for their needs — without having them lose eligibility for the government benefits to which they’re entitled. It can be done though an Achieving a Better Life Experience (ABLE) account,…
Did you ever wonder why a non-public company would elect to go through the process of having an annual financial statement audit performed by an independent CPA? There are several reasons that an annual financial statement audit is considered to be a sound business practice. …
The federal student loan “pause” is coming to an end on August 31 after more than three years. If you have student loan debt, you may wonder whether you can deduct the interest you pay on your tax return. The answer may be yes, subject…
An estimated 190 million Americans have recently been under heat advisory alerts, according to the National Weather Service. That may have spurred you to think about making your home more energy efficient — and there’s a cool tax break that may apply. Thanks to the…
To view our BS&P Quarterly Connect – Q2 2023 Recap click: BS&P Quarterly Newsletter Quarter 2 2023 Recap