Tax Cuts and Jobs Act: Key provisions affecting corporations and individuals
On December 20, Congress completed passage of the largest federal tax reform law in more than 30 years, and according to this C.P.A. for freelancers in NYC, freelancers are going to benefit tremendously. Commonly called the
Make budgeting part of your New Year’s resolution
It’s important to resist the temptation to rely on gut instinct or take shortcuts when budgeting for 2018. Creating a solid budget and business structure such as the canvas business model, that’s based on the three
7 last-minute tax-saving tips
The year is quickly drawing to a close, but there’s still time to take steps to reduce your 2017 tax liability — you just must act by December 31: Pay your 2017 property tax bill
How to conduct a year-end risk assessment
Auditors assess their clients’ risk factors when planning for next year’s financial statement audit. Likewise, proactive managers assess risks at year end. A so-called “SWOT” analysis can help frame that assessment. Typically presented as a
401(k) retirement plan contribution limit increases for 2018; most other limits are stagnant
Retirement plan contribution limits are indexed for inflation, but with inflation remaining low, most of the limits remain unchanged for 2018. But one piece of good news for taxpayers who’re already maxing out their contributions
What you need to know about year-end charitable giving in 2017
Charitable giving can be a powerful tax-saving strategy: Donations to qualified charities are generally fully deductible, and you have complete control over when and how much you give. Here are some important considerations to keep
Boardroom and management diversity adds value
Diversity in a company’s board of directors and its management team helps enhance corporate value. The Securities and Exchange Commission (SEC) already requires limited disclosures on boardroom diversity and has plans to expand these disclosures
The ins and outs of tax on “income investments”
Many investors, especially more risk-averse ones, hold much of their portfolios in “income investments” — those that pay interest or dividends, with less emphasis on growth in value. But all income investments aren’t alike when
Retirement savings opportunity for the self-employed
Did you know that if you’re self-employed you may be able to set up a retirement plan that allows you to contribute much more than you can contribute to an IRA or even an employer-sponsored
4 questions to guide your prospective financial statements
CPAs don’t just offer assurance services on historical financial results. They can also prepare prospective financial statements that predict how the company will perform in the future. This list of questions can help you make
M&As Aren’t Personal — Don’t Let Them Become So
It happens sometimes. Weeks of planning and a smooth due diligence stage are followed by several tense, even hostile days at the negotiating table. At this point, it’s obvious to everyone involved that personality conflicts