How to Correct A Payroll Mistake

How to Correct A Payroll Mistake

Back Pay and Form W-2 Back pay, or back wages, is the difference between what an employee was actually paid...

Due Diligence for Law Firm Mergers

Due Diligence for Law Firm Mergers

According to legal consultants Altman Weil, law firms in every section of the market are interested in mergers. They said...

Section 179 Deduction and the Bonus Deduction

Section 179 Deduction and the Bonus Deduction

The bonus deduction and the Section 179 deduction are tax incentives for businesses that purchase and use qualified business property....

Depreciation Basics for Tangible Property

Depreciation Basics for Tangible Property

With the exception of land, all tangible property generally loses value over time because it deteriorates (e.g., buildings or vehicles),...

New Leasing Standards Arrive for Private Companies

New Leasing Standards Arrive for Private Companies

The new Financial Accounting Standards Board (FASB) rules, which became effective on January 1, 2019, for public companies using a...

FIFO or LIFO: Which Is Right for Your Business?

FIFO or LIFO: Which Is Right for Your Business?

The way businesses value inventory can affect their taxes. It also affects the financial statements companies present to banks when...

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