What to Know about Audits and Financial Statements
You will want to prepare your financial statements in accordance with an accounting framework that’s appropriate for your business. Most of the time, you’ll opt for a CPA to produce …
Federal Taxpayer Penalty Guide
Common penalties and obtaining penalty abatement from the IRS. The IRS can assess many types of penalties against taxpayers: late-filing penalties, late-payment penalties, estimated tax penalties, accuracy-related penalties, and the …
Worried About the Monthly Close
The monthly close process should be standardized. Start by creating a list of standard journal entries that will promote consistency in monthly closings. The following types of adjusting entries produce …
Functions You Need in Construction Accounting Software
As construction firms evolve, they quickly outgrow their first-generation accounting software packages. That software was likely purchased when there was not a lot of capital on hand and not a …
Exit Planning for Business Owners
Whether your business is a start-up or a mature business, exit planning should be part of your overall business plan. That may sound counterintuitive, but the fact is that no …
Top 10 Estate Planning Errors to Avoid
There are myths and misconceptions about estate planning. Here are the top common mistakes to avoid and help your family save thousands of dollars in unnecessary taxes and probate fees: …