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How to Protect Your Identity and Credit

Mon, Jul 8th 2019
*We're making July all about data security. Come back each week for a new article aimed at helping you keep your valuable data secure. As the internet expands, thieves have more opportunities to steal your financial identity. The Federal Trade Commission reports that as many as half a million Americans have their identities stolen annually, costing them money and affecting their credit ratings. Identity thieves make their money by co-opting your name, Social Security number, credit card number... Read More »

Can You Trust the Cloud with Your Taxes?

Tue, Jul 2nd 2019
*We're making July all about data security. Come back each week for a new article aimed at helping you keep your valuable data secure. If you properly back up your digital files, they'll never fade, get lost, feed a fire or float away in a flood. Are you worrying about trusting the cloud with your taxes and other important financial papers? CPAs and other financial professionals know the importance of keeping records, and now the idea is to scan the originals and then shred the paper versions.... Read More »

Salary Rules in an S-Corp

Mon, Jun 24th 2019
You're in business to make money to feed your family, send the kids to college or drive the sports car of your dreams. But when you're a shareholder in an S corporation, how and how much you get paid can be controversial and a red flag for the IRS. What is an S corporation? Businesses are organized in many ways. In an S corporation, business income and losses pass through the business and become part of each shareholder's personal tax return. Why is that a good thing? S-corp shareholders, who... Read More »

Preparing for Retirement?

Mon, Jun 17th 2019
You did it. You made it to retirement. That light at the end of the career tunnel is within your reach now, and it's smooth sailing ahead. Sure, you're ready, you have trips planned in between days of no alarm clocks, and life is good. Before you slice the au revoir cake, here are a few last-minute retirement items to consider before the work party concludes. 1. Take advantage of last-minute tax-free savings. In your final months of work, take advantage of catch-up provisions available in many... Read More »

Audits, Reviews and Compilations: A Summary

Tue, Jun 11th 2019
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 your financial statements. Getting an accountant's blessing is especially useful when you are applying for more credit from a bank. Financial statements are intended to give you current information on your business's financial standing so you can make more informed decisions. There are three levels of overview you... Read More »