The Public Company Accounting Oversight Board (PCAOB) recently published its second post-implementation review on critical audit matters (CAMs). The report found that, while the proportion of auditor’s reports that have a single CAM has increased, the average number of CAMs has declined over time. Here’s what you should know. Defining CAMs Auditors of public companies […]
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Tax-saving ways to help pay for college — once your child starts attending
If you have a child or grandchild in college — congratulations! To help pay for the expenses, many parents and grandparents saved for years in tax-favored accounts, such as 529 plans. But there are also a number of tax breaks that you may be able to claim once your child begins attending college or post-secondary […]
Valuing tangible property donations isn’t as simple as you may think
A new refugee resettlement charity had only just begun operating when its director realized something: She wasn’t sure how to value the many donations of clothing and household goods community members had dropped off. Was value simply the price her not-for-profit would charge if it sold the goods in a rummage sale or on an […]
How the new SECURE 2.0 law may affect your business
If your small business has a retirement plan, and even if it doesn’t, you may see changes and benefits from a new law. The Setting Every Community Up for Retirement Enhancement 2.0 Act (SECURE 2.0) was recently signed into law. Provisions in the law will kick in over several years. SECURE 2.0 is meant to […]
2022 holiday sales defied predictions of retail gloom
5 benefits of outsourcing your accounting needs
CPA firms do more than audits and tax returns. They can also help you with everyday accounting-related tasks, such as bookkeeping, budgeting, payroll and sales tax filings. Should your organization outsource its accounting needs? Here are five potential advantages to consider when evaluating this decision. 1. Professional advice. Outsourcing to an experienced CPA firm provides […]
