Our Accounting Articles
Unlocking the Power of 529 Plans: SECURE 2.0 Brings New Benefits for Students’ Futures
Starting in 2024, 529 educational savings plans will receive a significant boost in their appeal – thanks to enhanced tax benefits. The introduction of the SECURE Act 2.0, passed into law in late 2022, brings exciting opportunities for 529 plan beneficiaries. But it’s essential to understand the rules and limitations surrounding all available choices for managing excess 529 funds. So, let’s explore these options and uncover how the SECURE Act 2.0 can shape the financial futures of students and their families.
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Maximize Tax Savings and Boost Your Business with Bonus Depreciation
Bonus depreciation is a valuable tax incentive that allows businesses to recover the costs of qualifying assets quicker than traditional depreciation methods. read more…
How the Business Meals & Entertainment Tax Deduction Rules Changed in 2023
For many business owners, meals and entertainment play a significant role in running a successful business. And their tax deductions have been a valuable way for owners to reduce their tax liabilities each year. But you should be aware of recent changes to these deductions. read more…
Unlocking Business Growth: Four Strategies Every Company Should Know
Growth is vital for any company to remain competitive and successful over the long run. Companies must grow and expand to increase their market share, generate revenue, and improve profitability. read more…
How the Generation-Skipping Transfer Tax (GSTT) Impacts Wealth Transfer to Future Generations
You know about the estate tax. You’ve definitely heard of the gift tax. But how much do you know about the generation-skipping transfer tax (GSTT)? read more…
Taking Control of Your Finances: Steps to Get Your Affairs in Order
Managing financial planning decisions, such as retirement savings, budgeting, and estate planning, can be a complex, emotional, and challenging task that many people wish to delay. However, neglecting your financial affairs can negatively impact you and your loved ones should you become ill or pass away. read more…