Read About - CECL Model for Measurement of Credit LossesMay 9, 2023
At a Glance
Main Takeaway
The Current Expected Credit Loss (CECL) model is a newer accounting standard that requires companies to estimate and account for expected losses on their financial statements
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Read About - How Technology is Changing the Future of Payroll ManagementMay 5, 2023
At a Glance
Main Takeaway
Recent technological advancements in payroll management are leading to enhanced operational efficiency and business compliance
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Read About - Understanding SALT Cap WorkaroundsMay 2, 2023
At a Glance
Main Takeaway
State and local income taxes, commonly called "SALT," have been the subject of much discussion in recent years
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Read About - ASC 740 and State Income TaxesApril 25, 2023
At a Glance
Main Takeaway
Accounting Standards Codification 740, also known as ASC 740, is a set of guidelines regulating how companies recognize the impact of income taxes under Generally Accepted Accounting Principles (GAAP)
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Read About - How Does the SALT Deduction Work?April 11, 2023
https://windes.wistia.com/medias/ym7b0vetle?embedType=async&seo=true&videoFoam=true&videoWidth=640
At a Glance
Main Takeaway
The State and Local Tax (SALT) deduction impacts the financial strategies of businesses and high-net-worth individuals every year
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Read About - FASB Update to Lease GuidanceApril 7, 2023
At a Glance
Main Takeaway
In an Accounting Standards Update (ASU) released last week, the Financial Accounting Standards Board (FASB) updated lease guidance on related party arrangements between entities under common control
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Read About - Choosing the Right Business StructureApril 5, 2023
At a Glance
Main Takeaway
Choosing the proper business structure is a necessary part of starting or restructuring your business
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Read About - How Small Businesses Can Handle Supply Chain DisruptionsApril 3, 2023
At a Glance
Main Takeaway
The COVID-19 pandemic, geopolitical conflicts like the Ukraine war, and economic uncertainty have severely impacted small businesses worldwide, especially concerning supply chain disruptions
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Read About - Valuation Allowances for Deferred Tax AssetsMarch 27, 2023
At a Glance
Main Takeaway
Deferred tax assets are non-current assets on a company’s balance sheet that reduce taxable income in the future
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Read About - SECURE 2.0 Act Streamlines Hardship Distributions Through Self-CertificationMarch 17, 2023
The process of making hardship distributions for 401(k), 403(b), and 457(b) plans has been simplified with the enactment of the SECURE 2.0 Act in December 2022
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Read About - Cash or Accrual Accounting Method, Know the DifferenceMarch 15, 2023
At a Glance
Main Takeaway
As a private business owner, understanding the difference between cash and accrual accounting methods is essential to accurately interpret your company's financial health
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Read About - Lease Accounting Standards Allow Nonprofits to Use Risk-Free RateMarch 8, 2023
At a Glance
Main Takeaway
The time has come for nonprofit organizations to implement the new ASC 842 standards
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