Choosing a new (or new-to-you) car is exciting, and one of the biggest financial decisions you’ll make. You may be wondering, “Should I lease or buy a car?” As such, you should consider all your options and how they’ll affect your lifestyle. What’s the most cost-effective way to drive the car you want? Choosing between…
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Have you considered investing in cryptocurrency but wonder what the tax ramifications will be? Although the IRS is still playing catch-up with crypto technology, they have issued some basic guidance (Notice 2014-21) which helps us answer this question. The IRS has ruled that cryptocurrencies are to be considered “property” for tax purposes, rather than “currency,”…
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The recently enacted Tax Cuts and Jobs Act (TCJA) introduces two elections, one to defer gain from the sale of property that is reinvested in an investment in a Qualified Opportunity (QO) Fund and another to permanently exclude gain from the sale or exchange of the investment in the QO Fund. These elections can provide…
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All good business owners know that time is a valuable asset, so you need ways to make accounting easier. Investing copious amounts of time into QuickBooks isn’t always the best option. We’re firm believers that you shouldn’t have to do a lot of data entry style accounting to reap the benefits of great financial information. There are several…
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We all know that accountants are the backbone of any financially successful business. They help keep both you and your money in check. Keeping that in mind, many people overlook the fact that your accountant sees anything and everything you purchase with company funds. Yes – everyTHING…and everyWHERE. Nothing is more entertaining to me on a Monday than seeing exactly how much fun…
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Controllers have a reputation for being stressed out, anti-social and negative. Some think it’s because they deal with numbers and a calculator all day, but it’s much more complicated than that! Consider what your Controller does (or should be doing) for your business before giving them a hard time: 1. One Department To Serve Many Your…
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