🖨 Print⏱ 4 min readEstate and inheritance (“death”) taxes are levied on the transfer of property at death. The difference between an estate tax and an inheritance tax is based on who pays the bill. An estate tax is levied on the estate of the deceased, while an inheritance tax is levied on the heirs … Continue reading “Estate Taxes vs. Inheritance Taxes: Understanding the Differences”
🖨 Print⏱ 4 min readThe internet keeps evolving. It started with static web pages in Web 1.0 before evolving to interactive and dynamic content in Web 2.0. A new phase of technology is now introducing Web 3.0, or the third generation of The World Wide Web. Although it is a work in progress, it is … Continue reading “What Is Web 3.0? Understanding The Next Generation of the Internet”
🖨 Print⏱ 3 min readRelating to a national emergency declared by the President on March 13, 2020 (HJ Res 7) – On March 13, 2020, then-President Trump declared a national emergency relating to the COVID-19 pandemic. Since then, emergency status has continued until the passage of this resolution. The national emergency status relaxed many healthcare … Continue reading “Shoring Up Services for Veterans, Energy Production and Cybersecurity Risks”
🖨 Print⏱ 3 min readLiquidity refers to a business’s ability to convert its short-term assets or securities into cash quickly to meet its short-term financial obligations or pay bills due within the next 12 months. Naturally, cash is the most liquid. This is different than solvency, which refers to the ability of a business to … Continue reading “How to Look at Liquidity through an Accounting Lens”
🖨 Print⏱ 4 min readEmerging technologies, such as artificial intelligence, machine learning, data analytics, and biotechnology, greatly transform society and reshape the global economy. However, these technologies also come with a significant challenge regarding ethical and social implications. Global collaboration by governments, regulators, and industry leaders can help ensure that emerging technologies are developed and … Continue reading “The Importance of Global Collaboration in Regulating Emerging Technologies”
🖨 Print⏱ 4 min readMost people volunteer out of a sense of altruism, duty or purpose – not to get a tax deduction from Uncle Sam. At the same time, if your good deeds could also result in lower taxes, why not? Theoretically, this would free up more time to volunteer or let you make … Continue reading “How Volunteering Can Earn You a Big Tax Deduction”
🖨 Print⏱ 4 min readWhen it comes to valuing a business, there are many ways to examine a company’s profitability. Looking at a business’ liquidation value and its breakup value are two of many approaches to see how a company is functioning and how it might run under different management and economic environments. Liquidation Value … Continue reading “Different Ways to Value a Business”
🖨 Print⏱ 3 min readThe Roth IRA is a retirement savings account in which you invest only after-tax dollars. Subsequently, all earnings grow tax-free and may be withdrawn tax-free. However, there are limits to who can contribute and how much they can contribute to a Roth IRA. Federal rules restrict direct contributions to a Roth … Continue reading “Mega Backdoor Roth IRA”
🖨 Print⏱ 3 min readIt’s that time of year again: tax time. And while many of your money-saving options might be limited after Dec. 31, you can still do a lot to help lower your taxes, save money, and avoid penalties. Here’s a quick snapshot. Contribute to Your Retirement Accounts Yes, doing this will help … Continue reading “6 Tax Tips for 2023”
🖨 Print⏱ 3 min readBlockchain has the promise to revolutionize the way businesses and their accountants keep track of their financial records. When it comes to audit evidence, blockchain may be able to give organizations more efficient ways to bring financial data into universal conformity; help businesses present relevant financial data in an open manner; … Continue reading “How Blockchain Could Impact Accounting and Auditing”
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