🖨 Print⏱ 6 min readThe biggest difference between managing taxes throughout your career versus during retirement is that when you are retired, you are responsible for calculating how much you owe and paying it on a timely basis. Retirees normally have several different income sources, and not all automatically withhold taxes from distributions. Retirement Income … Continue reading “How to Manage Taxes in Retirement”
🖨 Print⏱ 4 min readThe emergence of digital currency is reshaping how businesses operate and account for financial transactions. As accounting professionals navigate this transformative wave, understanding the profound impact of digital currency on business accounting becomes not just relevant but imperative. What is digital currency? Digital currency is a form of currency that exists … Continue reading “Impact of Digital Currency on Businesses’ Accounting”
🖨 Print⏱ 3 min readEvery year, the IRS announces annual inflation adjustments related to tax rate schedules, deductions, cost-of-living adjustments, etc. What many taxpayers do not realize is that they also adjust the cost of fines and penalties as well. This means that the penalties for late filings and missing tax forms are getting more … Continue reading “Updated IRS 2024 Penalties for Late Filing and Missed Tax Forms”
🖨 Print⏱ 3 min readA bill to amend Title 38, United States Code, to extend and modify certain authorities and requirements relating to the Department of Veterans Affairs, and for other purposes. (S 2795) – This bill was introduced on Sept. 13 by Sen. Don Tester (D-MT). This act extends various Department of Veterans Affairs … Continue reading “Expanding Benefits for Veterans and Extending Government Funding Until Jan. 19, 2024”
🖨 Print⏱ 3 min readAccording to the Centers for Medicare & Medicaid Services’ report “Advancing Rural Health Equity,” the 2022 Consolidated Appropriations Act (CAA) maintained telehealth options due to the COVID-19 Public Health Emergency (PHE) order for 151 more days beyond the original expiration of the Covid-19 PHE. Medicare recipients will benefit from the extension … Continue reading “How the 2022 Consolidated Appropriations Act Impacted Accounting in 2023”
🖨 Print⏱ 3 min readAccording to the United States Department of Labor’s Consumer Credit Protection Act (CCPA), wage garnishments are a complex legal process for employers to account for when it comes to employment matters. This article specifically refers to Title III of the Consumer Credit Protection Act. Usually authorized through a court order, a … Continue reading “Wage Garnishment Considerations for Business Owners”
🖨 Print⏱ 4 min readUnless you’re near retirement, chances are you’re depositing a certain amount of cash each year in your IRA at tax time, then kind of forgetting about it, not thinking much about it until the next year. This dynamic can cost you a lot of money – today and at retirement age. … Continue reading “4 Smart Ways to Maximize Your IRA Contributions”
🖨 Print⏱ 4 min readIn one year’s time, the U.S. inflation rate dropped by more than half, from 8.2 percent in September 2022 to 3.7 percent in September of 2023. If there is a downside to lower inflation, it’s a lower cost of living adjustment (COLA). This year, the inflation rate plummeted from 6.4 percent … Continue reading “2024 Cost of Living Adjustments”
🖨 Print⏱ 5 min readAs technology advances, users crave convenient and feature-rich solutions. In mobile app development, the concept of super apps is taking the tech world by storm. These apps include a wide range of services within a single platform, such as messaging, payments, ride-hailing, food delivery, and more. Super apps have disrupted traditional … Continue reading “Super Apps and Their Impact on Traditional Business Models”
🖨 Print⏱ 3 min readProtecting Hunting Heritage and Education Act (HR 5110) – This bill was introduced in the House on Aug. 1 by Rep. Mark E. Green (R-TN). The purpose of this bill is to ban federal funds from being used for weapons training in public schools, except in the case of training students … Continue reading “Banning Weapons Training in Public Schools, Funding Assistance for Ukraine, and Various Appropriations Bills for Fiscal Year 2024”
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