The Importance of Liquidity in Decision-Making

By |2021-07-28T12:58:23-05:00June 21st, 2021|Cash Flow, Saving|

  Liquidity is essential for businesses to survive and thrive. Liquidity is a measure of available liquid assets, with cash being the most important. A company’s employees, vendors, and other stakeholders expect the company to maintain adequate liquidity to meet its obligations. It makes sense that liquidity should be factored into important decisions, but it’s [...]

SECURE Act – How is Your Retirement Plan Affected?

By |2021-07-28T15:59:03-05:00May 24th, 2021|Compliance, COVID-19, Employment, Retirement, Saving|

  The SECURE (Setting Every Community Up for Retirement Enhancement) Act was signed into law in December 2019 and contains many provisions that are designed to help Americans save more for retirement, begin saving for retirement, and use retirement funds responsibly. The SECURE Act was some of the most significant legislation affecting retirement plans in [...]

Why Liquidity Is Important In Nonprofit Decision-Making

By |2021-07-28T12:58:13-05:00April 12th, 2021|Cash Flow, Nonprofit, Saving|

  Liquidity is essential for an organization to be able to survive and thrive. Liquidity is a measure of available liquid assets, with cash being the most important. An organization’s employees, vendors, and other stakeholders expect the organization to maintain adequate liquidity to meet its obligations. It makes sense that liquidity should be factored into [...]

3 Key Financial Ratios That Every Nonprofit Should Track

By |2021-09-07T12:01:13-05:00June 9th, 2020|Advisory, Assurance, Budget, Nonprofit, Saving|

Let’s face it, every month you review the same financial statements, which are most commonly: the statement of financial position, the statement of activities, and possibly the cash flow statement. Do you take the next step and dig deeper into these financial statements by calculating the key financial ratios that are important to your organization? [...]

Is An HSA Right For You?

By |2019-12-12T15:37:19-06:00December 12th, 2019|Advisory, Healthcare, Medicare, Saving, Tax|

To help defray health care costs, many people now contribute to or are thinking about setting up, Health Savings Accounts (HSAs). With these accounts, individuals can pay for certain medical expenses on a tax-advantaged basis. The basics With HSAs, you take more responsibility for your health care costs. If you’re covered by a qualified [...]

Standard Deduction vs. Itemized Deduction for Charitable Contributions

By |2019-12-09T13:20:53-06:00March 20th, 2019|Accounting, Advisory, Deductions, Donation, Saving, Tax, Tax Reform|

The benefits of charitable contributions may be eliminated for some taxpayers. The Tax Cuts and Jobs Act (TCJA) doubled the standard deduction, meaning more taxpayers may find themselves in a better tax position by choosing the standard deduction over itemizing. Since charitable contributions are itemized, this is leaving many to wonder, “Will I still [...]

Dissipation Claims in Marital Disputes – They Can Be Costly

By |2019-04-17T15:36:55-05:00December 28th, 2018|Change, Damages, Forensic Accounting, Home, Investigation, Litigation Support, Saving|

Studies say that more than 50% of all marriages will end in divorce and one of the major breaking points are disagreements around finances. It’s not surprising that many divorces end up in legal battles over some financial matter. One common type of these disputes is known as a dissipation claim. Generally, a dissipation claim [...]

Keep it SIMPLE: A tax-Advantaged Retirement Plan Solution for Small Businesses

By |2018-08-30T12:44:06-05:00August 30th, 2018|Preparation, Saving|

If your small business doesn’t offer its employees a retirement plan, you may want to consider a SIMPLE IRA. Offering a retirement plan can provide your business with valuable tax deductions and help you attract and retain employees. For a variety of reasons, a SIMPLE IRA can be a particularly appealing option for small businesses. [...]

The TCJA Prohibits Undoing 2018 Roth IRA Conversions, but 2017 Conversions are Still Eligible

By |2018-08-30T09:24:16-05:00August 30th, 2018|Change, Saving, Tax Reform|

Converting a traditional IRA to a Roth IRA can provide tax-free growth and tax-free withdrawals in retirement. But what if you convert your traditional IRA, which is subject to income taxes on all earnings and deductible contributions, and then discover you would have been better off if you hadn’t converted it? Before the Tax Cuts [...]

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