Tax season can be a daunting time for business owners. Still, with a solid understanding of business accounting, you can navigate the complexities of taxation more efficiently and...
Posted by Rosovich & Associates, Inc. on 10/10/2023
When managing finances, individuals and businesses often encounter situations where they lend money to others and, unfortunately, face the risk of non-payment. Such instances of bad...
Posted by Rosovich & Associates, Inc. on 08/17/2023
The sixth day of January 2021 was the day the Treasury Department and Internal Revenue Service (IRS) decided to bring the IRC Section 451 regulation to a conclusion. However, the decision...
Posted by Jim McClaflin, EA, NTPI Fellow, CTRC on 02/17/2023
A defined benefit plan, more commonly known as a pension plan, provides guaranteed retirement benefits to employees. Defined benefit plans are primarily funded by the employer, with...
Partnerships should use Schedule K-1 tax forms to distinguish partnership income from owners' income. By doing this, your business will more likely avoid the $54,171 tax penalties...
Posted by Taxes Made EZ Inc on 11/17/2022
Accumulated earnings and profits (E&P) are the earnings accumulated by a company after the payment of dividends to shareholders. It measures a company's ability to pay cash...
Posted by Jim McClaflin, EA, NTPI Fellow, CTRC on 04/09/2022
A 401(k) work plan helps you save a considerable amount each year in retirement, but there are annual limits for your contributions and those of your employer. Whether you choose a...
Generally Accepted Accounting Principle (GAAP) refers to a set of rules established to help publicly traded firms establish their financial statement. The rules serve as the foundation...
A cannabis business can typically expect a series of scrutiny from the IRS that will want to penalize them if they are not compliant. Here are tips that can help your marijuana business...