The Financial Accounting Standards Board is making plans for its future projects, including digital assets, intangibles, government grants, and accounting for financial instruments with environmental, social and governance-linked features and regulatory credits. FASB’s parent organization, the Financial Accounting Foundation, released an annual report Wednesday on the work of both FASB
Opinions expressed by Entrepreneur contributors are their own. As a small business, you don’t want multiple systems taking care of your bookkeeping, invoicing and financial documents. Perhaps you create your invoices in spreadsheets or word-processing documents, eyeball expenses in online banking and maintain your employee records in an HR folder
As more business owners turn to cryptocurrency, accountants need to be proactive to provide these clients with up-to-date information they can use to reach their financial goals. This means asking the right questions, using software to track crypto transactions and the taxes behind them, and being a trusted expert who
Just joining us? Four previous columns spelled out basics like how to submit Form 1040-X (formerly Form 1040X), Amended U.S. Individual Income Tax Return. They also responded to a query from someone I’ll call Sadie, a freelance writer based in New York City, who needs advice on how to submit a 1040-X. Part five
The plunging value of many cryptocurrencies and nonfungible tokens has led to worries about the tax implications faced by crypto investors and companies. Of particular concern are recent requirements from the 2021 infrastructure bill pertaining to crypto. The bipartisan infrastructure law passed by Congress last November requires crypto brokers to
Whether you look forward to two more busy tax seasons or 20, you should start planning today for a practice transition or sale that realizes the true value of your hard work. I have tremendous respect for those of you who’ve weathered the storm and emerged triumphant: We’ve been tested,
