The Tax Court recently warned that although there are exceptions for when a traditional IRA can invest in gold, those that do best meet the requirements spelled out by the IRS. Basic rules: When you set up an IRA, the funds are handled by a custodian that oversees the investments. Typically,
Because payroll and HR providers offer such a wide range of services, you can now choose a solution provider that not only takes the friction out of the process, but also fulfills your clients’ needs. Today, firms have more choices when it comes to payroll with four basic models—outsourcing, in-house,
For many people, the COVID-19 pandemic has been a wakeup call. Few people have said at the end of their lives, “I wish I spent more time at the office.” You may have clients who are wondering whether they can retire early. You may have others who are in great
Employers typically aim to pay their employees on an hourly basis. However, some employers don’t respect the hours that their employees work. The Wage and Hour Division notes that under the Fair Labor Standards Act (FLSA), once employees work 40 hours in one week, each hour after that is required to be paid at
Whether you have employees who don’t feel ready to return to the office or are simply considering whether there would be benefits to reinstating in-person client meetings, you want to know all of your options. Here’s what you’ll need to consider before deciding what is right for your firm. Working
The pandemic has prompted many companies to transition to a remote workforce or develop new sales channels, business partners, or suppliers and distributors, all of which can affect sales tax compliance. One thing a CPA can do is help set your small business clients up for success in 2022 with
The end of the year is an important time to reflect. As we gather for holidays and wait for the ball to drop, there is an exciting sense of optimism for what’s next. We come together to celebrate what worked in the last 12 months, as well as acknowledge what
With advancements in technology and accountant-specific services, having a payroll service model for your firm has become a no-brainer. It’s no longer, “Do I offer payroll or not?” It’s, “Why not both?” If you’ve thought, “Payroll isn’t really for my firm,” you may have been right…in the past. But that’s
Accounting and finance professionals have an opportunity to focus their attention on helping small businesses move forward in the face of the lingering effects of the COVID-19 pandemic. Because accounting and finance professionals are by nature excellent at analysis and innovation, they can focus on cash flow management, supply chain
Section 1202 can exclude long-term capital gain on the sale (or sales) of stock in a C corporation. It is one of the current incentives for operating as a C corporation. There are different rules depending on when the “qualified small business stock” was acquired. The stock needs to be
