Disclosure: Our goal is to feature products and services that we think you’ll find interesting and useful. If you purchase them, Entrepreneur may get a small share of the revenue from the sale from our commerce partners. Are you ready for tax season? Taxes for entrepreneurs are notoriously complicated, especially
Downloading data and documents from Dext and QuickBooks Online and archiving them as part of the shutdown process can lead to unexpected surprises, as I found recently working with a business client. Specifically, as part of the process of winding things down with my client’s business, I am cancelling her
When is a vacation rental not classified as residential real estate? When it’s a short-term rental leased out for less than 30 days at a time, it’s recognized as nonresidential real property and therefore subject to a 39-year depreciation period, not residential real estate’s 27.5-year depreciation period. But since Sec. 179(b)(3) excludes property
Although all sales transactions are presumed taxable in states with a sales tax (unless there’s a specific exemption or exclusion), most states haven’t yet clarified which sales tax laws apply to sales made in the metaverse. When will they start? And how will they go about it? David Lingerfelt, senior
What does your firm spend on technology? Do you get the return on investment you expect? Is your technology up to date? Are you focused on maintenance or innovation? The answers to these questions are often subjective in firms with multiple partners. In other words, different people have different value
If you’re just joining in, I recommend that you read the first part in this series. There, I summarize the Section 1244 rules and explain how these rules can affect investors. This article, part two, will focus on additional aspects of the rules. In the year that 1244 shares are
As the saying goes, “There is no friend like an old friend.” The same may be true in your professional life, as long-standing client relationships are often the most satisfying. They reinforce what it means to truly be a professional, guiding and advising clients across the arc of their working
You probably know a spendthrift, someone who is into instant gratification, taking expensive vacations or renovating their home by writing checks on their home equity line of credit, all while their credit card balance continues to rise. These people may be your neighbors, friends or even your clients. If the
Transition Advisors and Whitman Business Advisors have merged to form Whitman Transition Advisors (WTA), effectively creating one of the largest M&A and consulting organizations focused exclusively on CPA firms in the U.S. WTAs suite of services includes mergers and acquisitions, talent acquisition, owner succession consulting, partner retreats and business advisory
For auditors, material misstatements are the enemy and if they sneak in without detection, we fail. Maybe they enter in by error, other times on purpose: it doesn’t matter. They often secret themselves in myriad places: receivables, equity, inventory, payables, investments, or a debt disclosure, just to name a few.