Taking over your aging parents’ finances is not easy. But it’s something that can be handled in an organized, compassionate way. Here’s a roadmap that shows how to embrace it and do the right things for everyone involved. Start the conversation early. Right now, your parents...
One of the easiest ways to save for retirement is to participate in an employer-sponsored retirement plan. You simply select a percentage of your paycheck that you would like transferred to your 401(k) (or similar) account. Not only does your employer make the transfer for...
For several years now, the IRS has required payments made to merchants through various marketplaces, payment processors (credit & debit cards), and third-party settlement organizations (TPSOs) to be reported on Form 1099-K. The purpose being to uncover merchants that do not report all of their...
Few things have captured the attention of so many people in recent memory like the word-based game Wordle. It's one part crossword, one part Sudoku — players have to guess the word of the day through equal parts strategy and luck. Based on their guesses,...
One of the most important things to understand about selling a business is that this is not a decision that should be made lightly. This is true both in terms of who you sell to and with regard to what will happen to your finances after...
According to research by Family Enterprise Foundation, younger generation owners are the most committed to preserving the family business. A survey found that “97 percent of next-generation respondents consider it important to sustain the family business, while only 74 percent of senior-generation respondents feel the...
This article discusses a variety of trends that small businesses should either be focusing on or not as we continue along in 2022. For example, this link lists shipping status, waiting for the new normal, and the meta-verse as overrated trends that your small business...
This article explains the importance of keeping your estate plan up to date, especially since people are living longer and need more options in their documented life. Three sections in your estate plan that should be examined several times include digital assets, guardianship designations, and...
Deetra Watson was recently featured on the Journal of Accountancy Podcast's episode Not-for-profit Audits in a Remote World. She chatted with host Neil Amato about the: current landscape of auditing not-for-profit clients main obstacles not-for-profits faced when forced to have their audits done remotely benefits of...
This article discusses how fraud is one of the most concerning topics for start-ups and small businesses alike due to the highly digitalized world that we live in today. It is so prevalent that “organizations report losing 5 percent of their annual revenue to fraud.”...
