Protect Your Child from Identity Theft
Cybercriminals target children for identity theft because kids have unblemished credit histories that tend to be infrequently reviewed. That means a fraud may go undetected for years, often until the child has a credit report run when applying for a job or student loan. Identity theft among people under 18 is on the rise. Today’s…
Six Steps for Preparing to Sell Your Business
If you’re planning to sell your business, it’s a good idea to “dress” your business for success to help attract the most potential suitors. Here are six steps to M&A success.
Advantages and Strategic Considerations for Government Contractors with Commercial Clients
Generated by AI and edited by Paul Calabrese, Principal Government contractors who also serve commercial clients are uniquely positioned to leverage diverse opportunities while navigating complex regulatory environments. This dual engagement offers significant benefits but also requires careful management of compliance and operational strategies. Understanding the dynamics and strategic considerations of this business model provides…
Treating a Stock Purchase as an Asset Acquisition
When it comes to acquiring a business, stock and asset purchases have their advantages and disadvantages but there might be a way to combine the best of both worlds. This article explains how a Section 338 election might suit the interests of the buyer and the target company.
ACFE Study Finds Median Losses from Occupational Fraud Increasing
Every two years, the Association of Certified Fraud Examiners (ACFE) publishes a study detailing the costs, schemes, perpetrators and victims of occupational fraud. “Occupational Fraud 2024: A Report to the Nations” covers more than 1,900 cases of white-collar crime, occurring in 138 countries. Consistent with previous biennial studies, the 2024 report estimates that the typical…
How Catch-Up Contributions Can Bolster Retirement Savings
If you’re age 50 or older, you can make extra “catch-up” contributions to certain types of retirement accounts. Many people fail to capitalize on this opportunity because they haven’t looked at the significant impact these extra contributions can have on their retirement-age wealth. If you’re worried that you won’t have enough money saved to be…
Setting Sail: Why Now is the Time to Get Onboard with Accounting Automation
Generated by AI and edited by Heather Broberg As we navigate the ever-changing waters of business, it’s essential to have the right tools and strategies to chart a course for success. And what better time than now to hoist the sails of accounting automation and set course for smoother, more efficient financial operations? Just like…
Sage Q2 2024 Release: Knocking Down Barriers
Available as of Friday, February 16, Sage Intacct’s first release of 2024 includes new features and functionality that elevate the work of humans with AI and automation. The updates highlighted below include enhancements across three major themes: 1. Seamless data integration, 2. Automation advancements, and 3. Industry insights, to boost organizational efficiency and enhance decision-making insights.
Installment Sales Can Be a Win-Win for Buyers and Sellers
For federal income tax purposes, an installment sale is when at least one payment of proceeds from an eligible sale is deferred until after the end of the tax year in which the sale occurs. This setup can be beneficial for a buyer that doesn’t have enough available cash to immediately pay the full purchase…
Do You Qualify for Head of Household Status?
The head of household (HOH) federal tax filing status is often misunderstood by taxpayers who might qualify, including single, divorced or legally separated parents, and taxpayers who support adult family members. However, it’s worth exploring, because you could reap substantial savings at tax time. Benefits of HOH Status The IRS enumerates several advantages from qualifying…