Sun.Feb 16, 2025

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Operating as a C Corporation: Weigh the Benefits and Drawbacks

RogerRossmeisl

When deciding on the best structure for your business, one option to consider is a Ccorporation. This entity offers several advantages and disadvantages that may significantly affect your business operations and financial health. Heres a detailed look at the pros and cons of operating as a C corporation. Tax implications A C corporation allows the business to be treated and taxed separately from you as the principal owner.

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Reversing Direct Deposit Payroll Checks inside QBO Payroll

Insightful Accountant

Murph takes you through the steps for using the recent enhancement that allows you to reverse a Direct Deposit Payroll Check from within QuickBooks Online Payroll.

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Savings Bonds and Taxes: What You Need to Know

RogerRossmeisl

When considering the advantages of U.S. Treasury savings bonds, you may appreciate their relative safety, simplicity and government backing. However, like all interest-bearing investments, savings bonds come with tax implications that are important to understand. Deferred interest Series EE Bonds dated May 2005 and after earn a fixed rate of interest.

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Tax Treatment of Intangible Assets

RogerRossmeisl

Intangible assets, such as patents, trademarks, copyrights and goodwill, play a crucial role in todays businesses. The tax treatment of these assets can be complex, but businesses need to understand the issues involved. Here are some answers to frequently asked questions. What are intangible assets? The term intangibles covers many items. Determining whether an acquired or created asset or benefit is intangible isnt always easy.

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What Your Financial Statements Are Telling You—And How to Listen!

Speaker: David Worrell, CFO, Author & Speaker

Your financial statements hold powerful insights—but are you truly paying attention? Many finance professionals focus on the income statement while overlooking key signals hidden in the balance sheet and cash flow statement. Understanding these numbers can unlock smarter decision-making, uncover risks, and drive long-term success. Join David Worrell, accomplished CFO, finance expert, and author, for an engaging, nontraditional take on reading financial statements.

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It’s Critical to Set the Stage Before Valuing a Business

RogerRossmeisl

Before you contact a business valuation professional, ask yourself the following five questions to help streamline the valuation process and avoid unnecessary confusion down the road: (1) Whos hiring the valuator? The party that hires a valuation expert is typically responsible for putting up a retainer and paying the invoices. Attorneys may ask the client to hire the valuator directly to avoid collection issues.

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Adoption Tax Credits: Easing the Financial Journey of Parenthood

RogerRossmeisl

There are two tax breaks that help eligible parents offset the expenses of adopting a child. In 2025, adoptive parents may be able to claim a credit against their federal tax for up to $17,280 of qualified adoption expenses for each child. This is up from $16,810 in 2024. A tax credit is a dollar-for-dollar reduction of tax. Also, adoptive parents may be able to exclude from an employees gross income up to $17,280 in 2025 ($16,810 in 2024) of qualified expenses paid by an employer under an adopt

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