To help pay for health care costs, many people now contribute to, or are thinking about setting up, Health Savings Accounts (HSAs). With a Health Savings Account, individuals can pay for certain medical expenses on a tax advantaged basis. The basics of HSAs HSAs allow you take more responsibility for
If you own an interest in a closely held business, it’s critical to have a well-designed, properly funded buy-sell agreement. Without one, an owner’s death can have a negative effect on the surviving owners. If one of your co-owners dies, for example, you may be forced to go into business
Collecting your accounts receivable (AR) in a timely manner can head off multiple financial issues for your company, including poor cash flow and the inability to pay bills. Here are 5 ways to manage your your receivables for more timely collections: 1. Re-evaluate your invoices. Customers prefer bills that are
When planning your estate, you’re likely focused on major assets, such as real estate, investments and retirement plans. But it’s also important to “sweat the small stuff” — your tangible personal property. Examples include jewelry, antiques and photographs. These personal items — which often have modest monetary value but significant
Every financial transaction your company records generates nonfinancial data that doesn’t have a dollar value assigned to it. Though auditors may spend most of their time analyzing financial records, nonfinancial data can also help them analyze your business from multiple angles. Gathering audit evidence The purpose of an audit is
The Section 179 depreciation deduction for business property gives businesses some good news. The election has long provided a tax windfall to businesses, enabling them to claim immediate deductions for qualified assets, instead of taking depreciation deductions over time. And, it was increased and expanded by the Tax Cuts and
Dalby, Wendland & Co., P.C., congratulates these exemplary professionals on their promotions as they represent our core values of integrity, quality, and community investment, and our core purpose to help our clients, our people, and our communities to be better. Vicki L. Goetter, PAFM, joins DWC as new COO Dalby
Rachel M. Schlepp, CPA This is true, whether you realize it or not. The regular compliance work that your accountant does on a monthly, quarterly, or annual basis gives us accountants a lot of intimate knowledge about your business, about your investments, and about your family. It’s not
If you are thinking about buying or selling a business, or if you are already in the process of a merger or acquisition, it’s important to ensure that both parties report the transaction to the IRS in the same way. Not doing so may cause a “red flag” with the
One of the biggest benefits a company can provide to employees is a good retirement plan; however, they are not all equal. If you could grade your company’s retirement plan, what would you give it in preparing its participants for retirement? Benchmarking can tell you. Mark the Basics You probably
