Blog
Spring Clean Your QuickBooks
Have your company’s accounting records become cluttered with duplicate items and unused accounts? When you need to revise your QuickBooks® lists — such as the chart of accounts, customers and vendors — the software provides methods for deleting, inactivating and merging list entries. Here’s what you can do to help
Happy Graduation to the Class of 2023
Congratulations to these graduating employees and family members of employees - we wish you and all graduates much success!
The “Step-Up” Basis Rules of Inheriting Property
A common question for people planning their estates or inheriting property is: For tax purposes, what’s the “cost” (or “basis”) an individual gets in property that he or she inherits from another? This is an important area and is too often overlooked when families start to put their affairs in
Make Sure to Plan for Long-Term Care Needs
No matter how diligently you prepare, your estate plan can quickly be derailed if you or a loved one requires long-term home health care or an extended stay at an assisted living facility or nursing home. Long-term care (LTC) expenses aren’t covered by traditional health insurance policies or Medicare. So
Updated Accounting Rules for Common Control Leases
On March 27, 2023, the Financial Accounting Standards Board (FASB) published narrowly drawn amendments to the lease accounting rules. The updated guidance clarifies issues that are relevant to rental agreements between businesses that have the same owner. Written vs. Verbal Leases Accounting Standards Update (ASU) No. 2023-01, Leases (Topic 842)
Dalby, Wendland & Co., P.C., Rebrands and Celebrates 75th Birthday
Dalby, Wendland & Co., P.C., is changing its name to DWC CPAs and Advisors. The firm’s rebrand marks a milestone year as the full-service public accounting firm celebrates 75 years of serving western Colorado. During the coming months, the firm will initiate a new “look” with an updated logo and
Draft a “Road Map” to Help Guide Your Estate Plan Wishes
No matter how much effort you’ve invested in crafting an estate plan, your will, trusts and other official documents may not be enough. Consider also drafting a “road map.” Essentially, it’s an informal letter that guides your family in executing your plan according to your wishes. What to Address A
Benefits of Choosing an S Corporation for Your New Business
If you’re starting a business with some partners and wondering what type of entity to form, an S corporation may be the most suitable form of business for your new venture. Here are some of the reasons why. A big benefit of an S corporation over a partnership is that as
Get More From Your Company’s Income Statement
What do you do with your financial statements after your CPA delivers them? If you’re like most business owners and managers, you breathe a sigh of relief that they’re finished, file them away and go back to running the business. But financial statements can be a useful tool to help
Tax Advantages of Hiring Your Child This Summer
Summer is around the corner so you may be thinking about hiring young people at your small business. At the same time, you may have children looking to earn extra spending money. You can save family income and payroll taxes by putting your child on the payroll. It’s a win-win!