News & Resources

How to Report Software Costs

  What do Tesla cars, smart TVs and equipment used for making french fries have in common? The answer is embedded software, according to recent comments by Financial Accounting Standards Board (FASB) Vice Chair James Kroeker. He also told the

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Is It Time to Update Your Accounting Practices?

  If you ask some business owners why they do things a certain way, they might answer, “Because we’ve always done it that way.” But with all the changes that have taken place in the financial and accounting realm, doing

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How Savings Bonds Are Taxed

  Many people have savings bonds that were purchased many years ago. Perhaps they were given to your children as gifts or maybe you bought them yourself. You may wonder how the interest you earn is taxed. And if they

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What to Do if Your CFO or Controller Leaves

  A leadership departure in your accounting department can create turmoil, at least temporarily. However, it also provides an opportunity to assess the department’s performance and create a vision for how it should perform in the future. Here are four

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Adopting a Child? Bring Home a Tax Break Too

  Two tax benefits are available to offset the expenses of adopting a child. In 2022, adoptive parents may be able to claim a credit against their federal tax for up to $14,890 of “qualified adoption expenses” for each child.

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Year-End Giving to Charity or Loved Ones

  The holiday season is here and many people plan to donate to their favorite charities or give money or assets to their loved ones before the end of the year. Here are the basic tax rules involved in these

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Preparing for Year-End Inventory Counts

  How accurate is the amount reported in your company’s perpetual inventory system? To best answer that question, a physical count is essential at year end. For calendar-year entities, year end is fast approaching on December 31. Planning Tips Though

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