by Lori Bowden | Jul 3, 2025 | Tax & Accounting
Once a tax return is filed, most people breathe a little easier. But it’s not uncommon to realize too late that something was left off a return, figures were misreported or some other error was made. Accuracy is essential, but, depending on the type of error, an...
by Lori Bowden | Jul 2, 2025 | Tax & Accounting
Bartering is simply the exchange of services or property, and it’s a taxable event. For example, if a computer consultant trades services with an advertising agency, each must report income equal to the fair market value of the services they received, typically the...
by Lori Bowden | Jul 1, 2025 | Tax & Accounting
Businesses close for various reasons. Perhaps you’re ready to embark on a welcome change such as retirement or launching a new venture. Or maybe it just no longer makes financial sense to continue operating your current business. Whatever the reason, closing your...
by Lori Bowden | Jun 4, 2025 | Tax & Accounting
The accounting method your business uses to report income for tax purposes, either cash or accrual, can significantly impact your tax bill. While the cash method can offer tax-saving opportunities, the accrual method may in some cases be more appropriate or even...
by Lori Bowden | Jun 3, 2025 | Financial Planning, Tax & Accounting
Ever since you became a business owner, you’ve focused on growing revenue, managing expenses and leveraging tax advantages. But don’t overlook a critical element of your long-term financial well-being, that is, a business exit strategy. Ideally, your exit strategy...
by Lori Bowden | Jun 2, 2025 | Financial Planning, Tax & Accounting
If you’re thinking about helping a child or grandchild pay for school, you’re not alone, and you’re not without help. While families have always saved for education, Section 529 plans have made it easier and more tax-efficient. Tax Advantages With a 529 plan, your...
