Frequent movement of people across tax jurisdictions is a reality today. Globalization has ensured that geography no longer matters and geographical borders are a thing of the past as people move from one country to another undeterred by physical or regulatory boundaries. Companies too find that it is easier to depute personnel from one country […]
Starting with tax year 2017, certain reporting requirements have changed for filing Form 5472. Form 5472 is an information return for a US Corporation engaged in a US trade or business with foreign ownership of more than 25%. Information is required to be provided under sections 6038A and 6038C of the Internal Revenue Code. (IRC) […]
While making a charitable contribution is relatively simple, a few additional precautions can help maximize tax benefits, and ensure they truly benefit the causes you care about. Contributions made to qualified charitable organizations can be deducted if you itemize deductions on your tax return. Itemized deductions include amounts paid for charitable contributions, medical expenses, state […]
Your credit score is the yardstick that lenders use to measure whether you are creditworthy and capable of repaying your credits on time. A credit history packed with late payments and debts can severely cripple your chances of qualifying for credit at a better interest rate and credit terms. So before you fill out an […]
No matter your age or net worth, you need to make legal arrangements for control of asset distribution after you. In case of death without a will / other legal steps, the assets will be distributed according to the law of the respective state to which the individual belongs. You can consider gifting to heirs […]
The story behind the name of the bitcoin and blockchain technology is fascinating. Even more compelling is the wide-ranging application of the technology. For accountants and auditors, blockchain has the potential to dramatically alter the set way of going about business, especially when combined with other innovations such as machine learning. Because accounting records contain […]
For a small business, an inexpensive tool to build brand awareness and promote service is social media. With the internet comes speed & efficiency, but a firm focus on basics and careful responses with an eye on reputation building is required. Discussed in this article are a few tips on social media business etiquette. Social […]
Your company is doing well, and bringing in new clients. But even if business looks good on paper, one problem can prevent your company from thriving – a lack of cash. Being paid on time ensures that your cash flow remains healthy. Although a majority of clients will pay without a problem, there are occasions […]
Most accounting professionals will experience fraud in their organizations at some point in their careers. Some will be unfortunate enough to have it happen more than once. While it is never possible to completely eliminate fraud, there are best practice strategies that your organization can put in place to detect it early before it gets […]
For small business owners, accepting payments in new ways can be confusing. Fraud and security-related issues might make them reluctant to receive payments through online payment methods, but to keep up with the advent of new technologies and accommodate how most customers want to pay, one should welcome change to allow for growth and expansion. […]
