A trial balance is an accounting tool that helps businesses determine if the double entry accounting system has any mathematical errors. Once the trial balance is worked through, and the...
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Funding the Government, Protecting Americans from Misuse of Data, Expanding Internet Access and Improving Recycling
Consolidated Appropriations Act, 2024 (HR 4366) – On March 9, the president signed the latest appropriations bill passed in time to halt a government shutdown. While this bill does authorize...
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Importance of Fostering Digital Trust in Today’s Businesses
Modern business today is dominated by digital transactions and interactions. Businesses are increasingly storing customers’ personal information, which is potentially accessible without the customers’ knowledge or consent. Therefore, understanding the...
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April is Financial Literacy Month: How Much Do You Know?
What started as Youth Financial Literacy Day some years ago is now a monthlong event: Financial Literacy Month. It all started in 2003 when some U.S. legislators got together and...
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Part 1: Pre-Retirement Planning Guide
One of the more insightful quotes of baseball great Yogi Berra was, “If you don’t know where you’re going, you’ll end up someplace else.”When you’re young, first starting out in...
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Defining Burn Rate, Gross Burn and Net Burn
When it comes to any business, but especially for a start-up, it’s essential to determine how long a company can survive before it must declare bankruptcy and/or close its doors....
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Reduce Your Taxes by Putting the Right Assets in Your IRA
Most people know the basic concept that certain types of investment accounts are tax sheltered while others are not. Think 401(k), 403(b), IRA and Roth IRA accounts, for example. What...
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Contingent Liability Defined
As the name implies, a contingent liability for a business does not always happen and depends on how the future unfolds. When it comes to a business analyzing a contingent...
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Debating U.S. Border Policies and Foreign Aid, Providing Tax Relief Before Tax Season, and Training More Nurses
The Emergency National Security Supplemental Appropriations Act (HR 815) – Formerly known as the RELIEVE Act, this bill was originally written to improve veteran eligibility for reimbursement for emergency treatment....
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Deepfakes and Social Engineering: The New Face of CEO and CFO Fraud
Technological advancements have ushered in a new era of cybercrime, with deepfakes and social engineering tactics at the forefront of fraudulent activities. CEO and CFO fraud has become increasingly widespread,...
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March Financial To-Do List
Ready or not, spring is right around the corner, and it’s the perfect time to get in fiscal shape for the rest of the year. However, tax preparation isn’t the...
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What to Know About the Art Donation Deduction
If you would like to donate artwork to an eligible charitable organization, you might be able to take a deduction on your tax return. However, the rules are complex. There...
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Actions Lottery Winners Should Consider
We all have those days when we dream of striking it rich with a winning lottery ticket. Never having to work again while living a life of luxury. While your...
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U.S. Beneficial Ownership Information Reporting Begins
The U.S. Treasury recently enacted a new reporting requirement aimed at quashing illicit financial transactions. The agency believes that corporate anonymity is enabling money laundering, terrorism, and drug trafficking. As...
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