Until now, there haven't been any specific accounting rules for cryptocurrency assets you may have. After all, crypto economics can be volatile. The price of bitcoin fell from $47,816 in January to $19,557 this month, according to YCharts. After putting…
Accounting
Because inflation's forced the Fed to raise interest rates, making the cost of capital higher, it's mission-critical to carefully manage the cash your company has on hand to avoid going outside your own cash flow for working capital. That's the…
Cooler temperatures and falling leaves are signs that the countdown to year-end is on for your Finance team. The transition from thinking about vacation getaways to tax filing deadlines will happen slower for some. But if you start noticing a…
With the first official day of fall almost here, your Finance team needs to start getting ready for year-end. And a good place to start is ensuring you're submitting accurate info to IRS about your independent contractors and that they…
Economic unpredictability may be giving senior leadership and shareholders second thoughts about your 2023 budget priorities. Here's what some experts are saying about the approaches your peers may be taking with their 2023 budgets, which can give you some budgeting…
National Preparedness Month is every September, and IRS is reminding employers to boost their disaster preparedness and ensure their important Finance records are protected. Between hurricanes, wildfires and other severe weather conditions, it’s key for companies to regularly review and…
The state of small businesses can give companies of all sizes insight into how to weather the economy right now, particularly the challenges caused by inflation. Specifically, cash flow is a significant concern for small businesses. Nearly 40% would have…
IRS just announced widespread penalty relief for many business and individual taxpayers who may have filed certain returns during the COVID-19 pandemic. Much of the penalty relief was extended due to an unprecedented backlog IRS experienced while attempting to process…
IRS has announced that interest rates will rise for the fourth quarter of 2022 – a decision that should come as no surprise based on the current state of the economy. Per the agency, the rates will increase for both…
The Inflation Reduction Act aka "Build Back Better Lite" looks like a done deal. The $740 billion package is chock full of tax hikes for some and tax breaks and credits for others. Passed along purely partisan lines 51-50, Democrats…
With several states recently passing legislation restricting access to abortion services, some of your peers have been mulling over paying for medical care travel expenses that employees and their dependents incur because the services they seek are unavailable in their…
Many of the vendors you work with may be among the more than 2,300 U.S. businesses that accept the cryptocurrency bitcoin, according to a report from Deloitte. There may be even more businesses exploring cryptocurrency right now because, unlike cash,…
