Financial Poise

Articles tagged: Accounting-Auditing-Taxation

an abstract artwork for an abstract concept: SOC report

That’s SOC, Not SOX: SOC Reports Audit the Safety of Company Data

An SOC report tells business owners, buyers and fiduciary directors if their data is being safely managed by a service organization. Should you request one?

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Revenue recognition changes, like this business using credit cards, impacts business practices

The Impact of Revenue Recognition Changes to Business Practice

Changes to revenue recognition standards took effect in 2019 for private companies. See how your business practices should change.

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Cannabis like this, on a desk blotter, represents the marijuana taxes that cannabis companies must pay

Cannabis Companies and the Marijuana Tax: It’s Not Easy Being Green

Cannabis companies are overwhelmed by taxation and restrictions on their expense deductions via Section 208E, but new legislature may ease the pressure.

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people packing food pantry boxes, representing charitable donations

Making Charitable Donations: Seven Practical Considerations

Being Selfless While Also Watching Out For Your Wallet You may desire to be philanthropic, but handing over money may not be the most effective way to make charitable donations. Donors must confront many issues before making substantial gifts to a charity.  If you’re considering making a donation to a nonprofit, here are seven practical […]

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Business District representing financial statements

‘Know Thy Numbers’ Installment #3: Types of Financial Statements

From the statement of income to the statement of cash flows, here’s how various types of financial statements present a bigger picture of company health.

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glasses resting on a textbook of accounting principles

‘Know Thy Numbers’ Installment #2 – Accounting Principles in a Nutshell

GAAP rules are accounting principles and concepts that shape how we present financial information. These are the 12 “Commandments” of GAAP accounting.

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a calculator which says Don’t leave numbers to the accountant. If you don't know your numbers, you don't know your business. 

‘Know Thy Numbers’ Installment #1 – Welcome to the Jungle, an Introduction to the Series

Don’t leave numbers to the accountant. An introduction to accounting and its basic concepts can equip you to make better business decisions. 

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blue skies, representing putting off the tax man with 1031 exchanges

Putting off the Tax Collector – The Basics of 1031 Exchange Rules

Hold off the tax man by following these 1031 exchange rules when selling and reinvesting in new properties.

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gauzy beach scene symbolizing IRA beneficiaries, 401ks, and tax hikes

Will an Unapologetic Tax Hike Affect Your 401(k) or IRA Beneficiaries?

You worked a lifetime to grow your retirement fund. Now, pending bills in DC may speed taxes on retirement benefits and impact 401k and IRA beneficiaries.

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monk with children, symbolizing charitable giving

Using Your Assets for Good: Incorporating Charitable Giving into Your Financial or Estate Plan

Charitable giving is a rewarding process, but donors should be aware of the tax implications (and benefits) of each philanthropic approach.  

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