Predicting future performance

Predicting future performance

CPAs typically report historical financial performance. But sometimes they’re hired to predict how a company will perform in the future. Prospective reporting options There are three types of reports to choose from when predicting future performance: Forecasts. These...
Hire your children this summer: Everyone wins

Hire your children this summer: Everyone wins

If you’re a business owner and you hire your children (or grandchildren) this summer, you can obtain tax breaks and other nontax benefits. The kids can gain on-the-job experience, save for college and learn how to manage money. And you may be able to: Shift your...
Close-up on financial statements

Close-up on financial statements

There are three types of financial statements under U.S. Generally Accepted Accounting Principles (GAAP). Each one reveals different, but equally important, information about your company’s financial performance. And, together, they can be analyzed to help owners,...
Selling your home? Consider these tax implications

Selling your home? Consider these tax implications

Spring and summer are the optimum seasons for selling a home. And interest rates are currently attractive, so buyers may be out in full force in your area. Freddie Mac reports that the average 30-year fixed mortgage rate was 4.14% during the week of May 2, 2019, while...