Many banks conduct regular “stress” tests to predict the impact of adverse external events on their earnings, capital and loan portfolios. Banks use the results to shore up any revealed weaknesses. Investors should periodically perform similar stress tests on their investment portfolios. Stress testing is the ultimate “what if” analysis. It uses modeling techniques to [...]
Like most business owners, you’ve probably heard about 100% bonus depreciation. It’s available for a wide range of qualifying asset purchases. But there are many important details to keep straight. Here are five key points about this powerful tax-saving tool. It’s scheduled to phase out. Under current law, 100% bonus depreciation will be phased out [...]
During the pandemic, more than a few families have hired household workers while schools in many areas have gone virtual and some day care centers have had limited availability. If you’ve done so, be sure you know the nuances of the “nanny tax.” WITHHOLDING TAXES For federal tax purposes, a household worker is anyone who [...]
How to Track Inventory in QuickBooks Knowing where you stand with your company’s product count is crucial. QuickBooks can help you stay current. If your company sells physical products, you know how important it is to always be aware of your stock levels. You have to know what’s selling and what’s not. And you need [...]
If you’re a partner in a business, you may have encountered a situation that gave you pause. In any given year, you may have been taxed on more partnership income than was distributed to you. The cause of this quirk of taxation lies in the way partnerships and partners are taxed. Unlike regular corporations, partnerships [...]
Many young adults are heading off or back to college in the fall. It’s particularly exciting this year because of high hopes that, thanks to mass vaccinations, students will be able to have something approaching a traditional college experience. If your child has been awarded a scholarship, that’s cause for celebration, too! But be aware [...]