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FASB’s proposed updates on software development accounting

FASB’s proposed updates on software development accounting

The Financial Accounting Standards Board (FASB) proposes changes to accounting for internal software development costs. Learn about the proposed changes and how they might affect your company's financial reporting.
U.S. consumer confidence improves to highest level in more than a year

U.S. consumer confidence improves to highest level in more than a year

Consumer confidence edged up in November to its highest level in more than a year, driven by improved sentiment about both the current economic situation and future expectations.
IRS extends the research credit claim transition period to Jan. 10, 2026

IRS extends the research credit claim transition period to Jan. 10, 2026

The IRS has announced it will extend the research credit claim transition period, which was set to expire in January 2025, an additional year to Jan. 10, 2026. The IRS continues to require detailed information at the time of claiming the research credit.
Simplify Tax Season: A Glossary of Key Tax Terms

Simplify Tax Season: A Glossary of Key Tax Terms

Navigating the complexities of federal taxes can be daunting, especially with confusing terminology and upcoming tax law changes. This article defines 20 essential tax terms, from "adjusted gross income" to "wash sales," to help you better understand your obligations and opportunities. Whether you're a business owner or individual taxpayer, this glossary will help make the tax season more manageable. Learn the language of taxes and prepare for 2025's potential changes—read the full article.
Why Your Cybersecurity Strategy Needs Physical Security to Match

Why Your Cybersecurity Strategy Needs Physical Security to Match

Physical and digital security are no longer separate concerns for small businesses. This article explores how these risks are intertwined, with examples such as physical theft leading to data breaches. Learn practical solutions, including employee training, mobile device management, and professional evaluations, to safeguard your business assets. Don't overlook the importance of proactive measures—read the full article to fortify your defenses.
Is Your Business Ready for the Future? The Essential Guide to Succession Planning

Is Your Business Ready for the Future? The Essential Guide to Succession Planning

Creating a succession plan is essential for business owners looking to preserve their legacy. This article discusses how to define your succession goals, select an appropriate exit strategy, and prepare your management team for future success. Learn how a well-thought-out plan can help minimize family discord, reduce tax burdens, and secure your business's future. Read the full article for detailed insights.
Understanding the Kiddie Tax: Tips for Parents to Save on Taxes

Understanding the Kiddie Tax: Tips for Parents to Save on Taxes

The kiddie tax can impact children with unearned income, taxing it at the parents' higher marginal rate. This article outlines the basic rules of the kiddie tax, the thresholds for 2024, and tips on how to minimize its impact. Strategies such as generating earned income, making tax-smart investment choices, and utilizing tax-advantaged accounts can help reduce the kiddie tax burden. Read the full article to understand how you can protect your child’s financial future while navigating the kiddie tax rules.
Navigating Key Federal Tax Changes: Social Security, HSAs, and More

Navigating Key Federal Tax Changes: Social Security, HSAs, and More

The federal tax landscape is evolving, with new updates on gambling winnings, Social Security increases, and Health Savings Accounts. This article breaks down recent changes for 2025, including contribution limits for HSAs and adjustments to Social Security benefits. It also explains the process of recovering lost tax records and how you can authorize a representative to handle your IRS matters. Read the full article for more details on how these changes could impact your tax planning.
Estate Planning for Couples: The Pros and Cons of Joint vs. Separate Trusts

Estate Planning for Couples: The Pros and Cons of Joint vs. Separate Trusts

Revocable trusts can be a powerful tool for married couples looking to streamline their estate planning. But should you choose a joint trust or separate trusts? This article delves into the key factors that will influence your decision, including asset control, estate tax exemptions, and creditor protection. We also explore how your choice could affect your tax exposure and provide tips on how to structure your trust to meet your long-term goals. Read on for more detailed guidance.
A Tax-Wise Strategy for Individuals and Businesses for Health Savings Accounts

A Tax-Wise Strategy for Individuals and Businesses for Health Savings Accounts

Health Savings Accounts (HSAs) are an effective way to save for medical expenses while enjoying tax benefits. In this article, we explore HSA basics, including contribution limits for 2025, the tax-free growth of unused funds, and the portability of these accounts. HSAs are also beneficial for businesses and employees alike, allowing for reduced premiums and employer contributions. Learn more about how HSAs can help you control medical costs and improve your financial health. Read the full article for more.
What You Need to Know About Borrowing from Your Retirement Plan

What You Need to Know About Borrowing from Your Retirement Plan

Borrowing from a retirement plan, such as a 401(k), can be a convenient way to access funds, but it comes with risks. This article explains the potential tax consequences if the loan is not repaid on time, including penalties and taxable distributions. It also discusses loan limits, how interest is treated for tax purposes, and exceptions that may apply depending on the type of plan. To avoid financial pitfalls, it's essential to understand the rules and consult a tax adviser before borrowing. Read the full article for detailed guidance.
Streamline Your Billing Process: Tips for Dispute Resolution

Streamline Your Billing Process: Tips for Dispute Resolution

Billing disputes can strain relationships with customers and delay payments. This article explores how categorizing customers and setting strict deadlines can lead to quicker resolutions. It also emphasizes the importance of improving collections processes for smoother transactions. Read the full article for practical steps to resolve disputes and maintain healthy cash flow.
AI trends in state and local government

AI trends in state and local government

Learn about innovative AI solutions RSM has developed to address critical state and local government challenges.
How New QCD Rules Can Help Your Nonprofit Engage Donors

How New QCD Rules Can Help Your Nonprofit Engage Donors

Qualified Charitable Distributions (QCDs) enable eligible donors to make impactful gifts directly from their IRAs while enjoying tax benefits. This article covers the essentials of QCDs, including recent updates under the SECURE 2.0 Act that increase annual limits and introduce new options through split-interest entities. Learn how nonprofits can boost donations by informing supporters about these opportunities and illustrating how contributions benefit the organization’s mission. Read the full article to find out more.
Essential Tips for Managing and Safeguarding Nonprofit Credit Card Use

Essential Tips for Managing and Safeguarding Nonprofit Credit Card Use

To prevent credit card misuse, nonprofits need a solid policy, clear rules, and strong oversight. This article provides guidance on creating effective credit card policies, setting clear rules for use, and implementing procedures for preapproval and review. Protect your organization’s finances by taking proactive steps to reduce the risk of employee credit card misuse. Read the full article for a detailed guide on best practices.
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