Insights · Page 6
Practical perspectives on tax, finance, and business — written by the people who work in it every day. 88 articles in the archive.
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Resources Jul 9, 2024Controller vs CFO – Which One Do You Need?
Choosing between a controller and a CFO is crucial for any business, especially as it grows and its financial needs become more complex. The main difference between a controller and a chief financial officer (CFO) is that controllers focus on detailed financial reporting and…
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Taxes Jul 3, 2024Top 15 Tax Deductions for High Earners
High-income earners often face substantial income taxes every year. However, with strategic financial planning, it’s possible to significantly reduce taxable income and maximize available tax deductions.
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Resources Jun 27, 2024CFO vs VP of Finance
Chief Financial Officer (CFO) and Vice President of Finance (VP of Finance) are two high-level finance roles. These professionals oversee different aspects of a company’s finances and work to ensure maximum profitability.
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Entity Structuring Jun 19, 2024Best Business Structure for Asset Protection
The best business structures for asset protection are limited liability companies—because of their inherent asset protection and flexibility—and corporations due to their more robust asset protection mechanisms.
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Transaction Advisory Jun 11, 2024M&A Integration Finance Checklist for Future Success
Mergers and acquisitions are often motivated by an expectation of revenue synergy and cost savings. However, the desired outcomes will only be achieved if you take a strategic and comprehensive approach to financial planning and execution before and throughout the…
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Entity Structuring Jun 5, 2024Best Business Structure for Real Estate Investors
The best business structure for real estate investors is generally a limited liability company (LLC) because it offers liability protection, tax flexibility, and ease of management.
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Accounting Feb 29, 2024Revenue Recognition Principle
The revenue recognition principle is a guiding principle that helps companies identify when they can recognize and record revenue. When a company makes a sale, the revenue earned must be recorded and correctly reflected on the company’s income statement; the question is when to…
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Taxes Feb 19, 2024Qualified Small Business Stock Overview
Individuals who hold qualified small business stock (QSBS) may be eligible for significant savings on their capital gains tax liability. This is because they can receive up to a 100% exemption on federal gains taxes up to ten times their initial investment or up to a value of…
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Construction Accounting & Taxes Feb 7, 2024Construction Job Costing – Overview & Tips
Construction job costing is a fundamentally important process used in the construction industry. Construction project managers, estimators, accountants, contractors, owners, clients, regulatory authorities, and insurance companies all rely on accurate job costing for their…
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Florida Accounting & Taxes Jan 23, 2024Florida Short-Term Capital Gains Tax Explained
People who own capital assets in Florida short-term—for less than a year—and sell them at a higher price won’t pay any Florida capital gains tax on the profit. However, they will need to pay capital gains tax to the Internal Revenue Service (IRS).
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Accounting Jan 17, 2024Quality of Earnings Report (QofE Analysis) Overview
A quality of earnings report—QoE or QofE—is an important financial document written by a team that includes an independent accounting firm. The report provides an extensive review of a company’s operating and financial information and emphasizes the “earnings before interest,…
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Florida Accounting & Taxes Jan 9, 2024Guide to Florida Self-Employed Taxes for SMB Owners
Understanding how the Florida self-employment tax works for small and midsize business (SMB) owners in the state is one of the many considerations to take into account when opening a new business.
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