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Glossary: Generally Accepted Accounting Principles (GAAP)

By | June 22nd, 2017|Categories: Glossary|Tags: , , , |

The term GAAP, or "generally accepted accounting principles," refers to a set of accounting policies and procedures used in the formal compilation of financial statements. Some part of GAAP come from formal accounting standards from various boards and agencies, and some come from industry standards.

Managing Cash Flow and Working Effectively with Banks: Part 1

By | June 20th, 2017|Categories: Potpourri of Tax Topics|Tags: , , |

This is an excerpt from a presentation I give to business owners about managing cash flow and working effectively with banks.

Does a Roth IRA Count as an Asset in Insolvency Calculation for Cancelled Debt?

By | June 16th, 2017|Categories: Potpourri of Tax Topics|Tags: , , |

Does a Roth IRA Count as an Asset in Insolvency Calculation for Cancelled Debt? Short answer is: yes.

Five Common Business Budgeting Mistakes

By | June 14th, 2017|Categories: Small Business Tax and Accounting|Tags: , , |

Here are 5 mistakes I see businesses make in the budgeting process.

Glossary: 1099

By | June 12th, 2017|Categories: Glossary|Tags: , , , |

In the tax world, the term "1099" refers to a series of reporting forms issued to recipients of certain types of income.