News & Resources

Archives: March 2014

The Financial Accounting Standards Board (“FASB”) has issued its third update to Generally Accepted Accounting Principles (“GAAP”), offering an alternative to certain private companies permitting them to elect, in some circumstances, not to consolidate the financial reporting from variable interest…

Tax-advantaged retirement plans allow your money to grow tax-deferred — or, in the case of Roth accounts, tax-free. But annual contributions are limited by tax law, and any unused limit can’t be carried forward to make larger contributions in future…

The Financial Accounting Standards Board (“FASB”) issued two updates to Generally Accepted Accounting Principles (“GAAP”) that offer alternatives to certain private companies in the areas of Accounting for Goodwill and Derivatives and Hedging—Accounting for Interest Rate Swaps. These alternative standards…

If you purchased qualifying assets by Dec. 31, 2013, you may be able to take advantage of these depreciation-related breaks on your 2013 tax return: 1. Bonus depreciation. This additional first-year depreciation allowance is, generally, 50%. Among the assets that…

Tax credits can be especially valuable because they reduce taxes dollar-for-dollar; deductions reduce only the amount of income that’s taxed. A couple of credits are available for higher education expenses: The American Opportunity credit — up to $2,500 per year…

One of the most common mistakes investors make is forgetting to increase their basis in mutual funds to reflect reinvested dividends. Many mutual fund investors automatically reinvest dividends in additional shares of the fund. These reinvestments increase tax basis in…

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