Tax Consequences of Borrowing From a Retirement Plan
If your company has a qualified retirement plan or you have set one up in self-employment -- such as a 401(k), profit-sharing, or Keogh plan -- the participants might be allowed to borrow from their…
- Kirsch CPA Group
- Feb 03, 2023
What Does SECURE 2.0 Mean for 403(b) Plans?
The SECURE Act 2.0, a follow-up to the SECURE Act of 2019, was enacted in the waning days of 2022. This new law introduces sweeping changes for qualified retirement plans, including 403(b) retirement savings plans…
- Kirsch CPA Group
- Feb 03, 2023
Tricky Tax Angles to Fringe Benefits
Competition for top-notch workers can be fierce. Your business currently may be understaffed due to a number of factors — including the "Great Resignation" and "quiet quitting" where employees do the bare minimum before eventually…
- Kirsch CPA Group
- Feb 03, 2023
New Guidance on Safeguarding Crypto Assets
In 2022, the value of the cryptocurrency market — including Bitcoin and Ethereum — tumbled by trillions of dollars. Despite this volatility, many people expect crypto assets to rise in significance in the coming years.…
- Kirsch CPA Group
- Feb 02, 2023
Don’t Fall for Invoice Fraud Schemes
Middle-market businesses lose an average of almost $300,000 annually to invoice fraud, according to a recent survey by software company Medius and researcher Censuswide. Invoice fraud can be challenging to spot — and even more…
- Kirsch CPA Group
- Feb 02, 2023
Looking to the Future when Valuing a Business
Historical financial results are only relevant in a valuation to the extent that the business expects to achieve similar results in the coming years. When projecting future economic benefits, it's important to consider expected changes…
- Kirsch CPA Group
- Feb 01, 2023
Navigate to Your Goals with Financial GPS
Few business owners don’t see value in taking time to scrutinize their financial statements, especially at the end of the year. But do they take the time to do so? And when you, or your…
- Nick Roell
- Jan 20, 2023
Is Your Business Ready for Next Level Accounting Services?
In our latest guide, Next Level Accounting Services, you’ll learn the benefits of accounting services that do far more than prepare your taxes and balance the books – and how to recognize when you need…
- Kirsch CPA Group
- Dec 27, 2022
Tax Treatment of Debt Forgiveness: Watch Out for Tax Bills Delivered COD
Debtors typically experience a feeling of relief when a creditor agrees to forgive their debt. But that feeling often is replaced by shock and confusion when they learn they owe taxes on so-called "cancellation of…
- Kirsch CPA Group
- Jan 18, 2023
Optimizing Business Losses
Business losses can happen, whether you're operating a new company that hasn't yet earned a profit or a mature business that's been squeezed by today's volatile economy. While no one likes to lose money, the…
- Kirsch CPA Group
- Jan 18, 2023