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VT Tax & Finance Blog

QUESTIONS TO HELP WITH RISK ASSESSMENT

Aug 17, 2012
Internal control has come to be viewed as an important component of governance, and as such, evaluating a business' risks should be viewed in an all-inclusive manner. The following is a list of questions that are recommended to be asked in a comprehensive...

TEACHING CHILDREN ABOUT MONEY

Aug 17, 2012
You've taught them good manners, good eating habits, the dangers of drugs and alcohol, but a new survey is showing that children aren t learning much about money from their parents.

ACCRUAL-BASIS FINANCIAL STATEMENTS NECESSARY FOR "BIG PICTURE"

Aug 17, 2012
At a minimum, the two basic accrual-basis financial statements that should be reviewed monthly are the balance sheet and the income statement.

THE FAMILY BUSINESS AND ESTATE PLANNING

Aug 17, 2012
It has been said that there are two certainties in life: death and taxes. Estate planning combines both of these issues, making it a sensitive exercise to undertake. The difficulties arise from both practical considerations and emotional issues. Addressing both..

HOW TO PLAN AND SAVE FOR COLLEGE

Aug 17, 2012
With college costs increasing faster than inflation, it can take many years to save for a portion of the total cost. However, planning ahead and saving specifically for college and other education expenses ...

THE IRS WANTS A CANCELLED CHECK?

Aug 17, 2012
In the current banking environment of the Check Clearing for the 21st Century Actand Automated Clearing House (ACH) transactions...

FINANCIAL AID SHOPPING SHEET UNVEILED

Aug 17, 2012
This past April the Consumer Financial Protection Bureau unveiled the first version of their Financial Aid Shopping Sheet.

DECODE FINANCIAL STATEMENTS TO BENEFIT YOUR BUSINESS: PART II

Aug 17, 2012
To have a complete picture of your company's financial situation, accrual-basis financial statements are necessary - unless the company does not have significant receivables or payables.

CHARITABLE CONTRIBUTIONS ACKNOWLEDGEMENTS

Aug 17, 2012
The acknowledgment letter received for making a charitable contribution is an important document. Without....

DECODE FINANCIAL STATEMENTS TO BENEFIT YOUR BUSINESS: PART I

Aug 17, 2012
In some businesses, CEOs often focus on the product or services being offered and rely on others to manage the finances. Bank balances, receipts and payments are easily understood, but things like accrual basis accounting, ratios and working capital can be confusing.

FINANCIAL CALCULATORS

Aug 17, 2012
If you are in need of aid in your budgeting and financial planning, please visit our Financial Calculators page of our website.

OCBOA FINANCIAL STATEMENTS: FREQUENTLY ASKED QUESTIONS PART II

Aug 17, 2012
Following are some additional issues in which questions have risen in regards to "other comprehensive basis of accounting (OCBOA).

SHAREHOLDERS, LOANS AND S CORPORATIONS

Aug 17, 2012
The topic of shareholder basis has become a more pressing topic during this economic downturn. In order to keep operating...

APPLYING FOR AN EIN

Aug 17, 2012
Generally, businesses need to apply for an EIN when their ownership or structure has changed or when the business is first formed.

STUDENT LOAN COSTS INCREASE

Aug 17, 2012
On June 29, 2012 the House of Representatives adopted H.R 4348 Surface Transportation extension Act of 2012 Part II.

WHAT DOES THE SUPREME COURT RULING MEAN TO BUSINESS OWNERS?

Aug 17, 2012
By now you've probably heard about the Supreme Court's ruling that the Affordable Care Act (ACA) is largely constitutional.....

OCBOA FINANCIAL STATEMENTS: FREQUENTLY ASKED QUESTIONS

Aug 17, 2012
Following are some of the issues in which questions have risen to the forefront in regards to "other comprehensive basis of accounting" (OCBOA).

YOUTUBE: VICTIM OF IDENTITY THEFT?

Aug 17, 2012
Find out how the IRS can help you or your clients who may be victims of identity theft in this YouTube video.

OCBOA 101: LESS COMPLICATED, LESS COSTLY FINANCIAL REPORTING

Aug 17, 2012
With the increasing complexity of addressing accounting and reporting matters to comply with accounting principles generally accepted in the U.S. (U.S. GAAP)...

SUPREME COURT UPHOLDS INDIVIDUAL MANDATE IN HEALTH CARE ACT

Aug 17, 2012
In what has been termed the most consequential decision of the decade, the Supreme Court has upheld the individual mandate in the Patient Protection and...