Part 2: Pre-Retirement Planning Guide
There are many steps to planning for retirement. Some are legal and financial, some are about communication and some involve introspection – thinking about your life now and how you want to live the rest of it…
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How to Calculate Operating Return on Assets
During Q3 of 2023, businesses in the United States made approximately $3.3 trillion, according to Statista. This is right behind the third quarter of 2022, when corporations in America made even more money. These figures are…
Reduce Your Taxes by Putting the Right Assets in Your IRA
Most people know the basic concept that certain types of investment accounts are tax sheltered while others are not. Think 401(k), 403(b), IRA and Roth IRA accounts, for example. What most people are not aware of is how you split your…
Taking a Closer Look at Trial Balances
A trial balance is an accounting tool that helps businesses determine if the double entry accounting system has any mathematical errors. Once the trial balance is worked through, and the total debits and total credits equal each other, we know…
April is Financial Literacy Month: How Much Do You Know?
What started as Youth Financial Literacy Day some years ago is now a monthlong event: Financial Literacy Month. It all started in 2003, when some U.S. legislators got together and…
Funding the Government, Protecting Americans from Misuse of Data, Expanding Internet Access and Improving Recycling
Consolidated Appropriations Act, 2024 (HR 4366) – On March 9, the president signed the latest appropriations bill passed in time to halt a government shutdown. While this bill does authorize funding through end of the…
Part 1: Pre-Retirement Planning Guide
One of the more insightful quotes of baseball great Yogi Berra was, “If you don’t know where you’re going, you’ll end up someplace else.&rdquo…
Defining Burn Rate, Gross Burn and Net Burn
When it comes to any business, but especially for a start-up, it’s essential to determine how long a company can survive before it must declare bankruptcy and/or close its doors. The biggest metric, especially for a start-up, is to…
Importance of Fostering Digital Trust in Today’s Businesses
Modern business today is dominated by digital transactions and interactions. Businesses are increasingly storing customers’ personal information, which is potentially accessible without the customers’ knowledge…
Contingent Liability Defined
As the name implies, a contingent liability for a business does not always happen and depends on how the future unfolds. When it comes to a business analyzing a contingent liability, it focuses on the probability of the business realizing it…