CPA Lubbock Texas
Respect for Marriage Act (HR 8404) – Introduced by Sen. Jerry Nadler (D-NY) on July 18, this Act replaces previous provisions that defined marriage as strictly between a man and a woman. It codifies marriage to state that a spouse may be a person of the opposite sex as long […]
When it comes to businesses and their inventory and accounting methods for managing it, there are a few different ways to approach the task. The three different options to value inventory/implement cost flow assumptions, include: Last In, First Out (LIFO); First In, First Out (FIFO); and Weighted Average Cost Accounting […]
Disaster Resiliency Planning Act (S 3510) – Introduced by Sen. Gary Peters (D-MI) on Jan. 13,this Act details guidelines for federal agencies to incorporate natural disaster resilience with regard to real property asset management and investment decisions. The bill passed in the Senate on June 22, in the House on […]
When there’s a question of the benefit that tangible or intangible assets provide businesses, there are many factors that must be weighed to make internal accounting procedures effective. Businesses must determine how the cost of business assets can be expensed each year over the asset’s lifespan. Looking at how amortization […]
Data has become a primary asset for businesses today. Consequently, the survival of a business in our data-driven environment is highly dependent on the ability to have total control over data storage, extraction, and manipulation. As businesses continue being bombarded with vast volumes of data, datafication has become a big […]
Although you might get busy with the holiday season, don’t forget to consider ways to strengthen tax efficiencies for 2023 and beyond. 2023 Retirement Contribution Increases Set up your accounts to automatically defer money to meet the new increases in retirement contributions next year. In 2023, you can defer up […]
Now is the time of year to do everything you can to minimize taxes and maximize your financial health with proper year-end planning. In this article, we’ll look at several actions to consider taking before the end of 2022. Thoughtfully Harvest Losses and Gains Before Year-End Tax loss harvesting by […]
Are you a trader or an investor? The difference is frequently discerned by how closely you monitor the stock market and how quickly you move in and out of investments. Traders are often referred to as market timers because they actively seek to buy into positions when share prices drop, […]
Early technology adopters are more likely to gain better business results, including higher revenue growth and market position. With businesses facing complex problems every day, it is no doubt that they are always watching out for the next big tech that offers a better solution. Although still in its infancy […]
Planning for Animal Wellness Act /PAW Act (S 4205) – Introduced by Sen. Gary Peters (D-MI) on May 12, this act instructs the Federal Emergency Management Agency (FEMA) to compile best practices and federal guidance for handling household pets, service and assistance animals and captive animals during emergencies and disasters. […]