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So far Sonya Foster has created 926 blog entries.

Leverage Your Internal Audit Department

Many companies have an internal audit department that tests whether the organization is accurately reporting financial results and complying with U.S. Generally Accepted Accounting Principles (GAAP). But it’s important for internal auditors to think beyond compliance. Internal auditors who understand the big picture can expand their department’s influence by helping

2022-05-24T09:12:27-06:00May 24th, 2022|

SLAT Trust Can Provide Opportunities

Estate tax planning can become complicated when multiple parties are involved. For example, you may be concerned about providing assets to a surviving spouse of a second marriage, while also providing for your children from your first marriage. Of course, you also want to take advantage of favorable estate tax

2022-05-11T09:38:55-06:00May 11th, 2022|

Balance Sheet Fair Value FAQs

In recent years, accounting rule makers have issued guidance that requires certain items on the balance sheet to be reported at “fair value.” Here are some answers to frequently asked questions about this standard of value and how it’s measured. What is fair value? Under U.S. Generally Accepted Accounting Principles

2022-05-11T09:11:06-06:00May 11th, 2022|

Tax Issues When Converting From a C Corporation to an S Corporation

Operating as an S corporation may help reduce federal employment taxes for small businesses in the right circumstances. Although S corporations may provide tax advantages over C corporations, there are some potentially costly tax issues that you should assess before making a decision to switch. Here’s a quick rundown of

2022-04-26T12:27:19-06:00April 26th, 2022|
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