High Inflation with Inventory? Consider a LIFO Election for the 2022 or even the 2021 Tax Year if You Received an Extension
When inflation is high, certain companies could use it as an opportunity to save on taxes. Electing LIFO for the 2021 tax year might be a smart move, but time is running out. It’s also not too early to begin evaluating LIFO calculations for 2022.
Impact of New Lease Accounting Standards for Government Contractors
Do you have a lease? If so, it is important to be aware of the new Lease Accounting Standards for Government Contractors. Lease accounting standards are changing and government contractors need to know how this will affect them.
3 Retirement Planning Decisions You Can Make in Your 20s
As a financial planner, people in their 20s often ask me, "what types of accounts should I be opening to save for retirement?" or, "how do I start investing?". Here are some ideas for those looking to get started.
Maxing Out 401(k) Savings for High Earners
High earners face additional contribution restrictions to employer-sponsored 401(k) plans. Being aware of these restrictions and how to navigate them can help maximize retirement savings.
FinCEN Proposed Rule for Real Estate to Combat Money Laundering, Fraud
FinCEN issued a request for public comment in advance of a new proposed rule subjecting all-cash real estate transactions to new recordkeeping requirements. If passed, real estate would fall under increased regulatory oversight.
How the Government Buys Goods and Services: What Government Contractors Need to Know
The federal government is the largest single customer in the world. Continuing with our Basics of Government Contracting Series, in this blog post we discuss how the federal government buys goods and services and what you need to know as a government contractor.
