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You can work and still receive Social Security benefits, but how much you receive depends on a number of factors. First, if you do plan to continue working after becoming eligible to receive benefits, you might consider delaying filing for benefits for as long as possible. That’s because the earlier you begin drawing benefits, the lower the amount you will receive. In fact, your monthly payout will be permanently reduced from what you’ll receive if you wait until full retirement age (FRA). Your FRA depends on the year you were born (note that for people born on Jan. 1 of any year, they should referRead More →

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Since tax time isn’t until next April, organizing your documents right about now might not be top of mind or even something you want to do. However, if you don’t want to have to scramble come springtime, you might want to organize your paperwork all year long. Here’s why: It expedites the process when you really do have to begin your tax prep, and it’s actually pretty easy. Start with simple categories (listed below), grab some folders, and put them in a filing cabinet – or any safe place. This way, when tax time comes around, you’ll be ready. Income This is pretty obvious, butRead More →

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Data breaches have been on the rise as cybercriminals keep coming up with new ways to steal user-sensitive information. Just in the second quarter of 2023, 110.8 million user accounts were breached. Of these accounts, 49.8 million were from the United States, accounting for 45 percent of the global figure. However, amid the rising threats, a revolutionary concept known as decentralized identity systems has created a solution to reduce data breach cases. Data Breaches and the Current State of Identity Management A data breach happens when unauthorized individuals or entities gain access to sensitive information, often for malicious purposes. These breaches can happen to anyone,Read More →

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MAHSA Act (HR 589) – The Mahsa Amini Human Rights and Security Accountability (MAHSA) Act is a bipartisan bill that was introduced on Jan. 27 by Rep. Jim Banks (R-IN). The purpose of this bill is to impose sanctions on the leaders of Iran for supporting human rights abuses and terrorism. The sanctions block both property and visas owned by certain foreign individuals and entities affiliated with Iran. The bill passed in the House on Sept. 12 and currently resides in the Senate. Fight CRIME Act (HR 3152) – This bipartisan bill was introduced by Rep. Michael McCaul (R-TX) on May 9. It imposes visa-Read More →

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You wake up in the middle of the night. Heart racing, drenched in sweat, and breathing heavily. Thankfully, it was just a nightmare when the IRS showed up at your doorstep unannounced. Recently, however, this was the reality for some taxpayers – and not just a bad dream. The IRS just publicized a significant shift in policy, effectively ending the vast majority of surprise taxpayer visits. The change comes in an effort to create safer conditions for IRS officers as well as ease public concerns. Who’s Knocking at My Door? In order to understand the change in policy, you’ll need to understand the three categoriesRead More →

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Looking at expenses for one’s business is essential to reduce cash flow issues. For example, it would show if there’s too much money leaving the business or what type of scenario the business might face if there’s an unexpected and large expense that guts the business’ cash position. Tracking expenses on a monthly basis is one way to determine a company’s financial health.   Estimating sales by starting with last year’s month-by-month figures is one way to start. Looking at credit and cash sales from a business’ monthly income statements provides historical reference. Examining both fixed and variable past expenses, specifically, is a good startingRead More →

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A widow or widower is eligible for a survivor’s benefit from Social Security even if they never worked – as long as the deceased spouse qualified for benefits based on his or her own income record. Also, note that surviving spouses must have been married to their most current spouse for at least the nine months prior to their passing or for 10 years if the couple was divorced. When Can You Claim? A widow/er may apply for benefits once she turns age 60, age 50 if she qualifies as disabled or if she is responsible for the care of a child under age 16Read More →

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Even though numbers are probably the biggest thing in an accountant’s wheelhouse, getting people in the door with the right words in your bio can make all the difference in the world. Here are a few tips to make sure that how you present yourself to the public via your wording is powerful, succinct, and engaging. Make it Short and Engaging Yes, attention spans in our world are woefully short, much like that of gnat. You have seconds to grab someone’s attention. Write your bio as if you were looking for an accountant. How would you word it? What would catch your eye? Of course,Read More →

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Marketing efforts today depend on collecting, analyzing, and leveraging data to make informed decisions. Therefore, business owners need to understand how to harness the power of data and personalization to create targeted campaigns that drive growth. Importance of Data and Personalization in Modern Business Businesses today collect loads of data, enabling them to understand their customers’ preferences, behaviors and interests. The data comes from different channels, such as a business website, emails, or social media. It is then used to identify patterns and trends to make informed marketing decisions. This yields valuable insights that help craft highly personalized and effective marketing strategies. Data is theRead More →

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United States-Taiwan Initiative on 21st-Century Trade First Agreement Implementation Act (HR 4004) – This bipartisan bill was introduced on June 12 by Rep. Jason Smith (R-MO). The purpose of this bill is to convey approval by Congress of the June 1 trade agreement between the United States and Taiwan. The bill addresses customs administration and regulatory practice issues, as well as dictates conditions for negotiations of subsequent trade agreements. Among its provisions, the bill requires that the U.S. Trade Representative share all negotiating texts with Congress prior to being sent to Taiwan or any parties outside of the executive branch. The bill passed in theRead More →

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