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All American Flag Act (S 1973) – Introduced by Sen. Sherrod Brown (D-OH) on June 14, 2023, this bill requires that all U.S. flags used by the Federal government be manufactured domestically. This includes all raw materials. One exception to this mandate is if flags cannot be produced of acceptable quality and quantity as needed at competitive market prices. The bill passed in the Senate on Nov. 2, 2023, in the House on July 22 and was signed into law by the president on July 30. Disrupt Explicit Forged Images and Non-Consensual Edits Act of 2024 (S 3696) – This bipartisan bill, also known as theRead More →

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According to EY, the convertible debt market saw whipsaw action in issuances. Between 2015 and 2019, average issuance varied between $40 billion and $45 billion. However, it dropped to $22 billion in 2022, but re-accelerated to $52 billion in 2023. While the levels of issuance varied, the way this type of debt is accounted for has remained much calmer. Defining a Convertible Bond A convertible bond is a type of debt security that gives the investor the right to exchange the bond, at certain milestones, for a pre-determined percentage of equity in the issuing company. This investment vehicle has both equity and debt features. SinceRead More →

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The enactment of the Tax Cuts and Jobs Act (TCJA) in 2017 brought with it major changes to the tax code on both personal and business levels. While many taxpayers have not only enjoyed but come to see these tax provisions as normal over the past seven years, many provisions of the TCJA are set to expire at the end of 2025. This makes 2026 and beyond potentially a very different tax landscape than the one we operate in today. This article reviews main provisions of the TCJA that could be affected and what it could mean for taxpayers. Return of Higher Tax Rates LowerRead More →

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When it comes to running a business, there are a lot of expenses incurred during operations. As of January 2024, New York University’s Stern School of Business had recorded nearly $1.2 trillion in capital expenditures by U.S. sectors. Considering this, there are two important concepts that are imperative to study for effective accounting treatment: capital expenditures (CapEx) and operating expenses (OpEx). Defining CapEx and OpEx Operating expenses (OpEx) are required outlays a company incurs on a more frequent basis to take care of day-to-day expenditures. Capital expenditures (CapEx), conversely, are larger purchases that businesses intend to use over the long term (at least 12 months). Read More →

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For many parents and kids, living independently after college or trade school has been a challenge – a big one, thanks to rising inflation, student debt, and high rent. However, whether your kids are headed for a university or a hands-on career, there is hope. Here’s a quick snapshot of what majors and skills can potentially yield the highest paychecks so that financial independence is achievable. Engineering and More According to Kiplinger, college-bound kids who have an aptitude for math and science make the most money right out of school. Not a surprise, given that technology changes at what feels like warp speed. For instance,Read More →

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Backlinks are the direct result of successful link-building efforts. The quality and quantity of backlinks a website receives are influenced by the effectiveness of its link-building strategies. Traditionally, link building has been a labor-intensive process, often requiring significant time and resources. However, advances in artificial intelligence (AI) are changing the future of link building. According to a study by seoClarity, about 67 percent of search engine optimization (SEO) professionals believe that generative AI’s most significant benefit is the automation of repetitive SEO tasks. How AI is Changing Link Building Enhanced Data Analysis and Insights  Incorporating AI into link building helps quickly process and analyze vast amounts ofRead More →

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Accelerating Deployment of Versatile, Advanced Nuclear for Clean Energy (S 111) – This bill was introduced by Sen. Shelly Moore Capito (R-WV) on March 30, 2023. This bipartisan legislation is designed to strengthen America as a leader in energy security. This bill includes measures to bolster clean nuclear power, establish strong union jobs, and achieve our nationwide net-zero emission goal by 2050. Versions of this bill passed in the Senate and House over the past year, and it was signed into law by the president on July 9. Fire Grants and Safety Act (S 559) – This act enables communities across the United States toRead More →

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Comprehensive income (CI), which is defined as the sum of net income (NI) and other comprehensive income (OCI), gives both the internal and external audiences a 30,000-foot perspective of a company’s valuation. Understanding how it’s broken down, how it’s accounted for, and how it’s interpreted by different audiences is essential to making favorable impressions. In the banking industry, the Government Accountability Office (GAO) found 2,705 material restatements occurred between the beginning of January 1997 and the first half of 2006. Businesses that fail to report financial information accurately the first time are not uncommon – but this can have harmful effects on their bottom line.Read More →

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I sincerely hope you have never had to go through an IRS audit – and never have to in the future. But what if that dark day does arrive? Should you go it alone and defend yourself or hire a CPA to be on your side? The temptation to handle this alone is usually prompted by one of two things. First, the notion is that this is not such a big deal. Other times, people think if they handle it themselves, they will save money. Unfortunately, neither of these are good reasons to defend yourself in a tax audit against the IRS. While the decisionRead More →

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With more than eight million small businesses in America, and more than $776 billion in net premiums issued by the insurance industry in 2022 for commercial policies (according to the Insurance Information Institute), business insurance is big business. Along with protecting businesses from a myriad of claims, insurance expenses also have to be accounted for correctly. When it comes to defining prepaid insurance, it’s essentially remittances that businesses (and individuals) make to an insurance company in advance. Normally, the usual time-frame for an insurance policy is 12 months. The time-frame is important when it comes to distinguishing between current and long-term asset classification. If aRead More →

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