Mortgage Matters: To Pay Down or Not to Pay Down
If you’re a homeowner and manage your finances well, you might have extra cash after you’ve paid your monthly bills. What should you do with this extra money? Some would say make additional mortgage payments toward your principal to pay off your mortgage early. Others...
Step Carefully with Loans Between a Business and Its Owner
It’s common for owners of closely held businesses to transfer money into and out of the company. But it’s critical to make such transfers properly. If you don’t, you might hear from the IRS. Why Loans Are Better When an owner withdraws funds from the company, the...
Cost Segregation Studies Can Benefit Business Owners
Any business owner who’s acquired, constructed or substantially improved a building this year — or even in previous years — should read up on the tax benefits of a cost segregation study. Undertaking one may allow you to accelerate depreciation deductions, which...
New Lease Standard (ASU 2016-02)
The effective date for ASU 2016-02 Leases, is just around the corner. For n on-public entities it is effective for periods beginning after December 15, 2019, which would be an organization’s December 31, 2020 year end for calendar year-end organizations. Early...