Governmental Accounting Insights

Tax Prep, Planning & Strategy

Shooting for Consistency: New Rules Clarify Accounting for Grants and Contributions

When the Financial Accounting Standards Board (FASB) released new rules for revenue recognition in 2014, contributions were specifically excluded.…

Tax Prep, Planning & Strategy

Make health care decisions while you’re healthy

Estate planning isn’t just about what happens to your assets after you die. It’s also about protecting yourself and your loved ones. This…

Tax Prep, Planning & Strategy

Estate planning for single parents requires special considerations

Here’s a fast fact: The percentage of U.S. children who live with an unmarried parent has jumped from 13% in 1968 to 32% in 2017, according…

Tax Prep, Planning & Strategy

A buy-sell agreement can provide the liquidity to cover estate taxes

If you own an interest in a closely held business, it’s critical to have a well-designed, properly funded buy-sell agreement. Without one,…

Tax Prep, Planning & Strategy

Be vigilant about your business credit score

As an individual, you’ve no doubt been urged to regularly check your credit score. Most people nowadays know that, with a subpar personal credit…

Tax Prep, Planning & Strategy

4 negative outcomes of jointly owning property with a family member

A common estate planning mistake that people make is to own property jointly with an adult child or other family member. True, adding a loved…

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Latest Tweets

wcscpas Weyrich Cronin Sorra @wcscpas ·
7 Jan

"How does your federal tax bill affect Medicare insurance premiums? How much will monthly Medicare premiums be in 2025? Here are the answers to those and other questions." https://bit.ly/4femneJ

wcscpas Weyrich Cronin Sorra @wcscpas ·
6 Jan

The ongoing saga of the beneficial ownership information reporting requirements isn’t over. A federal appeals court and the government now say that more than 30 million businesses no longer have to file reports in January 2025. https://bit.ly/3W9Ou89