The TG Blog

Resources and articles to empower you and keep you up to date.

home-for-sale-sold

Be Aware of the Tax Consequences Before Selling Your Home

May 15, 2018

In many parts of the country, summer is peak season for selling a home. If you’re planning to put your home on the market soon, you’re probably thinking about things like how quickly it will sell and how much you’ll get for it. But don’t neglect to consider the tax consequences. Home sale gain exclusion…

Read More
watch out for underwithholding

Do You Need to Adjust Your Withholding?

May 8, 2018

If you received a large refund after filing your 2017 income tax return, you’re probably enjoying the influx of cash. But a large refund isn’t all positive. It also means you were essentially giving the government an interest-free loan. That’s why a large refund for the previous tax year would usually indicate that you should…

Read More
Vector of decrease money with stock business graph going down crisis.

Profits: How Low Can You Go?

May 4, 2018

If your profits are down, don’t panic. Your financial statements can help you detect clues to solve the mystery of your disappearing profits.

Read More
colleagues clapping at businessman

Effectively Communicating with the Audit Committee

April 30, 2018

CFOs and other executives occasionally present information about the company’s operations, strategies and risks to the audit committee. Your presentation will generally be most effective if you fully understand the committee’s role, you’ve already established relationships with committee members and you focus on the most relevant information. Here’s how. The audit committee’s role Audit committees…

Read More
home-office

Tax Document Retention Guidelines for Small Businesses

April 25, 2018

You may have breathed a sigh of relief after filing your 2017 income tax return (or requesting an extension). But if your office is strewn with reams of paper consisting of years’ worth of tax returns, receipts, canceled checks and other financial records (or your computer desktop is filled with a multitude of digital tax-related files), you probably want to get rid of what you can. Follow these retention guidelines as you clean up.

Read More
commercial-lease

Get Ready for the New Lease Standard

April 23, 2018

A new accounting rule for reporting leases goes into effect in 2019 for public companies. Although private companies have been granted a one-year reprieve, no business should wait until the last minute to start the implementation process. Some recently revised guidance is intended to ease implementation. Here’s an overview of what’s changing.

Read More
key-tax-dates-for-individuals-2018

Individual Tax Calendar: Important Deadlines for the Remainder of 2018

April 18, 2018

While April 15 (April 17 this year) is the main tax deadline on most individual taxpayers’ minds, there are others through the rest of the year that you also need to be aware of. To help you make sure you don’t miss any important 2018 deadlines, here’s a look at when some key tax-related forms,…

Read More
main-st-s

Public vs. Private Companies: When Should Different Accounting Rules Apply?

April 13, 2018

Small private companies often criticize the Financial Accounting Standards Board (FASB) for writing overly complex standards that focus on the needs of stakeholders in large public companies rather than “Main Street” businesses. Here’s how the FASB has addressed these criticisms in recent years.

Read More
security lock on credit cards with computer keyboard

Stop Employee Credit Card Abuse Before It Starts

April 10, 2018

A nonprofit staffer charged legitimate travel-related expenses to her employer’s credit card. Although she intended to file an expense report, her employer never asked for it — nor did the employer question her when it received the card statement. The employee was recently divorced and under unusual financial pressure, so when she couldn’t pay for…

Read More
a pie graph made of gears

3 Tips for Achieving Your Mission More Cost-Effectively

April 10, 2018

Do you want to control costs and improve delivery of your nonprofit’s programs and services? It may not be as difficult as you think. Several simple initiatives can make a big difference in how efficiently your organization operates. Here are three:

Read More