For many business owners, tax season is the time when they step back and review the financial performance of their business. Tax returns bring the numbers together and provide a clear record of how the past year unfolded. That review is valuable. But tax returns, by design, focus on historical information. By the time they’re completed, [...]
Families are hearing more about “Trump Accounts” and wondering whether they’re worth paying attention to. Like many new tax-related tools, the details matter. Here’s what parents and guardians need to know—and how these accounts may (or may not) fit into a broader financial plan. What Is a Trump Account? A Trump Account is a newly created, [...]
What is MD&A? Management’s Discussion and Analysis (MD&A) is a required section of your annual financial report under GASB standards. It appears at the beginning of the financial statements and must be prepared by management, not the auditors. MD&A is classified as Required Supplementary Information (RSI) under GASB and is included as part of your audited [...]
Earlier this year, the Equal Employment Opportunity Commission (EEOC) voted to rescind its 2024 Harassment Guidance. The announcement can be reviewed directly on the EEOC’s website here. The previously issued guidance had expanded interpretations around workplace harassment, including remote work, gender identity protections, and employer obligations in digital environments. Its rescission has created understandable questions [...]
Abe: If you have to explain it verbally every time someone asks who reports to whom, it’s outdated. Your org chart should match how decisions are actually made — not how they were made two years ago. A: Yes — unless responsibilities are clearly divided. Dual reporting often creates conflicting priorities and diffused [...]
Tax season brings a lot of important communication—and unfortunately, it can also bring scams. Each year, fraudsters take advantage of increased tax activity to try to collect personal and financial information. At Abacus!, better guidance means helping you know what to watch for and when to pause before acting. Awareness Is Your First Line of Defense Tax-related scams often appear during this [...]
When you mail important tax documents, like your federal return or an estimated tax payment, the date printed on the envelope matters. For decades, taxpayers have relied on the U.S. Postal Service (USPS) postmark date to meet IRS filing and payment deadlines under the “timely mailing = timely filing/paying” rule found in federal tax law (Internal [...]
As tax season begins, W-2s and 1099s are landing in mailboxes and inboxes. Before you file your return, it is important to take a few minutes to review these forms for accuracy. Catching errors early can help prevent delays, IRS notices, or amended returns later. How to Review Your W-2 or 1099 for Errors Start by [...]
Tax season is here, and it’s time to get everything in order for a smooth and stress-free filing. Whether you’re doing it yourself or working with a tax professional, being organized is key to making the process as simple as possible. To help you prepare, we’ve put together a comprehensive tax season checklist of the documents [...]
Abe: Coaching is appropriate when an issue is isolated, minor, and not yet a pattern. Enforcement is necessary when expectations have already been communicated, when behavior repeats, or when a policy clearly applies. The key is consistency. Coaching should not become an excuse to avoid enforcement. A: Yes, but it must be communicated [...]
