Monthly Archives: December 2022

Tax services encompass a wide range of activities, from preparing tax returns to advising on tax-efficient investment strategies. Public accountants in this field stay current with tax law changes, helping clients make informed decisions that reduce tax burdens while remaining compliant with tax codes. Public accountants working in the financial services sector must grapple with […]

They assist clients in evaluating and mitigating financial risks through internal control assessments, risk analysis, and the establishment of risk management frameworks. By identifying and addressing potential risks, public accountants help organizations safeguard their assets and improve their overall financial performance. Public accountants have a crucial role in the financial ecosystem, serving as trusted advisors […]

In that case, the IRS says you can elect to figure the taxable part of a lump-sum payment for an earlier year separately, using your income for the previous year. The amount of taxes, if any, withheld from your Social Security check depends on how much your total income is (the combination of your Social […]

By contrast, the average age of retired workers has changed little over time, rising from 72.4 in 1960 to 74.0 in 2020. Sixty-five million beneficiaries were in current-payment status; that is, they were being paid a benefit. Seventy-one percent of those beneficiaries were retired workers and 13% were disabled workers. That’s largely due to the way […]

It may be unfair to discount these resources, as a company may try to efficiently utilize its capital by tying money up in inventory to generate sales. The current ratio may also be easier to calculate based on the format of the balance sheet presented. Less formal reports (i.e. not required by GAAP external reporting […]

Both the current ratio and the quick ratio are considered liquidity ratios, measuring the ability of a business to meet its current debt obligations. The current ratio includes all current assets in its calculation, while the quick ratio only includes quick assets or liquid assets in its calculation. A quick ratio that is greater than […]