Roth IRAs offer many benefits, including federal income tax-free withdrawals, provided you follow the rules. You can convert a traditional IRA to a more flexible Roth IRA, but it will trigger a significant taxable event. TAXES Because contributions to a traditional IRA are tax deductible and earnings are tax deferred, youll have to pay income … Read more
It’s hard to believe 2021 is right around the corner! Over the next few months, to help you navigate the upcoming year, we will be sharing personal financial tips to our Facebook and LinkedIn pages, written by our Personal Services Division (PSD) Manager, Nancy Meza, CPA. We hope you will find value in our tips … Read more
Open enrollment is an important process that usually takes place November 1 through December 15. But for employers, planning starts much earlier. Planning ahead can result in savings, a smooth enrollment process and ensure you are offering benefits that help recruit and retain the best talent. Here are some tips for success: EVALUATE BENEFITS Look … Read more
2020 has been a big year for tax law changes. The SECURE Act is the most significant retirement reform law in at least a decade. The CARES Act provided tax breaks designed to help ease the economic burden of the Coronavirus and related shutdowns. These are just a few of the many changes affecting individuals … Read more
Reading the news, you may come across a story of fraud occurring within a company; however, do you consider the potential of fraud occurring within your company? As technology evolves, the capabilities of a fraudster improve if we have not implemented the proper controls. The controls and procedures put in place a few years ago … Read more
Working from home has become a bit of a common term lately. Some of us hate it, some of us love it, some of us dont care. Cyber criminals are loving it! The US Cybersecurity and Infrastructure Security Agency (CISA) has issued an alert on COVID-19 related cyber activity, stating they are seeing a growing … Read more
When you think of accountants, what do you imagine? Perhaps you see an office filled with men wearing suspenders and visors, sitting behind their large wooden desks as they discuss tax law and type away at their adding machines. At ADKF, youll find a team of tight-knit, dedicated professionals eager to stay at the top … Read more
Rental properties require regular repairs and maintenance, and occasional rehabilitation. It can be confusing to determine how these costs will be treated for income tax purposes. Thats what were here for! Let us provide you a brief overview of the tax concepts a property owner should be aware of when considering the tax impact of … Read more
SEC WHISTLEBLOWER REWARDS Last April, The Securities and Exchange Commission (SEC) awarded more than $27 million to an individual whistleblower who alerted the agency to industry misconduct and provided critical investigative leads that advanced the investigation. This action saved the taxpayers millions of dollars. The SEC awarded $120 million to whistleblowers in 2019 alone. Since … Read more
SEC WHISTLEBLOWER REWARDS Last April, The Securities and Exchange Commission (SEC) awarded more than $27 million to an individual whistleblower who alerted the agency to industry misconduct and provided critical investigative leads that advanced the investigation. This action saved the taxpayers millions of dollars. The SEC awarded $120 million to whistleblowers in 2019 alone. Since … Read more