Risky business: How auditors help combat corporate fraud M&A accounting: Identifying the acquirer in business combinations involving VIEs Closing time: Mastering your monthly close with QuickBooks Old invoices, new rules: Tap into the power of the AR aging report Loan applications: How to strengthen your hand in today’s credit markets Back to basics: A practical playbook for reporting PPE Estimating fair value today 5 QuickBooks reports to review each month Fight corporate corruption with robust accounting systems Ratio rundown: Use financial benchmarking to unlock profitability, efficiency and growth 6 practical tips to lower business travel expenses Harness the power of QuickBooks for your business FAQs about reporting subsequent events Tackling risk management with a proactive approach 7 common M&A due diligence pitfalls How to forecast smarter SEC reverses course on crypto accounting Funding your business: What small business owners need to know about financing Beyond the financials: What’s a quality of earnings report? Fraud risk assessment: What auditors watch for Now or later: When should your company implement the new crypto reporting guidance? What are retained earnings — and why do they matter? Goodwill impairment: Is your company at risk? Chart a course for success with a detailed chart of accounts Get a handle on how accounting and tax profitability metrics differ Beyond the numbers: 5 red flags that may indicate financial distress Fundamental differences between not-for-profit and for-profit accounting Understanding the ABCs of credits and debits YHB Named in 2024 Top 50 Construction Accounting Firms Improve financial reporting with an effective audit committee Making your board retreat rejuvenating — and productive Take charge of working capital management Bookkeeping provides a solid foundation for financial reporting 2024 E.L.I.T.E. Award Winners YHB Promotes Claire Manspile to Principal 4 bookkeeping pitfalls for small businesses to avoid Two YHB Principals Recognized on Forbes Top 200 CPAs List Getting a handle on inventory YHB Announces Headquarters Relocation to New Facility in Winchester, VA Should midsized banks leverage AI? Mind the GAAP: How to Ensure Transparency when using non-GAAP Metrics Spotlight on auditor independence YHB named a Top 100 Firm in the US Why it’s important to get your company’s financials done on time Auditing revenue recognition YHB Achieves 2023 Cigna Healthy Workforce Designation 3 tips for making the financial statement auditing process smoother YHB Welcomes Two New Principals to Strengthen Leadership Solid financial reporting can help attract debt and equity financing 2024 Community Newsletter Auditing concepts: Close-up on materiality What is your external auditor’s responsibility for cybersecurity? Fraud in banks: Are you keeping occupational fraud under control? Top Blog Posts of 2023 Are you ready for year-end inventory counts? How to get the financing your not-for-profit needs Accounting for M&As 4 ways to prepare for next year’s audit FASB approves updated rules for disclosing income taxes Navigating Regulatory Changes: How Financial Institutions Can Stay Compliant FASB finalizes new crypto standard in record time A winning combination: QuickBooks + your marketing platform Navigating the percentage-of-completion method Protect your construction business with careful project documentation Financial statements at a glance Start cross-training your accounting team today Selecting a qualified auditor for your employee benefit plan Reporting UTPs on your financial statements 5 steps to track vehicle mileage in QuickBooks Receivables: Quality counts YHB Ranks Among the Nation’s Elite: Named a Top 100 & Fastest-Growing Firm Turning receivables into cash Supplement your financial statements with timely flash reports Is QuickBooks right for your nonprofit? Should your construction business invest in custom software? Why some small businesses are switching to tax-basis reporting The best way to survive an IRS audit is to prepare Why can’t my profitable business pay its bills? How to leverage AI in your accounting department Overview of discontinued operations reporting FASB votes to exempt private companies from disaggregation of income statement project 5 tips for avoiding profit fade Achieving the right balance of working capital How to use QuickBooks as a fraud detection tool How construction business owners can prepare for an IRS audit Reporting non-GAAP measures Beware of the gray areas in accounting New-and-improved accounting rules for common control leases Spring cleaning in QuickBooks How to get more from your company’s income statement Going green could save greenbacks and more YHB Ranks as Regional Leader, Fastest Growing Firms, and Firms to Watch in 2023 Close-up on sources of substantive audit evidence Use visual aids to enhance financial reporting 11 ways your construction company can avoid accounting mistakes Tap into specialized functions in QuickBooks Now hiring: 10 questions to ask bookkeeper candidates Coming soon: 5 accounting rules that take effect in 2023 2023 Community Newsletter Auditing accounting estimates New report shows a decrease in CAMs in 2022 FAQs about QuickBooks What happened to the international convergence project? Pick the right accounting method for your business Top Blog Posts of 2022 Is it time to update your accounting practices? How to report software costs What to do if your CFO or controller leaves Accounting policies and procedures are essential for nonprofits, too Preparing for year-end inventory counts Reap the benefits of QuickBooks software solutions New accounting rules for supplier finance programs Boo! Consider a surprise audit to keep your accounting department on its toes 5 Steps to Ensure a Successful Remote Not-for-Profit Audit Ratio analysis: Extracting actionable data from your financials SEC Chair Gensler warns about conflicts of interest FASB proposes last-minute changes to lease accounting rules Identifying the Right SOC Report for Your Company How auditors use Benford’s Law to assess transactions Using agreed-upon procedures to target specific items of concern Why auditors prefer in-person interviews to assess fraud risks Is your current bad debt allowance reasonable? New law puts “book income” in the crosshairs Are your risk-management practices keeping up with the times? Cyber risks: A critical part of your auditor’s risk assessment How external confirmations are used during an audit Evaluating “going concern” concerns How to account for collaborative agreements Last call for lease accounting Paying tribute to auditor independence Consider stress testing to lower risks Private business owners: Don’t wait until year end to evaluate financial performance Warning for retailers and other businesses using the LIFO method Dig deeper! Find hidden treasure in financial statement footnotes Reporting Contingent Liabilities? YHB Expands Maryland Presence with Acquisition of Glass Jacobson How inflation could affect your financial statements Do you know the difference projections and forecasts? Are you getting the most out of your Audit Committee? Are you getting the most out of your financial statement audit? Do you know the signs of financial distress in a business? Leveraging internal audits Goodwill in a bad economy FAQs about fair value in accounting Deciding between cash and accrual accounting methods Timing counts: Reporting subsequent events Eyes on related parties Going Private New audit committee survey reveals trends on risks, ESG reporting and more Are you ready for the new disclosure requirements for government assistance? YHB leader Krystal McCants named in the Top Financial Advisors List 4 levels of audit opinions Take your financial statements to the next level Audit disclosures: Why the fine print is important 2022 Community Newsletter The ABCs of activity-based costing Preparations vs. Compilations How to forecast smarter Data Governance Program | Executive Summary Reporting and managing inventory Virginia Raises Minimum Wage KPIs: What are they, and which ones count? Top Blog Posts of 2021 Digitizing the accounts receivable process Rolling forecasts provide flexibility in uncertain times Coming soon: New accounting rule on government assistance disclosures Are you ready for the upcoming audit season? Look to the future with a QOE report How to Assess Fraud Risks Today FASB Offers Practical Expedient for Private Companies that Issue Share-based Awards Data Visualization: A Picture is Worth 1,000 Words Demand Mounts for ESG Attestations Going Concern Disclosures Today 10 Financial Statement Areas to Watch for COVID-related Effects Flash Reports: Real-time Financial Reporting Is it time to upgrade your accounting system? Related-party transactions draw attention from auditors Restating Financial Results Best practices for reporting business-related T&E expenses Financial reporting issues to consider in “going private” transactions Private companies: Are you on track to meet the 2022 deadline for the updated lease standard? CAMs: Thumbs up or thumbs down? Have you followed up on the management letter from your audit team? Analytics software: A brave new world in auditing Financial statements: Take the time to read the entire story Internal control questionnaires: How to see the complete picture Is your company ready for agile auditing? Auditing WIP Accounting estimates present challenges in times of uncertainty Follow the cutoff rules for revenue and expenses DOL Issues Cybersecurity Best Practices for Retirement Plans: What you need to know Accounting methods: Private companies have options Hit or miss: Is your working capital on-target? How to strengthen your internal controls Using your financial statements to evaluate capital budgeting decisions Receivables may be a source of cash in tough times What’s “fair value” in an accounting context? How auditors assess cyber risks Classifying Workers in the Construction Industry 4 ways to improve the effectiveness of your audit committee The American Rescue Plan Act has passed: What’s in it for you? The American Rescue Plan Act of 2021 Reporting restricted cash Accounting for property, plant and equipment assets Concerned About Cash Flow in the Construction Industry Implementation of ASC 606: Higher Education Key Aspects of the 2020 Compliance Supplement Addendum 2020 Tax Extenders Change for Residential Rental Property Depreciation Using the Employment Retention Credit to Supplement Payroll Additional Payroll Help from the New Stimulus Bill Employment Credit for Schedule C Businesses Top Blog Posts of 2020 Major Changes to Meals Expense Deductions for Tax Years 2021 and 2022 New Rules Relating to PPP Loan Forgiveness Overview of Second Round of PPP Funds Congress Passes New Stimulus Bill How COVID-19 could impact year-end inventory counts Four Managers Promoted to Principal Across Virginia PPP Loan Forgiveness: Should I wait to apply? 5 common accounting software mistakes to avoid Board Governance SEC Modernizes Disclosures of Business, Legal Proceedings, and Risk Factors Under Regulation S-K What does the executive action deferring payroll taxes mean for employers and employees? 6 key IT questions to ask in the new normal Understanding OMB Memorandum 20-26 YHB Principal Kim Belcher Appears on American Association of Bank Directors Podcast IRS guidance provides RMD rollover relief Accounting for the PPP Loan and Related Forgiveness The latest news on nonprofit fraud is here Overcoming the challenges of remote auditing during the COVID-19 crisis FASB Passes ASU 2020-05 In Response to Coronavirus Businesses revise sales compensation models during pandemic PPP Borrowers Get Concessions, Additional Guidance on Forgiveness The EIP Debit Card Debacle The IRS clarifies the deductibility of PPP-funded expenses Here’s how to handle gifts in kind and donated services Surviving the COVID-19 crisis: A nonprofit action plan New COVID-19 law makes favorable changes to “qualified improvement property” 5 ways to protect remote workers — and your business — from cyberattacks Questions to ask when making COVID-19 risk disclosures Congress passes Interim Stimulus Plan PPP – What we know about loan forgiveness (and what we don’t) Using your financial statements during an economic crisis Gift tax filing and payment deadlines extended to July 15 CARES Act offers new hope for cash-strapped nonprofits Beware: Coronavirus may affect financial reporting Fake COVID-19 treatments and other new fraud schemes The CARES Act Employee Retention Tax Credit Security Implications and Resources for Enabling Your Remote Team Not-For-Profits | COVID-19 CONSIDERATIONS SBA Guidance and Loan Resources Senate Passes CARES Act Construction Industry | COVID-19 CONSIDERATIONS Healthcare Organizations | Tips for Dealing with COVID-19 What you need to know about the Families First Coronavirus Response Act Virginia Tax Update Federal Tax Filing Delayed until July 15 Understanding the Uniform Guidance Suspension and Debarment Regulations YHB Construction Industry Quarterly Update – December 2019 How to keep track of small tools and equipment Engage supporters with your nonprofit’s annual report Not-For-Profit Parking Tax Key Review Points of Form 990 Monitoring Subrecipients in Compliance with the Uniform Guidance Associations: Avoid certain activities to preserve tax-exempt status Fiduciary duties: What your board members need to know What To Do If Your Nonprofit Receives an IRS Audit Letter YHB Represents Community Banks in Washington, DC Three Questions to Ask Your Auditor Before Your First Benefit Plan Audit National Manufacturing Outlook Survey Could a PEO help your construction business overcome its HR challenges? 4 tax-savvy wealth-transfer strategies for contractors What construction companies should know about IDIQ contracts Contractors can calculate KPIs, too How is 3D printing affecting the construction industry? Construction companies should approach drone purchases carefully Reviewing the look-back method for long-term construction contracts The latest on occupational fraud in the construction industry A review of inventory accounting for construction companies Digital transformation is for construction businesses, too Is earned wage access a viable option for construction companies? The contractor’s role in life-cycle cost analysis Exit strategy: ESOPs for construction companies What contractors should expect when getting bonded What contractors should know about the IRA’s PWA requirements Parametric insurance may suit some construction companies YHB Assurance Team Leader Matthew Smith Joins CICPAC Executive Committee How construction business owners can make succession planning easier Construction business owners: Prepare now for possible tax law changes An Overview of the Percentage of Completion Accounting Method for Construction Businesses Change order management: Best practices for construction businesses How construction company owners can build a succession plan framework 8 ways construction businesses can proactively manage their supply chains What contractors need to know about bonding capacity Could your construction business qualify for an energy-efficient tax deduction? 7 questions contractors should ask before seeking outside financing What construction businesses with inventory should know about Section 263A Check your construction company’s vital signs with KPIs 3 big inventory issues for construction companies Strategic tax-planning Q&As for construction businesses Use proactive measures to manage materials and labor costs Your construction company may be able to claim the fuel tax credit Beefing up benefits may save tax dollars for construction businesses An insurance policy glossary for construction business owners How construction companies can cope with the skilled labor shortage 8 ways to insulate your construction company against rising costs Residential construction companies should get the word out about home energy tax credits The case for a digital construction enterprise Why smaller construction companies should consider the research credit Succession planning considerations for construction business owners Is your construction company’s 2023 budget built on a solid foundation? Prevent fraud at your construction company with a holistic approach Reviewing 10 tax accounting methods for construction companies Inflation Reduction Act expands deductions for energy-efficient construction YHB Named in The Top 50 Construction Accounting Firms Building Bonding Capacity from a CPA’s Perspective Creating a Flawless Budget For Your Construction Company YHB Named in The Top 50 Construction Accounting Firms How to Manage Your Cash Flow PPP application deadline extended Internal Financial Reporting – Keep Your Business Growing Applying ASC 606 in Construction Construction Contracts: Special Tax Rules Year-End Tax Planning Strategies for Businesses So You’re Trying to Come to Terms With Bonding Issues Trying to Manage Seasonal Construction Budgets 5 key points about bonus depreciation The IRS issues guidance on the executive action deferring payroll taxes An Update on the PPP CARES Act provisions may boost cash flow COVID-19 Related Tax Credits PPP Loan Forgiveness Application SBA Clarifies Good-Faith Certification Important Guidance & Requirements on Paycheck Protection Program Opportunity zones may increase demand but present risks Keeping an eye on taxes: the CARES Act and construction Classify carefully: IRS continues to scrutinize independent contractors Have you looked online for skilled labor? IRS extends more Tax Deadlines to Cover individuals, trusts, estates, corporations and others Paycheck Protection Program Application IRS Issues Guidance on a 90-Day Extension for Tax Payments 7 tips for avoiding construction disputes New accounting standard: Are there leases hiding in your contracts? The potential of robotic process automation YHB Bolsters Construction Industry Expertise with Acquisition of Consulting Practice Is your accounting software living up to the hype? YHB Construction Industry Quarterly Update – August 2019 Watch out for joint employer rule Being A Strong Leader | Great Leadership Is An Invaluable Tool Final pass-through deduction regs offer welcome guidance Could a captive insurance company suit you? Construction Industry Update | Q1 2019 Mixed reality: The next BIM thing in construction tech? Steel yourself against rising materials prices Following the fundamentals of employee retention A Fresh Look At The 20% “Pass-Through” Deduction Business deductions for meal, vehicle and travel expenses: Document, document, document How manufacturers can prevent cyberattacks Your Contractor’s License: Don’t Leave Home Without It Don’t Put Off Creating A Well-Crafted Buy-Sell Agreement Business interruption insurance can help mitigate disaster Tax Reform Has Expanded Availability of Accounting Methods To Construction Companies Should C Corporations be Revisited? Construction Industry Quarterly Update | Q2 2018 Contractor controlled insurance can benefit some growing companies Attract and retain talent with equity-based compensation Are you ready for the new revenue recognition standard? Should you reconsider your entity choice? Failing to properly complete Form I-9 can be costly Construction Industry Quarterly Update | Q1 2018 Focus on collaboration: The estimator’s changing role Lock down financial assets with the right controls Planning for Potential & Seizing Opportunity is Critical for Manufacturers Exploring the many facets of an ESOP Public projects | Leverage fringe benefits to reduce costs We’re covered, right? | Additional insured provision doesn’t guarantee protection 3 tips for dealing with design issues Construction Industry Update | Q4 2017 Reviewing retainage, in concept and practice Explore potential savings in 2017’s key areas New AIA contracts emphasize insurance requirements Does your company need a controller or CFO? Construction Industry Update | Q3 2017 Corporate Tax Reform Construction Industry Update | Q2 2017 The WIP is good: A valuable management tool Is a joint venture the right choice for your company? Section 199 Deduction Looking Better for Contractors Construction Industry Update – Q1 2017 Help yourself and the environment with recycled materials Despite Industry Headwinds, U.S. Manufacturers Are Optimistic Looking for skilled workers in all the right places Soggy Numbers – Accounting Mistakes to Avoid Third-Party Funding Helps Contractors Pursue Claims Construction Industry | Q4 Video Update Anatomy of Commercial Goodwill in a Large Professional Practice Don’t Take the Loss for a Subcontractor’s Default Equalization Payments May Not Work For Illiquid Assets Use Freight Classification Criteria to Lower Shipping Costs Establishing Rates for Government Contracts Forming a Construction Firm Debt Management Plan Tax breaks in 2025 and how The One, Big, Beautiful Bill could change them The Power of Pause: YHB’s Wellness Week 2025 The advantages of a living trust for your estate plan The House passes The One, Big, Beautiful Bill Act: An Overview of its Tax Provisions Digital assets and taxes: What you need to know EV buyers, beware! House GOP bill ends clean vehicle tax credits after 2025 How working in the gig economy affects your taxes The tax rules for legal awards and settlements: What recipients should know YHB Principal Krystal McCants Appointed as Chairman for VSCPA IRS clarifies theft and fraud loss deductions Still have tax questions? You’re not alone The “wash sale” rule: Don’t let losses circle the drain 6 inventory management tips in an uncertain tariff landscape YHB Named One of USA Today’s Most Recommended Accounting Firms Understanding the “step-up in basis” when inheriting assets What tax documents can you safely shred? And which ones should you keep? Mitigate the risks: Tips for dealing with tariff-driven turbulence An essential tax deadline is coming up — and it’s unrelated to your 2024 return filing YHB Recognized as a 2025 “Top Employers for Interns” Discover if you qualify for “head of household” tax filing status Deduct a loss from making a personal loan to a relative or friend YHB Joins Choreo Partner Alliance™ To Expand Wealth Offering for Clients Beneficial ownership information reporting requirements suspended for domestic reporting companies Turning stock downturns into tax advantages Disaster victims may qualify for tax relief … including on amended returns YHB Recognized Among Largest Accounting Firms in Greater Baltimore & Washington, D.C. YHB Named to Accounting Today’s Top 100 Firms & Regional Leader List for 2025 Riding the tax break train: Maximizing employee transportation fringe benefits The 2024 gift tax return deadline is coming up soon Can I itemize deductions on my tax return? YHB Expands Leadership Team with Appointment of Chief Strategy Officer You may be able to make a deductible IRA contribution for last year this year Financial relief for families: The benefits of the Child Tax Credit YHB Honored with 2024 Gold Level Healthy Workforce Designation by Cigna Healthcare Maryland’s Paid Family and Medical Leave Program: What Employers Need to Know Taming the tax tangle if you’re retiring soon YHB Honored with ClearlyRated’s 2025 Best of Accounting Award for Service Excellence Looking ahead to 2025 tax limits as you prepare to file your 2024 return Don’t Miss Out: Claim Your Share of the $5.54 Billion Credit Card Settlement Early bird tips: Answering your tax season questions Do you have questions about taking IRA withdrawals? We’ve got answers 2025 Tax Calendar for Individuals 2025 Tax Calendar for Businesses A Look Ahead: Evolving Together in 2025 Do you have questions about taking IRA withdrawals? We’ve got answers Saving for college: Tax breaks and strategies your family should know Preparing for the FFIEC CAT Phase-Out: Exploring New Cybersecurity Assessment Options for Financial Institutions Pennsylvania Introduces New Annual Filing Requirement for Registered Businesses Maximize your 401(k) in 2025: Smart strategies for a secure retirement Savings bonds and taxes: What you need to know Understanding IRS Form 7206: Reporting Self-Employed Health Insurance Premiums for S-Corporation Shareholders Top Blog Posts of 2024 Business alert: BOI reporting requirements have been suspended for now YHB Named One of America’s Best Workplaces for 2025 Your guide to Medicare premiums and taxes Does your small business need to file a BOI report? The deadline is approaching Senior tax-saving alert: Make charitable donations from your IRA IRS Reporting Requirements for 2024 Partnership Interest Transfers: What You Need to Know How do auditors verify account balances and transactions? Federal court rules against DOL’s “white collar” overtime rule How inflation will affect your 2024 and 2025 tax bills Businesses can still cut their 2024 taxes RetirePath Virginia: A Complete Guide to the State’s New Retirement Savings Program Get tax breaks for energy-saving purchases this year because they may disappear Judge Blocks New Overtime Rule: What It Means for Workers and Employers It’s not too late to trim your 2024 taxes Unlocking the mystery of taxes on employer-issued nonqualified stock options Is a PTET election right for your construction company? How the U.S. election changes the outlook for taxes How to report contingent liabilities in your company’s financial statements Maryland Pass-Through Entity Tax Updates: New Resources and Tools You don’t have to be in business to deduct certain vehicle expenses Maximize your year-end giving with gifts that offer tax benefits QuickBooks Desktop Versions Are Being Discontinued – We Can Help! Make year-end tax planning moves before it’s too late! Understanding the $7,500 federal tax credit for buying an electric vehicle Working remotely is convenient, but it may have tax consequences YHB Honored as a Top Workplace in Accounting for 2024 The tax implications of disability income benefits Do you owe estimated taxes? If so, when is the next one due? YHB Named Among 2024 Best Companies to Work for in Maryland IRS ramps up compliance enforcement against certain businesses YHB Climbs in IPA’s Top 100 Firms & Retains Fastest-Growing Firm Status IRS issues final regulations on inherited IRAs Understanding FinCEN BOI Reporting: A Crucial Update for Business Owners Planning your estate? Don’t overlook income taxes The tax consequences of selling mutual funds Maximizing Tax Benefits with Pass-Through Entity Tax (PTET): A Guide for Virginia, Maryland, and West Virginia The Power of Pause: A Note from Our CEO Understanding the DC Ballpark Fee: Essential Information for Eligible Businesses Federal regulators expand overtime pay requirements, ban most noncompete agreements YHB’s Fredericksburg Office is Moving Federal regulators expand overtime pay requirements, ban most noncompete agreements Navigating COVID-Related Tax Credits for Self-Employed Individuals in 2021 How Virginia’s Retroactive Pass-Through Entity Tax Credit Can Benefit Your Business The pros and cons of turning your home into a rental Update on retirement account required minimum distributions The tax deadline is almost here: File for an extension if you’re not ready President Biden’s Proposed Budget Highlights his Tax Agenda Beware of a stealth tax on Social Security benefits New option for unused funds in a 529 college savings plan Navigating Required Minimum Distributions for Inherited IRAs: A Guide for Beneficiaries The IRS unveils ERC relief program for employers Answers to your tax season questions Urgent Update: ERC Claim Deadline is Proposed to Change The “nanny tax” must be paid for nannies and other household workers Court awards and out-of-court settlements may (or may not) be taxed IRS announces details for ERC Voluntary Disclosure program Unlocking the SAVE Plan: 7 Crucial Insights into the Federal Student Loan Overhaul You Need to Know IRS delays new reporting rule for online payment processors 5 strategies to cut your company’s 2023 tax bill The 2024 cost-of-living adjustment numbers have been released: How do they affect your year-end tax planning? Take action now to reduce your 2023 income tax bill Accounting in the Digital Age: How Technology and Outsourcing are Transforming Return Preparation Navigating the Changing Tides: The State of the Accounting Profession IRS Cracking Down on ERC Claims Offers Withdraw Options – What Should You Do? Understanding the Corporate Transparency Act (CTA): Who’s In and Who’s Out Facing a future emergency? Two new tax provisions may soon provide relief IRS offers a withdrawal option to businesses that claimed ERTCs Contributing to your employer’s 401(k) plan: How it works Are scholarships tax-free or taxable? The tax implications of renting out a vacation home Casualty loss tax deductions may help disaster victims in certain cases What You Need to Know as an Independent Contractor YHB Honored on Baltimore Business Journal’s Fast 50 Awards List YHB’s Owings Mills and Baltimore Are Offices Moving Preparing for the Federal Estate and Gift Tax Exemption Provision Sunset in 2025 Navigating the Corporate Transparency Act (CTA): What You Need to Know Investment swings: What’s the tax impact? Evaluate whether a Health Savings Account is beneficial to you IRS suspends processing of ERTC claims What are the tax implications of winning money or valuable prizes? Navigating IRS Updates: Employee Retention Credit & Your Business Virginia Approves Budget: Key Highlights for Taxpayers & Businesses Plan now for year-end gifts with the gift tax annual exclusion YHB Welcomes Two Directors IRS issues guidance on new retirement catch-up contribution rules Selling your home for a big profit? Here are the tax rules Pocket a tax break for making energy-efficient home improvements The IRS warns businesses about ERTC scams IRS provides transitional relief for RMDs and inherited IRAs Retirement account catch-up contributions can add up Disabled family members may be able to benefit from ABLE accounts Can you deduct student loan interest on your tax return? Moving Mom or Dad into a nursing home? 5 potential tax implications Beware of ERC Scams: IRS Warns of False Claims for Employee Retention Credit That email or text from the IRS: It’s a scam! West Virginia Implements Income Tax Rate Cut and Property Tax Rebate in 2023 When can seniors deduct Medicare premiums on their tax returns? Are you married and not earning compensation? You may be able to put money in an IRA Virtual currency lands in the IRS’s crosshairs IRS and Treasury release guidance on the monetizing energy credits YHB Principal Krystal McCants Appointed as Vice Chair for VSCPA What’s in the Fiscal Responsibility Act? Reduce the impact of the 3.8% net investment income tax 4 tax challenges you may encounter if you’re retiring soon IRS Notice 2023-30: Safe Harbor Deed Language for Conservation Easement Clauses Being a gig worker comes with tax consequences Questions you may still have after filing your tax return The IRS clarifies what counts as qualified medical expenses There’s a favorable “stepped-up basis” if you inherit property Paperwork you can toss after filing your tax return IRS guidance coming regarding the IRA’s Clean Vehicle Credit Some taxpayers qualify for more favorable “head of household” tax filing status The tax rules for donating artwork to charity Demystifying deferred taxes Two important tax deadlines — and they don’t involve filing your 2022 tax return President Biden’s proposed budget includes notable tax provisions Extension Benefits and Filing Requirements YHB named on Fastest Growing Firms in the United States List The 2022 gift tax return deadline is coming up soon U.S. Supreme Court rules against the IRS on critical FBAR issue Claiming losses on depreciated or worthless stock Awarded money in a lawsuit or settlement? It’s only tax-free in certain circumstances There still may be time to make an IRA contribution for last year New Beneficial Owner Rules Will Impact Most Businesses Starting in 2024 Reading the tea leaves: Potential tax legislation in the new Congress Child Tax Credit: The rules keep changing but it’s still valuable YHB Elects Tom Milburn as Next CEO Answers to your questions about 2023 limits on individual taxes YHB Named in the 2023 America’s Best Tax and Accounting Firms by Forbes Common accounting pitfalls for startups to avoid Retirement plan early withdrawals: Make sure you meet the requirements to avoid a penalty Why you might want to file early and answers to other tax season questions 5 benefits of outsourcing your accounting needs Tax-saving ways to help pay for college — once your child starts attending Tax-wise ways to save for college SECURE 2.0 law may make you more secure in retirement Year-end spending package tackles retirement planning, conservation easements Renting to a relative? Watch out for tax traps Save for retirement by getting the most out of your 401(k) plan Selling stock by year-end? Watch out for the wash sale rule Answers to your questions about taking withdrawals from IRAs Strategies for investors to cut taxes as year-end approaches Year-end giving to charity or loved ones How savings bonds are taxed Act now to reduce your business’s 2022 tax bill Virginia Announces 2022 Pass-Through Entity Tax Rules Adopting a child? Bring home a tax break too 5 steps to take now to cut your 2022 tax liability You may be liable for “nanny tax” for all types of domestic workers How inflation will affect your 2022 and 2023 tax bills What do the 2023 cost-of-living adjustment numbers mean for you? Plan now to make tax-smart year-end gifts to loved ones Tax and other financial consequences of tax-free bonds Investing in the future with a 529 education plan Inflation Reduction Act expands valuable R&D payroll tax credit Don’t forget income taxes when planning your estate Is your income high enough to owe two extra taxes? Clean Vehicle Credit comes with caveats Seller-paid points: Can homeowners deduct them? IRS offers penalty relief for 2019, 2020 tax years The Inflation Reduction Act: what’s in it for you? Home sweet home: Do you qualify for office deductions? An “innocent spouse” may be able to escape tax liability The Inflation Reduction Act includes wide-ranging tax provisions Estimated tax payments: Who owes them and when is the next one due? CHIPS Act poised to boost U.S. businesses YHB’s Named in the 2022 IPA Top 200 Firms Is your withholding adequate? Here’s how to check How to avoid the early withdrawal tax penalty on IRA distributions Businesses: Act now to make the most out of bonus depreciation The kiddie tax: Does it affect your family? Interested in an EV? How to qualify for a powerful tax credit Rockville Office Move How disability income benefits are taxed 2022 Elite Award Winners Vehicle expenses: Can individual taxpayers deduct them? Five Tax Implications of Divorce Your estate plan: Don’t forget about income tax planning Standard business mileage rate will increase for the second half of 2022 Social Security benefits: Do you have to pay tax on them? Is it a good time for a Roth conversion? The ins and outs of Series EE savings bond taxation 4 Possible Tax Breaks for Those Caring for Elderly Relatives 3 Action Steps to Take After Tax Day Valuable gifts to charity may require an appraisal Want to turn a hobby into a business? Watch out for the tax rules Thinking about converting your home into a rental property? Congress eyes further retirement savings enhancements Once you file your tax return, consider these 3 issues Selling mutual fund shares: What are the tax implications? It’s almost that time of year again! If you’re not ready, file for an extension The tax rules of renting out a vacation property When inheriting money, be aware of “income in respect of a decedent” issues YHB Advances on 2022 Firms to Watch & Regional Leader Lists Lost your job? Here are the tax aspects of an employee termination There still may be time to cut your tax bill with an IRA The IRS again eases Schedules K-2 and K-3 filing requirements for 2021 Virginia Governor Signs Tax Conformity Are you ready for the 2021 gift tax return deadline? Married couples filing separate tax returns: Why would they do it? 2022 Tax Calendar for Individuals Maryland 2021 State Individual Income Tax Deadline Extended 2022 Tax Calendar for Businesses Did you give to charity in 2021? Make sure you have substantiation New tax reporting requirements for payment apps could affect you Major changes to 2021 Partnership Instructions for Schedules K-2 & K-3 Smooth sailing: Tips to speed processing and avoid hassles this tax season Help safeguard your personal information by filing your 2021 tax return early How will revised tax limits affect your 2022 taxes? New Features with IRS Online Account Are you eligible for a medical expense tax deduction? Gig workers should understand their tax obligations Looking for a 2022 safety net for your business? Act on EIDL funding before year end There’s a deduction for student loan interest … but do you qualify for it? IRS Guidance on Businesses that Received 4th Quarter ERC Advanced Payments YHB Named in the 2022 America’s Best Tax and Accounting Firms by Forbes How are court awards and out-of-court settlements taxed? With year-end approaching, 3 ideas that may help cut your tax bill U.S. House passes the Build Back Better Act UPDATE: Build Back Better Act Passes the House Remember to use up your Flexible Spending Account Money Don’t Forget to Factor 2022 Cost-of-Living Adjustments Into Your Year-end Tax Planning Understanding Employee Retention Credits Self-Employed individuals are eligible for sick and family leave benefits too! Businesses Must Navigate Year-end Tax Planning with New Tax Laws Potentially on the Horizon The Infrastructure Investment and Jobs Act includes tax-related provisions you’ll want to know about Potential Tax Law Changes Hang Over Year-end Tax Planning for Individuals Feeling generous at year end? Strategies for donating to charity or gifting to loved ones Factor in Taxes if You’re Relocating to Another State in Retirement Have Virtual/Crypto Currency? Time to pay attention. Thinking about participating in your employer’s 401(k) plan? Here’s how it works You may owe “nanny tax” even if you don’t have a nanny Employee Retention Credit Flowcharts for 2020 and 2021 Debate Continues in Congress Over Proposed Tax Changes Vacation home: How is your tax bill affected if you rent it out? Navigating the Tax Landscape When Donating Works of Art to Charity The Tax Score of Winning YHB Adds Talent & Expertise with Acquisition of Falls Church Firm Is a Health Savings Account right for you? Disasters and your taxes: What you need to know Learning How to Grow — Confidently Selling a home: Will you owe tax on the profit? Planning for year-end gifts with the gift tax annual exclusion Tax Credits Available for Employer’s Providing Time Off for Employee’s Receiving or Recovering from the COVID-19 Vaccine You can only claim a casualty loss tax deduction in certain situations Does your employer provide life insurance? Here are the tax consequences ABLE accounts may help disabled or blind family members IRS issues ERC guidance as Congress mulls early termination 2021 Elite Award Winners Major Updates to the Employee Retention Credit Congress Has New Focus on Cryptocurrency in Bi-Partisan Infrastructure Bill SBA streamlines forgiveness for smaller PPP loans 5 possible tax aspects of a parent moving into a nursing home YHB Expands Reach in Maryland with Baltimore Merger You may have loads of student debt, but it may be hard to deduct the interest Make the most of the Employee Retention Credit Still waiting for your 2020 Federal tax refund? You aren’t alone. PPP forgiveness and repayment: What businesses need to know now Can taxpayers who manage their own investment portfolios deduct related expenses? It depends There’s currently a “stepped-up basis” if you inherit property — but will it last? YHB NAMED IN THE 2021 TOP 200 LARGEST ACCOUNTING FIRMS IRS audits may be increasing, so be prepared Here come the child tax credit payments: What you need to know Seniors may be able to write off Medicare premiums on their tax returns Tax-favored ways to build up a college fund YHB Expands Northern Virginia Presence with New Principal Retiring soon? 4 tax issues you may face Plan ahead for the 3.8% Net Investment Income Tax Received a letter from the IRS about Child Tax Credits? Let us answer your questions. Virginia Corporations have New Filing Requirement or face $10,000 Penalty Still have questions after you file your tax return? The Biden administration proposes far-reaching tax overhaul Why it’s important to meet the tax return filing and payment deadlines YHB’s Falls Church Office Moves to Meet Growth Needs Health Insurance Marketplace Re-Opens to Take Advantage of New Stimulus Bill Rules The VA individual income tax filing deadline has been extended to May 17 Individual Federal Income Tax Deadline Extended YHB Moves Up on 2021 Firms to Watch & Regional Leader List Retiring soon? Recent law changes may have an impact on your retirement savings PPP revisions target smallest businesses Changes to PPP Applications May Require Businesses to Apply ASAP 2021 Community Newsletter Don’t forget to take required minimum distributions this year SBA Re-Opens EIDL Grants with Major Changes – Apply Now! Do You Know the Rules Surrounding your Investment Wash-Sale? YHB Introduces Contactless Tax Preparation Services What do the 2021 cost-of-living adjustment numbers mean for you? Compare and contrast: How do the Republican and Democratic tax plans differ? YHB Expands Falls Church Office Talent with Krystal McCants 2020 Elite Award Winners YHB NAMED IN THE 2020 TOP 200 LARGEST ACCOUNTING FIRMS YHB Makes 2020 Best Accounting Firms to Work for List Do you have tax questions related to COVID-19? Here are some answers House passes bill to provide coronavirus relief; Senate expected to act this week Coronavirus Update for YHB Offices YHB Named on 2020 Firms to Watch & Regional Leader List 2020 Community | Annual Life & News Update New Year New Form W-4 Top Blog Posts of 2019 3 last-minute tips that may help trim your tax bill IRS Error in Tax Calculation in Schedule D Tax Worksheet (Form 1040) YHB Welcomes Justin Bryan and Luke Gore as Partners The Path from Intern to First Year Associate YHB NAMED ON THE 2019 100 BEST ACCOUNTING FIRMS TO WORK FOR Qualified Opportunity Funds and the Opportunity for Large Tax Savings YHB NAMED IN THE 2019 TOP 200 LARGEST ACCOUNTING FIRMS Will You Need to Amend Your 2018 Tax Return? 2019 ELITE Award Winners New Tax Law Impacts Gold Star Families YHB Acquires Legacy Accounting Firm in Falls Church A review of significant TCJA provisions impacting individual taxpayers 2019 Q1 tax calendar: Key deadlines for businesses and other employers Check deductibility before making year-end charitable gifts Tax planning for investments gets more complicated Now’s the time to review your business expenses Finding Work-Life Balance Through Flexible Work Arrangements From Tech to Tax- Starting A Career at YHB Why Is Vendor Management Important? YHB NAMED ON THE 2018 TOP 100 BEST ACCOUNTING FIRMS TO WORK FOR LIST YHB Named in the 2018 Top 200 Largest Accounting Firms New Loss Limitations for Non-Corporate Taxpayers YHB NAMED AS A 2018 REGIONAL LEADER BY ACCOUNTING TODAY YHB Launches Wealth Advisory Firm Richmond Office Celebrates the Firm’s 70 Anniversary 2017 Year-End Moves to Prepare for Tax Cuts and Jobs Act YHB Manager Selected for Leadership Academy Don’t check your bags just yet… IRS Updates Per Diem Rates Update on IRS Disaster Relief YHB Named in Top 200 Largest Accounting Firms YHB Celebrates 70 Years of Clients & Community YHB WELCOMES MATT SMITH AS PRINCIPAL IN WINCHESTER Gone Phishing YHB NAMED AS A 2017 REGIONAL LEADER IN the Capital Region BY ACCOUNTING TODAY Chris Pearson to Speak in Loudoun County The tax-smart way to replace a business vehicle YHB Raises Funds for Men’s Health YHB LAUNCHES NEW WEBSITE 3 Taxes People Love to Hate Compare and Contrast the Republican and Democratic Tax Platforms Pokémon Go: It’s Not Just for Kids Anymore Back-to-School Tax Tips for Grownups Tax-Savvy Planning Strategies for Inherited IRAs It’s Time to Review Your Financial Planning Options New Version of Form I-9 Issued Year-End Tax Strategies for Small Businesses Get Ready Businesses: Some Filing Due Dates Are Changing It’s Time for Individuals to Plan for Taxes in 2016 and Beyond Report Predicts Record Contributions on Giving Tuesday 2016 Year-End Reminder: Don’t Forget FSAs Fraud Alert: The ACFE Puts a Spotlight on White Collar Crime Quantifying Economic Damages Use Financial Statements to Make a Solid First Impression A Way to Increase Donor Confidence Midyear Planning for Vacation Home Rentals with Significant Personal Use Profit From the Domestic Production Activities Deduction How the Federal Reserve Works Apply the Critical Path Method to Manage Cash Flow Protect Your Accounts from Identity Theft and Fraud 10 Ideas to Increase Profits Donating IRA Money to Charity: A Tax-Smart Plan Entities that Do Not Qualify for 501(c)(3) Status Protect Against Accidents and OSHA Penalties Keeping Tax-Smart Corporate Minutes Good Health Can Mean Good Business Green Tax Breaks for Individuals Don’t Horse Around with Hobby Losses Claiming Business Deductions for Work-Related Education Costs A Decision Not Made Is Still a Decision Myths and Truths about Business Valuation Manage Your Fixed Assets with QuickBooks When Can You Deduct Theft Losses? A Joint Expert Could Be Just What the Court Ordered Eight Reasons to Certify Your Company’s Financial Statements Eight Steps to a ‘Lean Manufacturing’ Approach Medical Practice Scheduling Tips to Help Improve the Bottom Line QuickBooks for Nonprofits Job Cost Accounting: Seven Tips to Make It Easier Valuation Issues to Address in a Buy-Sell Agreement Avoid Retirement Account Rollover Pitfalls Notify the IRS if You Change Your Address What Can Employers Do with Forfeited Employee FSA Balances? No Current Deductions Before Business Commences Itemized Deductions for Charitable Donations When Can You Deduct Moving Expenses? Part 1 – You’re an Executor, Now What? YHB Client Spotlight: Blue Ridge Landscape & Design, Inc. Top 10 Issues: Mergers and Acquisitions
