Cryptocurrencies have marked their place in the economy, with investors banking early on forms like Bitcoin, and walking away with exponential growth to their investment. By what about paying employees in this form? “When a company first approaches its employees about paying them in cryptocurrencies, like Bitcoin and Ether, employees might be a bit apprehensive. It might take some good, old fashioned education to get people on board with receiving digital coins instead of pay check or cash… ” [ Read more here ]
10 States With The Highest Commercial Property Taxes
An annual report from Lincoln Institute of Land Policy and the Minnesota Center for Fiscal Excellence is pointing out the recent shift in property values and how it’s affecting taxes across all 50 states. So where are the 10 states with the highest commercial property taxes today? “Property taxes that are rebounding along with recovering property values should be no surprise to landlords. However, a lag time in reassessment periods in some jurisdictions is causing some property tax bills to skyrocket…” [ Read more here ]
Accounting Services Your Business Can Depend On
Are you spending too much time keeping the books, and not focusing on growing your business? The financial team, at Sterling Tax & Accounting Services, with over 15 years experience is waiting to help you with:
Accounts Receivable, Accounts Payable, Accounts Reconciliation, QuickBooks® Set Up and Training, Small Business Payroll, Processing Small Business Quarterly Tax Reporting, Annual Government Filing, Financial Statements, and More!
“Bill Nye the Science Guy” Takes On Disney Over Accounting And Profits
“Bill Nye the Science Guy” is taking the fight to Disney, according to Variety, claiming the media giant withheld $28 million in profit from the TV science host due to accounting mistakes…
“According to the lawsuit, Nye grew suspicious in 2008 when Disney told him he owed the studio almost $500,000 because of a whopping “accounting error.” The company sent him $585,123 for his annual profit participation in April of that year, but in July asked him to send back $496,111 because of the claimed error…” [ Read more here ]
Happy Labor Day From Sterling Accounting
Sterling Accounting is your one-stop service provider that will help you cut through the paperwork and account management so you can focus on building your business! Contact Sterling Accounting and find out how they can help manage your business!
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IRS Loosening Retirement Plan Rules For Harvey Victims
The devastation in South East Texas on account of Hurricane Harvey has residents and neighbors working day and night to dry out and recover what they can. The IRS has loosened some retirement plan rules to help with the hardships being endured…
“The Internal Revenue Service granted additional relief to victims of Hurricane Harvey on Wednesday by allowing 401(k)s and other employer-sponsored retirement plans to give loans and hardship distributions to aid them without incurring penalties…” [ Read more here ]
FASB Advises Against Adopting New Hedge Standards Too Quickly
The long awaited revisions to the Financial Accounting Standards Board’s hedge accounting standard are in, but the FASB is advising against adopting the new standards too quickly.
“The accounting standards update for hedging, which FASB issued Monday, takes effect for public companies in 2019 and private companies in 2020 (see FASB releases hedge accounting standard). But FASB is also allowing early adoption for companies if they want to begin using it right away…” [ Read more here ]
Financial Accounting Standards Board Releases Hedge Accounting Standard
After a long drawn out phase, the FASB (Financial Accounting Standards Board) has released their new guidelines for hedge fund accounting…
“The Financial Accounting Standards Board has released its long-awaited hedging standard, the final component of its financial instruments convergence project with the International Accounting Standards Board…” [ Read more here ]
Let Sterling Accounting Handle Your Business Operations
Sterling Accounting is your one stop shop for cutting through the mess of paperwork, account management, payroll, and the dreaded tax time. Get the financial experts on your side and open up time to focus on extending the horizon’s of your business!
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Don’t Let Social Security Taxes Sink Your Finances
Social security taxes can sink your finances depending on your income level. Protect yourself from financial devastation with the expert accounting services from Sterling Accounting.
“Did you know that if your income is high enough, you’ll have to pay taxes on some of your Social Security benefits? In fact, you may have to pay income tax on up to 85% of your retirement benefit checks. Luckily, there are ways to reduce or even eliminate those taxes by making most of your income nontaxable…” [ Read more here ]