Professional athletes have become world-renowned. Their careers and personal lives are splattered across the media each and every day. One thing you may not hear about is athlete income tax situation. Many of the athletes that are household names are being paid from multiple sources beyond the team they play for. The complexities of professional [...]
Generally, cash can be found in one of three ways: you earn it, you receive it as a gift, or you borrow it. The downside about earning income is paying income taxes. When you are gifted cash, you normally don’t have to do anything else with the tax-free money except decide on how to spend [...]
As a business owner, you likely have two primary goals for your work: make as much money as possible and do anything possible to lower your tax bill. However, many small business owners miss one key deduction right in front of them: their children. Many business owners are unaware there is a tax strategy where they [...]
As the end of the year draws near, having a head start in collecting information for next year’s taxes is beneficial. In addition, having an accounting year-end checklist can help make sure all outstanding business tasks are taken care of before the new year begins. Use this checklist to better meet your company needs: Get all [...]
The award celebrates companies with exceptional standards for ethical business practices and service. [Springfield, MO – October 18, 2021] – Abacus CPAs, LLC was recently named one of Better Business Bureau’s Torch Award Recipients which identifies, recognizes, and honors companies that are committed to exceptional standards for ethical business practices and service to their customers, [...]
What makes you a leader is not defined by your position but by your attitude. Anyone can be a leader, despite their title and regardless of their position. If you strive to be a leader, it's time to move past the idea of waiting for a label or status to give you authority. It's time to [...]
Accountants students worldwide know that becoming a CPA is one of the “must-haves” for a successful career in public accounting and a prestigious certification to hold in private accounting. Many professionals will pursue the CPA, but not all will succeed. The cumulative passing rate for CPA Exam in 2020 was 57.67% - an unusually high number [...]
When you buy new equipment for your business, you have the option of expensing the entire cost of that equipment with two different methods: Bonus or Section 179 Depreciation. Bonus Depreciation Generally, bonus depreciation will let you deduct a percentage of that cost upfront, while Section 179 enables you to deduct a set dollar amount of [...]
[Springfield, MO – September 7, 2021] – Abacus CPAs, LLC is proud to announce that Shannon Terry, CPA, has been awarded the distinction of Trusted Adviser in Accounting as part of Springfield Business Journal’s 2021 Trusted Advisers. The award ceremony will be held later today at DoubleTree Convention Center. Terry, who joined the firm in [...]
“Entrepreneurs are people who give up security in exchange for opportunity. Unlike most people who are content with a job, a regular paycheck, and clearly defined responsibilities, entrepreneurs are willing to jump into the unknown, betting on their intelligence, expertise, and ability to problem-solve and create solutions in the hopes of generating a profit.” – The [...]
