It’s pretty common for clients to consider buying equipment at year's end in order to write it off for tax purposes. Since this is one of the more arbitrary parts of both accounting and taxes, a little thought is in order. Bottom line: We need to think about depreciation timing for when the tax deduction will help the most.

Another year, another season of taxes. It’s the same time every year, but for many of us, the time seems to sneak up as the days go by quickly.

As the prospect of a new year dawns, it's an opportune moment to consider refining our record-keeping habits. Transitioning from traditional paper records to digital platforms can be transformative, and here's a comprehensive guide on how to make that change.

Many business owners and farmers often do not prepare their own federal tax forms due to the complexity of the tax laws. At the beginning of each year, farmers must review their recordkeeping, generate income and expense reports, capital asset purchases and sales lists, and meet with their tax professionals.