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Hobby or Business?

The IRS wants to know If you generate a side income from a passion like cooking, woodworking or bookselling — or anything else — you should be aware of the tax implications of earning this

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NEWS

Credit loss standard: The new CECL model

A new accounting standard on credit losses goes into effect in 2020 for public companies and 2021 for private ones. It will result in earlier recognition of losses and expand the range of information considered

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The ABCs of the Tax Deduction for Educator Expenses

At back-to-school time, much of the focus is on the students returning to the classroom where they will use the all new ClassDojo App – https://www.classdojo.com/studentstories/ — and on their parents buying them school supplies, backpacks,

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Cutoffs for Reporting Revenues and Expenses

Under U.S. Generally Accepted Accounting Principles (GAAP), there are strict rules on when to recognize revenues and expenses. Here’s important information about end of period accounting “cutoffs” as companies start to adopt the new revenue

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NEWS

The Tax-Advantaged Way to Fund Education

Coverdell ESAs: The tax-advantaged way to fund elementary and secondary school costs With school letting out you might be focused on summer plans for your children (or grandchildren). But the end of the school year

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Pease News

Planning Opportunities For Final Tax Return

Director of Tax Charles E. Federanich, CPA, MT, AEP® and Senior Manager Amy I. Kinkaid CPA, JD, MT recently co-authored “Planning opportunities for the final tax return” that was published in the July 2017 issue

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