You may have had a “good” audit, but there is always room for improvement. Use what you’ve learned to your advantage by making improvements in your processes and controls throughout the year. When in doubt, ask your audit team! 1. Don’t wait Don’t wait until your next audit for audit planning. Reach out to your audit team here at LvHJ throughout the year. You will have a healthier organization if you ask questions to help connect the dots. ... more
Archives for March 2023
Can Total Compensation Really Make a Difference in Tax Accountant Jobs and CPA Jobs?
When it comes to choosing a job, many people focus on the salary offered. But money isn’t everything! While salary is important, it's not the only factor to consider. Understanding the total compensation package is crucial in making an informed decision about a job offer. This is especially true for tax accountant jobs and CPA jobs, where benefits and perks can add significant value to your overall compensation. What is Total ... more
IRS Updates Tax Relief Again for California Storm Victims
On February 24, 2023, the Internal Revenue Service announced that disaster areas in California (and parts of Alabama and Georgia) now have until October 16, 2023, to file various federal individual and business tax returns and make tax payments. Previously, the deadline had been postponed to May 15 for these areas. Please see our February article for more information! View Article For California taxpayers in designated disaster areas, the ... more
Beware the five-year rule for Roth IRA withdrawals
To withdraw money from your IRA tax-free, there are a few rules taxpayers must follow, including the widely misunderstood “five-year rule.” This article explains the ins and outs of this rule. 3 types of withdrawals To understand the five-year rule, you first need to understand the three types of funds that may be withdrawn from a Roth IRA: Contributed principal. This is your after-tax contributions to the account. Converted principal. This ... more