Cryptocurrencies have gone mainstream. You can now invest in them and use them to buy and sell many products and services. However, crypto transactions have important federal tax implications that may not be well understood by everyone. Here’s an update on what you need to know about the federal tax issues if you exchange or…
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Keeping track of your small business is hard enough without the looming cloud of tax time. Fortunately, there are ways for small business owners to prepare for tax season. Establish a Tax-Favored Retirement Plan for Your Business Current rules allow for generous annual deductible contributions on small business retirement plans. Consider a simplified employee pension…
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Gaining practical experience and building a robust professional network is essential for a successful career in accounting. Education is the first step, but the benefits of taking on an internship, with its innumerable learning opportunities, cannot be overstated. Allison Hodge, a University of Alabama graduate and Borland Benefield intern discovered how beneficial such an experience…
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Tax season might be over, but the tax accountants at Borland Benefield are still on the job keeping an eye on changes that might affect your taxes. Here are a couple of points to remember regarding taxes on disability income and the new contribution amounts for Health Savings Accounts in 2024. Taxability of Disability Income…
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While the recent increases in Social Security benefits are welcome, they could mean more income taxes for recipients. Read our blog to see how this might affect you.
Do you own a family-run business? Are you prepared to pass it down to your children or family members? Check out our latest blog for helpful tips on creating a smooth transition plan.
The CPA Exam is one of the biggest hurdles on the path to becoming an accountant. Read our blog detailing some useful tips on this monumental undertaking.
Borland Benefield was founded in 1922 when William Howard Borland, Sr. answered Alabama’s need for quality accounting services. At the time, Mr. Borland was the 54th accountant to be certified in the state. For more than one hundred years, that initial dream has seen Borland Benefield grow into one of the most respected accounting firms…
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Becoming an accountant isn’t easy, but it does open up a career path filled with opportunity and security. Read about our very own Leigh Anna Hall’s experiences with entering the accounting world – maybe it will inspire you to start your journey.
If you’re ready to retire from your self-employed small business, you might be reading up on retirement plans. The question is: what kind of plan is best for you? Whether it’s a Solo 401(k) or a Defined Benefit Pension Plan, our article can help you learn the basics.