by Lawhorn Team Professional | Sep 23, 2019 | Advice, Financial Planning, Investments
Monopoly has been a favorite board game among kids for over 80 years. Most kids like the game because they get to make money, but what they do not realize is they are also learning valuable personal finance lessons that can help them in the future. Here are the top...
by Lawhorn Team Professional | Sep 10, 2019 | Advice, Financial Planning, Tax
We are 113 days until 2020. If you’re wondering where 2019 went, we are right there with you. As the 2018 tax extension deadline approaches on October 15, 2019, we know you are most likely not considering filing your 2019 tax return yet. But maybe we all should be....
by Lawhorn Team Professional | Jul 31, 2019 | Business Practices, Financial Planning, Miscellaneous, Tax
We all know the importance of keeping track of finances. Personal, or business, keeping “good books” helps one avoid surprises, audits, and potential fines by the IRS or other taxing authority. We also know it is always a good idea to have a professional...
by Lawhorn Team Professional | Apr 30, 2019 | Advice, Business Practices, Financial Planning, Tax
On most accounts, there has never been a better time to take the leap towards entrepreneurship in America. After all, there are have been several new initiatives that were part of the Tax Cut and Jobs Act of 2018 that helped introduce a single and flat corporate tax...
by Lawhorn Team Professional | Feb 26, 2019 | Advice, Business Practices, Financial Planning, Tax
Once all of the steps are completed in the framework of the FASB Accounting Standard concerning the Revenue from Contracts with Customers, then businesses can completely recognize the revenue. This final step recognizes revenue when or as the performance obligations...
by Lawhorn Team Professional | Feb 10, 2019 | Advice, Business Practices, Financial Planning, Tax
Previously, we addressed Steps 1, 2, and 3 of the Accounting Standard Update (ASU) No. 2014-19, Revenue from Contracts with customers. This post moves on to Step 4, allocating the transaction price to the performance obligations in the contract. This, and one final,...