Confused by tax jargon and audit terminology? Check out our new video series, Accounting for Non-Accountants! Emily and Abby will help you break down the current accounting trends and concepts that may apply to you, your business, or non-profit organization. See their first video below, and stay tuned for next month’s video as they tackle the Wayfair topic.
“Step up” in basis is a strategy that is used for avoiding capital gains taxes when an asset is passed on to the heirs upon death. The heirs receive a