For various reasons, owners of individual retirement accounts sometimes withdraw some of the funds early. Unfortunately, there may be an additional penalty assessed in addition to the payment of regular income tax on the distribution. A few penalty exceptions exist, and one of them may apply if a home is purchased or built with funds received from an early IRA withdrawal. The early withdrawal penalty is intended to provide incentive for IRA owners not to withdraw funds before retirement.
14 December 2015
As a bar owner, you run the risk of employee theft in many ways -- cash, product and time. And while increasing physical security in your bar with things like cameras, management oversight and good hiring practices will help, you may also find that your accountant can help a lot in your battle against theft. Yes, your accountant, even if he or she is never in your bar. Here are 3 examples of how your accountant can help you look for signs of and prevent employee theft.
10 December 2015