Rudd and Company, PLLC

As a business owner, you don't want to get blindsided by any financial catastrophy. That's why having a risk management plan can better prepare you for anything that negatively affects your business. By applying the right resources and tools, you can minimize, monitor and control the negative events while focusing energy and attention on how to respond. If you're looking for the right help with your business, you've come to the right place. Schedule your first appointment with us today at (208) 356-3677

Your company's assets, liabilities, and owner equity are displayed on your balance sheet. In essence, it is a comparison of your assets and liabilities. Keep in mind, liabilities are what your business owes, and assets are what your business owns. Equity represents the ownership interest in the company and is calculated by subtracting the liabilities from the assets of your company. Contact us at (208) 356-3677.

To be successful, a risk management plan must meet legal, contractual, internal, social and ethical goals. There are three steps to follow in order to achieve these goals. They are: 1) risk identification; 2) risk analysis and assessment; and 3) risk mitigation and monitoring. Risk identification means finding and documenting risks to the organization. Risk analysis and assessment requires determining the probability of a risk and the potential outcomes. Risk mitigation involves developing methods and finding options to reduce the harm that can occur. Need help with your business? We've got you covered. Contact us today at (208) 356-3677

VAT, standing for value-added tax, plays a large role in several countries’ tax systems. It is important to consider when a business is looking to conduct and manage financial affairs abroad as it is employed by over 160 countries worldwide. To best navigate the VAT landscape, learn the principles of tax credits and VAT refunds. https://bit.ly/4atdflg

The first step to year-end tax planning is to develop a base case. Ask us to prepare a pro forma 2024 tax return for you as this information will help you understand your current tax situation and how that could change depending on what you do from now to year-end. To get started, contact us at (208) 356-3677.

Concerned about you or your business being audited by the IRS? If you've documented everything, there’s no reason to freak out. Audits are mostly about seeking documentation, not making accusations. Stop being your own accountant. Talk to us today at (208) 356-3677 about how our comprehensive service can benefit your business! https://bit.ly/3O0Ocfv

Stress tends to be contagious. Even though you may try to protect your children from any money concerns you may be having, they will pick up on those emotions sooner or later. Transparency and honesty are the best ways to keep them in the loop without impacting their mental health. Check out the article below for tips on how to talk to your children about money. If you're looking for more personal finance tips, schedule an appointment with us today at (208) 356-3677! https://bit.ly/3UjzlAP

There are many different areas of accounting that focus on specific services and industries. Depending on your circumstances, you may need one of these specialties to help you reach the financial goals. If you need help getting your finances in order, you've come to the right place. Schedule your first consultation with us today at (208) 356-3677.

Believe it or not, accounting can significantly affect the trajectory of your business. Through understanding your financial health, you can make more informed decisions that help you to budget and forecast your investments to ensure a successful future for your company. https://bit.ly/44DeWu5

Two important tax breaks to take advantage of are the Lifetime Learning Credit and the Student Loan Interest Deduction. For the Lifetime Learning Credit, you may deduct 20% of the first $10,000 you paid in tuition and fees with up to a maximum of $2,000. Living costs and transportation are not included in the list of allowable expenses; however, books or other supplies required for coursework may be claimed. Regarding the Student Loan Interest Deduction, borrowers who paid interest on their student loans may deduct up to $2,500 from their taxable income. Give us a call at (208) 356-3677 today!