Why it’s important to get your company’s financials done on time Image
Why it’s important to get your company’s financials done on time

Timeliness counts in financial reporting. Here’s why it pays to issue your company’s financial statements...

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2/29/2024
There’s a new threshold for electronically filing information returns Image
There’s a new threshold for electronically filing information returns

Businesses that file 10 or more information returns must now file them electronically.

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2/22/2024
What’s the best accounting method route for business tax purposes? Image
What’s the best accounting method route for business tax purposes?

Many businesses have a choice of using cash or accrual accounting for tax purposes. If you’re one of them, whic...

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2/13/2024
9 tax considerations if you’re starting a business as a sole proprietor Image
9 tax considerations if you’re starting a business as a sole proprietor

Many new ventures start out as sole proprietorships. Here are nine considerations if you’re operating a busines...

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2/6/2024
Tax-favored Qualified Small Business Corporation status could help you thrive Image
Tax-favored Qualified Small Business Corporation status could help you thrive

There are two strong incentives for eligible small businesses to operate as a special type of entity. Learn how a Qua...

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1/16/2024
2024 Q1 tax calendar: Key deadlines for businesses and other employers Image
2024 Q1 tax calendar: Key deadlines for businesses and other employers

In the first quarter of 2024, businesses face several tax-related deadlines. Here are some key due dates and obligati...

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1/12/2024
Defer a current tax bill with a like-kind exchange Image
Defer a current tax bill with a like-kind exchange

The real estate market has been tough recently. But there are still large profits being made on some business propert...

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1/4/2024
Giving gifts and throwing parties can help show gratitude and provide tax breaks Image
Giving gifts and throwing parties can help show gratitude and provide tax breaks

Spread some holiday cheer by giving gifts to employees or customers … or throwing a festive party. But make su...

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12/14/2023
There still may be time to reduce your small business 2023 tax bill Image
There still may be time to reduce your small business 2023 tax bill

The holiday whirlwind has begun. There may be ways your small business can save on 2023 taxes. But you must act fast....

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11/28/2023
Business automobiles: How the tax depreciation rules work Image
Business automobiles: How the tax depreciation rules work

Complex calculations are involved in claiming depreciation deductions for the business use of a passenger automobile....

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10/19/2023
How IRS auditors learn about your business industry Image
How IRS auditors learn about your business industry

IRS examiners use publications called Audit Techniques Guides to prepare for audits in certain industries and those w...

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10/10/2023
IRS suspends processing of ERTC claims Image
IRS suspends processing of ERTC claims

With fraudulent Employee Retention Tax Credit claims on the rise, the IRS has suspended claim processing through year...

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10/5/2023
What types of expenses can’t be written off by your business? Image
What types of expenses can’t be written off by your business?

You want to be able to deduct business expenses on your tax return. But in order to be deductible, expenses must be o...

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10/3/2023
2023 Q4 tax calendar: Key deadlines for businesses and other employers Image
2023 Q4 tax calendar: Key deadlines for businesses and other employers

The leaves are beginning to turn in some areas so it’s time for businesses to start thinking about year-end tax...

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9/26/2023
IRS issues guidance on new retirement catch-up contribution rules Image
IRS issues guidance on new retirement catch-up contribution rules

The SECURE 2.0 Act’s new retirement catch-up contribution rules caused problems and confusion for employers and...

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9/14/2023
The IRS warns businesses about ERTC scams Image
The IRS warns businesses about ERTC scams

Beware of fraudsters hyping the Employee Retention Tax Credit! Not all businesses are eligible despite the claims you...

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9/12/2023
Divorcing business owners should pay attention to the tax consequences Image
Divorcing business owners should pay attention to the tax consequences

Divorce can be financially complicated, especially if one or both of the spouses owns a business.

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8/29/2023
Planning ahead for 2024: Should your 401(k) help employees with emergencies? Image
Planning ahead for 2024: Should your 401(k) help employees with emergencies?

Next year, a new provision kicks in that may allow businesses to help employees in financial emergencies through thei...

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8/15/2023
Receive more than $10,000 in cash at your business? Here’s what you must do Image
Receive more than $10,000 in cash at your business? Here’s what you must do

Some businesses receive large amounts of cash. Depending on the amounts, they may be required to report the transacti...

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8/8/2023
The advantages of using an LLC for your small business Image
The advantages of using an LLC for your small business

You can operate your small business in several ways. For example, your entity can be a sole proprietorship, an S corp...

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8/1/2023
A tax-smart way to develop and sell appreciated land Image
A tax-smart way to develop and sell appreciated land

There may be a way to reduce a large tax bill if you own appreciated land that you want to subdivide and develop for ...

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7/25/2023
Use an S corporation to mitigate federal employment tax bills Image
Use an S corporation to mitigate federal employment tax bills

Converting an unincorporated business into an S corporation may help you cut your self-employment tax bill. Here's ho...

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7/13/2023
Starting a business? How expenses will be treated on your tax return Image
Starting a business? How expenses will be treated on your tax return

Launching a business? Here’s how start-up expenses are handled on a federal tax return.

Read More »
7/6/2023
Virtual currency lands in the IRS’s crosshairs Image
Virtual currency lands in the IRS’s crosshairs

If you do business with virtual currency, it’s time to read up on related tax requirements. The IRS is paying c...

Read More »
6/22/2023
2023 Q3 tax calendar: Key deadlines for businesses and other employers Image
2023 Q3 tax calendar: Key deadlines for businesses and other employers

You might want to enjoy the lazy days of summer, but employers and businesses need to make sure not to miss these thi...

Read More »
6/20/2023
Advantages and disadvantages of claiming big first-year real estate depreciation deductions Image
Advantages and disadvantages of claiming big first-year real estate depreciation deductions

If your business has a choice to deduct real estate expenses or depreciate them over several years, the decision may ...

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6/13/2023
FASB votes to exempt private companies from disaggregation of income statement project Image
FASB votes to exempt private companies from disaggregation of income statement project

As costs rise, investors and lenders are eyeing profits closely. Here’s the latest development on the FASB&rsqu...

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6/1/2023
Keep these DOs and DON’Ts in mind when deducting business meal and vehicle expenses Image
Keep these DOs and DON’Ts in mind when deducting business meal and vehicle expenses

Keeping careful business records for meal and vehicle expenses can safeguard your tax deductions. Here are some DOs a...

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5/30/2023
Achieving the right balance of working capital Image
Achieving the right balance of working capital

Do you know the three keys to lowering your company’s working capital requirements?

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5/25/2023
The IRS has just announced 2024 amounts for Health Savings Accounts Image
The IRS has just announced 2024 amounts for Health Savings Accounts

Does your business provide Health Savings Accounts (HSAs) to employees? The IRS has announced the inflation-adjusted ...

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5/23/2023
If you’re hiring independent contractors, make sure they’re properly handled Image
If you’re hiring independent contractors, make sure they’re properly handled

These days, many businesses are filling vacant positions and saving money by using independent contractors. Here are ...

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5/16/2023
Use the tax code to make business losses less painful Image
Use the tax code to make business losses less painful

You may have a net operating loss for your business if your deductions for the year are more than your income for the...

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5/9/2023
Reporting non-GAAP measures Image
Reporting non-GAAP measures

Non-GAAP metrics can sometimes mislead investors! That’s why some stakeholders want a formal definition of EBIT...

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5/4/2023
4 ways corporate business owners can help ensure their compensation is “reasonable” Image
4 ways corporate business owners can help ensure their compensation is “reasonable”

C corporation owners: To keep your compensation tax deductible, you need to ensure it’s “reasonable.&rdqu...

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4/25/2023
Take advantage of the rehabilitation tax credit when altering or adding to business space Image
Take advantage of the rehabilitation tax credit when altering or adding to business space

The federal tax code encourages businesses to invest in historic buildings with a tax credit. Here are the rules.

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4/18/2023
How to get more from your company’s income statement Image
How to get more from your company’s income statement

Financial reporting is more than an exercise in compliance. Proactive owners and managers view their income statement...

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4/6/2023
Going green could save greenbacks and more Image
Going green could save greenbacks and more

Has the start of spring piqued your interest in green business practices? Eco-friendly initiatives can be good for th...

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4/4/2023
Choosing an entity for your business? How about an S corporation? Image
Choosing an entity for your business? How about an S corporation?

There are several choices of entities for a new business venture. What about an S corporation? Here are the advantage...

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3/28/2023
2023 Q2 tax calendar: Key deadlines for businesses and employers Image
2023 Q2 tax calendar: Key deadlines for businesses and employers

Does this year’s April 18 filing deadline apply to your business? What additional tax deadlines are there for b...

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3/21/2023
Close-up on sources of substantive audit evidence Image
Close-up on sources of substantive audit evidence

What types of information and procedures do auditors use to verify account balances and transactions? Anticipating do...

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3/16/2023
Changes in Sec. 174 make it a good time to review the R&E strategy of your business Image
Changes in Sec. 174 make it a good time to review the R&E strategy of your business

A tax law that passed in 2017 makes a major change to Section 174 research and experimental (R&E) expenses. Here&...

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3/14/2023
Protect the “ordinary and necessary” advertising expenses of your business Image
Protect the “ordinary and necessary” advertising expenses of your business

How does a business know if advertising and marketing expenses are “ordinary and necessary” so they can b...

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3/7/2023
Reading the tea leaves: Potential tax legislation in the new Congress Image
Reading the tea leaves: Potential tax legislation in the new Congress

With Republicans now in control of the U.S. House of Representatives, what’s the fate of prospective tax legisl...

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2/28/2023
Coming soon: 5 accounting rules that take effect in 2023 Image
Coming soon: 5 accounting rules that take effect in 2023

Is your business ready to implement these upcoming accounting rule changes?

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2/23/2023
Do you run a business from home? You may be able to deduct home office expenses Image
Do you run a business from home? You may be able to deduct home office expenses

If you’re a business owner who works from home, you may be able to save tax with home office deductions. Here a...

Read More »
2/21/2023
Key tax issues in M&A transactions Image
Key tax issues in M&A transactions

Pay attention to taxes if you’re buying or selling a business. After a transaction is complete, it may be too l...

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2/14/2023
Common accounting pitfalls for startups to avoid Image
Common accounting pitfalls for startups to avoid

Entrepreneurs often invest blood, sweat and tears to start new businesses. But few are experts in financial reporting...

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2/9/2023
Many tax limits affecting businesses have increased for 2023 Image
Many tax limits affecting businesses have increased for 2023

For 2023, high inflation has increased the adjustments the IRS makes annually to certain tax provisions. Here’s...

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2/2/2023
2023 tax calendar Image
2023 tax calendar

Reference this tax calendar to learn the 2023 deadlines for various tax-related forms and payments.

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1/26/2023
Forms W-2 and 1099-NEC are due to be filed soon Image
Forms W-2 and 1099-NEC are due to be filed soon

January 31 is an important deadline for businesses with hired workers. Here’s what’s due.

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1/24/2023
The standard business mileage rate is going up in 2023 Image
The standard business mileage rate is going up in 2023

The price of gas is lower than it was a year ago. How does this affect the amount your business can deduct for busine...

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1/19/2023
How the new SECURE 2.0 law may affect your business Image
How the new SECURE 2.0 law may affect your business

You’ve probably heard about the new SECURE 2.0 law. Here’s what it might mean for your business.

Read More »
1/17/2023
Pick the right accounting method for your business Image
Pick the right accounting method for your business

Has your accounting method kept up with your financial needs? It periodically makes sense to evaluate how you’r...

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1/12/2023
Employers should be wary of ERC claims that are too good to be true Image
Employers should be wary of ERC claims that are too good to be true

Have you heard ads on TV telling businesses how they can claim a huge Employee Retention Credit? It might be possible...

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1/10/2023
How to minimize the S corporation LIFO recapture tax Image
How to minimize the S corporation LIFO recapture tax

Converting from C corporation to S corporation status could trigger unexpected tax if you use the last in, first out ...

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1/1/2023
2023 Q1 tax calendar: Key deadlines for businesses and other employers Image
2023 Q1 tax calendar: Key deadlines for businesses and other employers

Businesses face a variety of tax-related deadlines in the first quarter of 2023. Here are some of them.

Read More »
12/20/2022
Do you qualify for the QBI deduction? And can you do anything by year-end to help qualify? Image
Do you qualify for the QBI deduction? And can you do anything by year-end to help qualify?

Owners of pass-through businesses may be able to save tax with the valuable QBI deduction by taking certain steps at ...

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12/15/2022
Choosing a business entity? Here are the pros and cons of a C corporation Image
Choosing a business entity? Here are the pros and cons of a C corporation

If you’re starting a new business, you may wonder if you should operate as a C corporation, an S corporation or...

Read More »
12/8/2022
Intangible assets: How must the costs incurred be capitalized? Image
Intangible assets: How must the costs incurred be capitalized?

Any transaction your business engages in involving intangible assets and their related costs should be analyzed to de...

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12/1/2022
Is your business closing? Here are your final tax responsibilities Image
Is your business closing? Here are your final tax responsibilities

If your business is closing its doors, taxes may be the last thing on your mind. But there are a number of tax obliga...

Read More »
11/22/2022
5 steps to take now to cut your 2022 tax liability Image
5 steps to take now to cut your 2022 tax liability

Are you interested in reducing your 2022 tax liability? There’s still time to take these year-end tax planning ...

Read More »
11/10/2022
2023 limits for businesses that have HSAs — or want to establish them Image
2023 limits for businesses that have HSAs — or want to establish them

Do you have a Health Savings Account at your business? Or are you interested in establishing one? Here are the contri...

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11/8/2022
Inflation means you and your employees can save more for retirement in 2023 Image
Inflation means you and your employees can save more for retirement in 2023

The tax-advantaged retirement plan contribution amounts will be much higher next year than they’ve been in rece...

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11/3/2022
Inflation Reduction Act expands deductions for energy-efficient construction Image
Inflation Reduction Act expands deductions for energy-efficient construction

Can you benefit from the Inflation Reduction Act’s expansion of two tax incentives for energy-efficient constru...

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10/27/2022
Providing fringe benefits to employees with no tax strings attached Image
Providing fringe benefits to employees with no tax strings attached

Your business may provide low or no-cost tax-free fringe benefits to employees. Here are the details of these benefit...

Read More »
10/20/2022
FASB proposes last-minute changes to lease accounting rules Image
FASB proposes last-minute changes to lease accounting rules

New lease accounting rules go into effect this year for private companies and nonprofits. Related-party leases contin...

Read More »
10/13/2022
Worried about an IRS audit? Prepare in advance Image
Worried about an IRS audit? Prepare in advance

Getting contacted by the IRS and told your tax return is being audited may cause business owners to panic. But you'll...

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10/4/2022
Inflation Reduction Act expands valuable R&D payroll tax credit Image
Inflation Reduction Act expands valuable R&D payroll tax credit

The Inflation Reduction Act expands the R&D payroll tax credit for eligible small businesses for tax years beginn...

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9/29/2022
Work Opportunity Tax Credit provides help to employers Image
Work Opportunity Tax Credit provides help to employers

Many small businesses are in need of new employees and may get creative in their hiring. The Work Opportunity Tax Cre...

Read More »
9/27/2022
2022 Q4 tax calendar: Key deadlines for businesses and other employers Image
2022 Q4 tax calendar: Key deadlines for businesses and other employers

It’s time for businesses to start thinking about year-end tax strategies. It’s also a good time to think ...

Read More »
9/22/2022
IRS offers penalty relief for 2019, 2020 tax years Image
IRS offers penalty relief for 2019, 2020 tax years

The IRS is providing broad-based penalty relief to most taxpayers who filed certain 2019 and/or 2020 tax returns late...

Read More »
9/15/2022
Separating your business from its real estate Image
Separating your business from its real estate

Separating the ownership of a business’s real estate from the business isn’t always advisable. But it mig...

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9/13/2022
Is your current bad debt allowance reasonable? Image
Is your current bad debt allowance reasonable?

A recent survey of audit partners found that 40% were uncertain about the outlook for their primary industries. In li...

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9/8/2022
Year-end tax planning ideas for your small business Image
Year-end tax planning ideas for your small business

Before you know it, the end of 2022 will be near. Here are some year-end moves to consider that may help your small b...

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9/6/2022
Inflation Reduction Act provisions of interest to small businesses Image
Inflation Reduction Act provisions of interest to small businesses

The new Inflation Reduction Act provides small businesses with an incentive to increase their investments in research...

Read More »
9/2/2022
New law puts “book income” in the crosshairs Image
New law puts “book income” in the crosshairs

Could the Inflation Reduction Act have unintended financial reporting consequences? Many accounting professionals are...

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8/30/2022
Contingent liabilities: To report or not to report? Image
Contingent liabilities: To report or not to report?

Is your company being transparent about contingent liabilities? In today’s uncertain conditions, reporting cont...

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8/25/2022
Self-employed? Build a nest egg with a solo 401(k) plan Image
Self-employed? Build a nest egg with a solo 401(k) plan

If you run a one-person small business, you might be able to build a bigger retirement nest egg with a solo 401(k) pl...

Read More »
8/23/2022
How do taxes factor into an M&A transaction? Image
How do taxes factor into an M&A transaction?

Buying or selling a business may be the most critical transaction you ever make. If your business is considering merg...

Read More »
8/18/2022
Why an LLC might be the best choice of entity for your business Image
Why an LLC might be the best choice of entity for your business

A limited liability company can give you corporate-like protection from creditors while providing the benefits of tax...

Read More »
8/16/2022
Is your corporation eligible for the dividends-received deduction? Image
Is your corporation eligible for the dividends-received deduction?

The “dividends-received deduction” may take some of the bite out of a C corporation’s tax bill. Her...

Read More »
8/11/2022
Is your business required to report employee health coverage? Image
Is your business required to report employee health coverage?

Form 1095-C is filed with the IRS and provided to employees of “applicable large employers” who are full-...

Read More »
8/9/2022
How to Treat Business Website Costs for Tax Purposes Image
How to Treat Business Website Costs for Tax Purposes

How do you handle the costs involved in developing your business website for tax purposes? Here are the general rules...

Read More »
8/4/2022
Tax Issues to Assess When Converting From a C Corporation to an S Corporation Image
Tax Issues to Assess When Converting From a C Corporation to an S Corporation

If your business operates as a C corporation, you may save tax by becoming an S corporation. Here’s a rundown o...

Read More »
8/2/2022
Businesses: Act now to make the most out of bonus depreciation Image
Businesses: Act now to make the most out of bonus depreciation

If your business plans to purchase bonus depreciation qualifying property, take action soon to realize a valuable tax...

Read More »
7/28/2022
Three Tax Breaks for Small Businesses Image
Three Tax Breaks for Small Businesses

You don’t have to be a large business to benefit from tax breaks. Here are 3 ways that eligible small businesse...

Read More »
7/26/2022
Important Considerations When Engaging in a Like-Kind Exchange Image
Important Considerations When Engaging in a Like-Kind Exchange

Interested in a “like-kind” exchange of real property? Here are the basic rules.

Read More »
7/22/2022
Standard Business Mileage Rate Will Increase for the Second Half of 2022 Image
Standard Business Mileage Rate Will Increase for the Second Half of 2022

Because of the soaring price of gasoline, the IRS has increased the standard mileage rate for qualified business driv...

Read More »
6/15/2022
How to Forecast Smarter Image
How to Forecast Smarter

Start the year off right with reliable financial forecasts. Here are five questions to guide you through the process....

Read More »
1/18/2022
KPIs: What Are They, and Which Ones Count? Image
KPIs: What Are They, and Which Ones Count?

What are the keys to your company’s success? Read on to help unlock the answer.

Read More »
1/5/2022
Providing a Company Car? Here’s How Taxes are Handled Image
Providing a Company Car? Here’s How Taxes are Handled

Providing a company car to executives at your business is a prized perk. Here are the basic tax rules involved in thi...

The Tax Implications of Owning a Corporate Aircraft Image
The Tax Implications of Owning a Corporate Aircraft

Ever wonder how much of a tax break you’d get if you bought a private plane for your business? Here are the bas...

Read More »
12/9/2021
Small Businesses: There Still May Be Time to Cut Your 2021 Taxes Image
Small Businesses: There Still May Be Time to Cut Your 2021 Taxes

There may be ways your small business can save on 2021 taxes. But you must act before Dec. 31.

Read More »
12/3/2021
U.S. House Passes the Build Back Better Act Image
U.S. House Passes the Build Back Better Act

The Build Back Better Act is one step closer to becoming law as it passes the U.S. House.

Read More »
11/29/2021
Potential Tax Law Changes Hang Over Year-End Tax Planning for Individuals Image
Potential Tax Law Changes Hang Over Year-End Tax Planning for Individuals

If you’re concerned about your 2021 tax liability, consider these year-end tax planning strategies.

Read More »
11/10/2021
The Infrastructure Investment and Jobs Act Includes Tax-Related Provisions You’ll Want to Know About Image
The Infrastructure Investment and Jobs Act Includes Tax-Related Provisions You’ll Want to Know About

Congress has passed the Infrastructure Investment and Jobs Act. Find out what tax-related provisions have been built ...

Read More »
11/10/2021
Businesses Must Navigate Year-End Tax Planning With New Tax Laws Potentially on the Horizon Image
Businesses Must Navigate Year-End Tax Planning With New Tax Laws Potentially on the Horizon

Allocating year-end tax planning time now can prove beneficial come tax filing time next year.

Read More »
11/10/2021
Would You Like to Establish a Health Savings Account for Your Small Business? Image
Would You Like to Establish a Health Savings Account for Your Small Business?

Looking for a flexible, tax-advantaged option for providing health care coverage at your business? Consider a Health ...

Read More »
11/3/2021
The Social Security Wage Base Is Increasing in 2022 Image
The Social Security Wage Base Is Increasing in 2022

Business owners and their employees don’t have to pay Social Security tax on all their wages. Amounts above a c...

Read More »
10/28/2021
What’s the Point of Asset Protection? Image
What’s the Point of Asset Protection?

As a successful business owner, it's essential to know the reason behind why you're protecting your business and...

Read More »
9/22/2021
Want to Find Out What IRS Auditors Know About Your Business Industry? Image
Want to Find Out What IRS Auditors Know About Your Business Industry?

If you own or operate a business, you may not know that the IRS has “Audit Techniques Guides” for certain...

Read More »
9/2/2021
Getting a Divorce? Be Aware of Tax Implications if You Own a Business Image
Getting a Divorce? Be Aware of Tax Implications if You Own a Business

Divorce may have tax implications for the spouses involved, especially if one or both of them owns a business. Here a...

Read More »
8/26/2021
Possible Tax Consequences of Guaranteeing a Loan to Your Corporation Image
Possible Tax Consequences of Guaranteeing a Loan to Your Corporation

If your corporation defaults on a loan that you guarantee, you don’t want to be blindsided by the tax implicati...

Read More »
8/19/2021
Large Cash Transactions With Your Business Must Be Reported to the IRS Image
Large Cash Transactions With Your Business Must Be Reported to the IRS

Certain types of businesses receive large payments of cash. They may be required to report the transactions to the IR...

Read More »
8/12/2021
PPP Forgiveness and Repayment: What Businesses Need to Know Now Image
PPP Forgiveness and Repayment: What Businesses Need to Know Now

If you received a PPP loan, important forgiveness deadlines are approaching. Are you ready?

Read More »
7/23/2021
Getting a New Business off the Ground: How Start-up Expenses Are Handled on Your Tax Return Image
Getting a New Business off the Ground: How Start-up Expenses Are Handled on Your Tax Return

Business applications have increased over the past year, according to the U.S. Census Bureau. If you’re launchi...

Read More »
7/22/2021
CMMC Webinar FAQ Image
CMMC Webinar FAQ

We recently held a webinar in partnership with Keiter, CPAs in reference to Understanding and Preparing for the CMMC....

Read More »
7/20/2021
Understand and Preparing for the CMMC Slides Image
Understand and Preparing for the CMMC Slides

Slides from webinar in partnership with Keiter CPAs regarding Understanding and Preparing for the CMMC.

Read More »
7/20/2021
Who In Small Business Can Be Hit With The “Trust Fund Recovery Penalty?” Image
Who In Small Business Can Be Hit With The “Trust Fund Recovery Penalty?”

The IRS will impose the “Trust Fund Recovery Penalty” on certain business owners and managers personally ...

Read More »
7/15/2021
How Agility Can Affect Your Company’s Future Image
How Agility Can Affect Your Company’s Future

Let's take a look at just why agility is such an important skill for business owners to acquire and apply to their bu...

Read More »
7/7/2021
Eligible Businesses: Claim the Employee Retention Tax Credit Image
Eligible Businesses: Claim the Employee Retention Tax Credit

If your business hasn’t already claimed the Employee Retention Tax Credit, you should check out if you’re...

Read More »
7/1/2021
Here Come the Child Tax Credit Payments: What You Need to Know Image
Here Come the Child Tax Credit Payments: What You Need to Know

If you have children age 17 or under, it’s critical to understand the recent changes made to the child tax cred...

Read More »
6/30/2021
Important Changes to the Child Tax Credit Image
Important Changes to the Child Tax Credit

As part of the American Rescue Plan Act enacted in March, significant changes were made to the child tax credit that ...

Read More »
6/25/2021
Traveling For Business Again? What Can You Deduct? Image
Traveling For Business Again? What Can You Deduct?

On the road again for business? Here’s a rundown of costs you can deduct for business travel.

Read More »
6/24/2021
2021 Q3 Tax Calendar: Key Deadlines for Businesses and Other Employers Image
2021 Q3 Tax Calendar: Key Deadlines for Businesses and Other Employers

Although you might want to enjoy the lazy days of summer, employers and businesses should be careful not to miss thes...

Read More »
6/17/2021
Retaining Key Employees: One Size Doesn’t Fit All Image
Retaining Key Employees: One Size Doesn’t Fit All

A company's key employees play an essential role in maintaining business success. So, what can you do in order to kee...

Read More »
6/16/2021
Hiring Your Minor Children This Summer? Reap Tax and Nontax Benefits Image
Hiring Your Minor Children This Summer? Reap Tax and Nontax Benefits

Are you a business owner with teenage or college-age children who constantly need cash? You may want to hire them to ...

Read More »
6/3/2021
Guiding Your Wealth to Where You Want It to Go Image
Guiding Your Wealth to Where You Want It to Go

You may know where you want your money to go when you die, but let's take a look at how to plan and strategize your w...

Read More »
6/2/2021
The IRS has Announced 2022 Amounts for Health Savings Accounts Image
The IRS has Announced 2022 Amounts for Health Savings Accounts

Businesses that provide Health Savings Accounts to employees know they have a variety of benefits. Here are a few of ...

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5/27/2021
5 Ways to Address Deal Killers Before They Kill Your Deal Image
5 Ways to Address Deal Killers Before They Kill Your Deal

When setting your business up for success, it's important to be able to identify deals that may hurt your company's f...

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5/25/2021
The Biden Administration Proposes Far-Reaching Tax Overhaul Image
The Biden Administration Proposes Far-Reaching Tax Overhaul

If you’re trying to keep straight all of the tax proposals the Biden administration has recently announced, her...

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5/7/2021
Providing Education Assistance to Employees? Follow These Rules Image
Providing Education Assistance to Employees? Follow These Rules

Some employers offer educational assistance plans as a recruitment and retention tool. Here are the rules to help ens...

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5/6/2021
Updated Guidance for Impairment Testing: When to Consider Triggering Events Image
Updated Guidance for Impairment Testing: When to Consider Triggering Events

Many small entities suffered major losses during the pandemic. Here’s welcome relief from the FASB for private ...

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5/4/2021
There’s More to Business Than Money: Values-Based Goals Image
There’s More to Business Than Money: Values-Based Goals

Money is only one part of what makes a business owner successful. Value-based goals are just as vital to running a bu...

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4/7/2021
PPP Application Deadline Extended Image
PPP Application Deadline Extended

Eligible businesses affected by the COVID-19 pandemic now have until May 31 to apply for a PPP loan. Here’s the...

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4/1/2021
Extended tax filing deadline provides relief to individual taxpayers and the IRS Image
Extended tax filing deadline provides relief to individual taxpayers and the IRS

The IRS has announced that the federal income tax filing deadline for individuals for the 2020 tax year is extended f...

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3/24/2021
Making the most of the Employee Retention Credit Image
Making the most of the Employee Retention Credit

The Employee Retention Credit (ERC), which was created to encourage employers to keep their workforces intact during ...

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3/19/2021
The American Rescue Plan Act: Additional Information Image
The American Rescue Plan Act: Additional Information

On March 11, 2021, President Biden signed into law the American Rescue Plan Act (ARPA). The...

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3/17/2021
The Magic Behind Writing Your Plans Down Image
The Magic Behind Writing Your Plans Down

Business owners put years, if not decades, into planning the success of their business. However, rarely do they have ...

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3/17/2021
Assessing and Mitigating Key Person Risks Image
Assessing and Mitigating Key Person Risks

Is the success of your business tied to certain “key” people? Many startups, professional service firms a...

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3/16/2021
If You Run a Business From Home, You Could Qualify for Home Office Deductions Image
If You Run a Business From Home, You Could Qualify for Home Office Deductions

Business owners may be able to save tax with home office deductions. If you’re working from home (like lots of ...

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3/11/2021
The American Rescue Plan Act was signed: What's in it for you? Image
The American Rescue Plan Act was signed: What's in it for you?

Congress has passed the latest legislation aimed at providing economic and other relief from the COVID-19 pandemic th...

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3/11/2021
New Law Provides Option to Delay Implementing the Updated CECL Standard Image
New Law Provides Option to Delay Implementing the Updated CECL Standard

The current expected credit loss (CECL) standard has been delayed again. Under the recently enacted COVID-19 economic...

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3/9/2021
What Are the Tax Implications of Buying or Selling a Business? Image
What Are the Tax Implications of Buying or Selling a Business?

Buying or selling a business may be the largest transaction you’ll ever make. Pay attention to taxes. After a d...

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3/4/2021
Walk Before You Run: Phased Planning Image
Walk Before You Run: Phased Planning

It's important for business owners to plan for a successful future without their business. Here's the story...

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3/3/2021
Many Tax Amounts Affecting Businesses Have Increased for 2021 Image
Many Tax Amounts Affecting Businesses Have Increased for 2021

How much do your employees have to earn in 2021 before they can stop paying Social Security tax? How much can they co...

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2/25/2021
Red Flags of Deadbeat Debtors Image
Red Flags of Deadbeat Debtors

Do you know the warning signs of delinquent payments? Being proactive helps protect your cash flow and profits.

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2/24/2021
The Cents-per-Mile Rate for Business Miles Decreases Again for 2021 Image
The Cents-per-Mile Rate for Business Miles Decreases Again for 2021

The price of gas is down from a year ago. How does this affect the amount your business can deduct for business drivi...

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2/18/2021
How well do your nonprofit’s development and accounting departments communicate? Image
How well do your nonprofit’s development and accounting departments communicate?

Whether your nonprofit has only a handful, or hundreds, of staffers, communication can easily break down. Here’...

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2/17/2021
The New Form 1099-NEC and the Revised 1099-MISC Are Due to Recipients Soon Image
The New Form 1099-NEC and the Revised 1099-MISC Are Due to Recipients Soon

A filing requirement is coming up if your business pays independent contractors or makes other payments.

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2/11/2021
Year-End SWOT Analysis Can Uncover Risks Image
Year-End SWOT Analysis Can Uncover Risks

A SWOT analysis can a powerful management tool, especially in today’s volatile marketplace.

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12/23/2020
PPP Update and New Stimulus Measures Image
PPP Update and New Stimulus Measures

On Monday, December 21, 2020, The U.S. House of Representatives and the Senate passed the Consolidated Appropriations...

Small Businesses: Cash in On Depreciation Tax Savers Image
Small Businesses: Cash in On Depreciation Tax Savers

Before Dec. 31, your business should buy any needed business assets and place them in service. That way, you can take...

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12/15/2020
Avoiding Conflicts of Interest with Auditors Image
Avoiding Conflicts of Interest with Auditors

Before audit season starts, consider how a conflict of interest could negatively impact your financial statements.

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11/25/2020
Internal Audits Still Matter Image
Internal Audits Still Matter

Internal auditors can provide assurance that a nonprofit’s internal controls are effective at minimizing risk, ...

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11/9/2020
Gifts in Kind: New Reporting Requirements for Nonprofits Image
Gifts in Kind: New Reporting Requirements for Nonprofits

Unscrupulous nonprofits sometimes use “gifts in kind” to mislead donors and boost their ratings. New acco...

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10/28/2020
Candid Communication Can Help Ease Nonprofit Staffers’ Anxiety Image
Candid Communication Can Help Ease Nonprofit Staffers’ Anxiety

Even if your nonprofit is weathering 2020’s multiple storms, your staffers may be anxious. Make sure you’...

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10/27/2020
The Easiest Way to Survive an IRS Audit is to Get Ready in Advance Image
The Easiest Way to Survive an IRS Audit is to Get Ready in Advance

The more you know about IRS audits, the better you can fare when that letter arrives in the mail. 

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10/22/2020
Business Website Costs for Tax Purposes Image
Business Website Costs for Tax Purposes

Your business likely has a website. How do you treat the costs involved in developing your site for tax purposes? Her...

How to Report COVID-19-Related Debt Restructuring Image
How to Report COVID-19-Related Debt Restructuring

Attention, lenders! COVID-19-related loan modifications may be exempt from the complex accounting rules for troubled ...

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9/29/2020
What To Do When The Audit Ends Image
What To Do When The Audit Ends

Just because your nonprofit’s financial audit has ended doesn’t mean your work is done. Learn what's next...

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9/28/2020
2020 Q4 Tax Calendar: Key Deadlines for Businesses and Other Employers Image
2020 Q4 Tax Calendar: Key Deadlines for Businesses and Other Employers

With fall's arrival, it’s time for businesses to start thinking about fourth quarter tax deadlines.

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9/23/2020
Reporting Discontinued Operations Today Image
Reporting Discontinued Operations Today

Many businesses have undergone strategic shifts during the pandemic. Here’s how to determine whether that chang...

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9/15/2020
5 Key Points About Bonus Depreciation Image
5 Key Points About Bonus Depreciation

Depreciating assets involves a complex area of tax law; here’s a rundown:

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9/9/2020
Employee Social Security Payroll Tax Deferrals Begin Image
Employee Social Security Payroll Tax Deferrals Begin

Employee Social Security Payroll Tax Deferrals Begin Amid Continued Questions

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9/2/2020
Levels of Assurance: Choosing the Right Option for Your Business Today Image
Levels of Assurance: Choosing the Right Option for Your Business Today

Here are some key factors to consider when evaluating your company’s current level of assurance.

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8/31/2020
Forecasting Financial Results for a Start-Up Business Image
Forecasting Financial Results for a Start-Up Business

Today’s markets are unpredictable, but changing conditions can open new business opportunities.

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8/13/2020
File Cash Transaction Reports for Your Business - On Paper or Electronically Image
File Cash Transaction Reports for Your Business - On Paper or Electronically

If your business receives large cash or cash equivalent payments, you may have to report them to the IRS. 

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8/12/2020
Financial Reporting for Nonprofits That Have Teamed Up Image
Financial Reporting for Nonprofits That Have Teamed Up

Nonprofits: here’s what you need to know if you’ve recently joined forces with another entity.

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8/11/2020
WEC In-House Recruiting Event for 2021 Internships Image
WEC In-House Recruiting Event for 2021 Internships

If you are interested in attending and would like to be considered for a 2021 internship opportunity, please register...

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8/6/2020
Rethinking Cash Flow Image
Rethinking Cash Flow

Since you can’t escape the impact of cash flow, you might as well take it head on, right?

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8/6/2020
Reporting CAMs in the COVID-19 Era Image
Reporting CAMs in the COVID-19 Era

How the pandemic could add a new layer of complexity to the new-and-improved auditor’s report. 

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8/3/2020
External Audits Offer Many Benefits to Nonprofits Image
External Audits Offer Many Benefits to Nonprofits

Even if your nonprofit isn’t required to have an external audit, there are many good reasons to obtain this add...

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7/20/2020
Government Contracting Training Event: Accounting and The CARES Act Image
Government Contracting Training Event: Accounting and The CARES Act

Government Contractor Training Event: Accounting and The CARES Act

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7/9/2020
Where Transferable Value Comes From

One of the most important elements of a successful business transition is transferable value. No matter what an owner...

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6/18/2020
Challenging Times - Accounting and The CARES Act Image
Challenging Times - Accounting and The CARES Act

As advisors, we are fielding a flood of questions from business owners, CFOs and controllers on how to account for be...

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6/8/2020
Realistic Timelines

Global economic disruption uniquely affects each business.

Growing Business Value When Times are Tough

Growing Business Value When Times are Tough

Importance of Business Intelligence

This article does a nice job of illustrating the importance of business intelligence, i.e., using data to drive decis...

Innovations in Technology

We really appreciate Gartner’s view that organizations must understand the business and human impact first, the...

Blockchain Technology - The Latest

Check out Andre Sterley's Video Newsletter.

CARES Act Relief for Government Contractors Image
CARES Act Relief for Government Contractors

The Coronavirus Aid, Relief, and Economic Security Act (CARES) was signed into law on March 27, 2020 to provide econo...

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3/31/2020
COVID-19 Contract Claims and Delays Image
COVID-19 Contract Claims and Delays

Contractors should prepare to navigate through potential contract claims

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3/30/2020
CARES Act: Funding and Employment Retention Provisions Image
CARES Act: Funding and Employment Retention Provisions

CARES Act - Funding and Employment Retention Provisions

Consequences of COVID-19 - Financial Reporting Considerations Image
Consequences of COVID-19 - Financial Reporting Considerations

The AICPA released financial reporting considerations related to COVID-19.

CARES Act: Tax Provisions for Businesses Image
CARES Act: Tax Provisions for Businesses

CARES Act - Tax Provisions for Businesses

Coronavirus Tax Relief Links Image
Coronavirus Tax Relief Links

Please refer to the link for IRS updates related to the Coronaviru...

Preparing Your Company for Possibly Disruption Due to the Coronavirus Image
Preparing Your Company for Possibly Disruption Due to the Coronavirus

There is a lot of information, and misinformation, being shared about Covid-19. With the continued spread of the viru...

Get Your Final Indirect Cost Proposals Right for Year-End Reporting Image
Get Your Final Indirect Cost Proposals Right for Year-End Reporting

Final Indirect Cost Proposals and Year-End Reporting

As we start a new year, it’s time to “close ...

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1/28/2020
The Tax Implications of a Company Car

What are the benefits of using the company car?

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11/14/2019
Prepare For New Lease Accounting

New accounting rules for reporting leases finally goes into effect in 2019 for public companies and 2020 for nonpubli...

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9/25/2018
Understanding The DCAA Audit Process Image
Understanding The DCAA Audit Process

As a contractor doing business with the federal government it is important to be familiar with the ever changing regu...

Three Steps Fix ‘Profit Fade’

Many construction companies suffer from a disabling condition called “profit fade.” It occurs when a cont...