For 2025, inflation-adjusted changes were made to certain business tax provisions. Here’s how much your employe...
What triggers an IRS audit and how can you prepare if your business is selected?
Form 1095-C is filed with the IRS and given to full-time employees of “applicable large employers.” Which...
Mark your calendar: It’s time for businesses to start thinking about the fourth quarter 2024 tax filing deadlin...
We’ll be saying goodbye to 2024 in no time. Here are some year-end moves to consider that may help your small b...
Choosing between the cash method of accounting and the accrual method for tax purposes can impact your tax situation....
The IRS has announced several tax-compliance initiatives that focus on businesses. Here’s a look at three of th...
A financial statement audit provides a detailed, reliable snapshot of a business’s entire operations. But somet...
Summer is here and tax deadlines are probably the last thing on your mind. But there are some important third-quarter...
An important deadline for quarterly federal estimated tax payments is coming up on June 17. Here are the methods for ...
Time flies when you’re busy running a business. It’s important to pause at midyear and assess interim fin...
There are several factors to consider when converting from a C corporation to an S corporation. Here are four of the ...
A meticulous approach to maintaining business records can help protect your tax deductions and make an IRS audit much...
Spring is here, along with a bunch of tax-related deadlines. Here are some upcoming dates for the second quarter of 2...
There’s more than one way for businesses to claim depreciation tax deductions. By combining them, you can get o...
Timeliness counts in financial reporting. Here’s why it pays to issue your company’s financial statements...
Businesses that file 10 or more information returns must now file them electronically.
Many businesses have a choice of using cash or accrual accounting for tax purposes. If you’re one of them, whic...
Many new ventures start out as sole proprietorships. Here are nine considerations if you’re operating a busines...
There are two strong incentives for eligible small businesses to operate as a special type of entity. Learn how a Qua...
In the first quarter of 2024, businesses face several tax-related deadlines. Here are some key due dates and obligati...
The real estate market has been tough recently. But there are still large profits being made on some business propert...
Spread some holiday cheer by giving gifts to employees or customers … or throwing a festive party. But make su...
The holiday whirlwind has begun. There may be ways your small business can save on 2023 taxes. But you must act fast....
Complex calculations are involved in claiming depreciation deductions for the business use of a passenger automobile....
IRS examiners use publications called Audit Techniques Guides to prepare for audits in certain industries and those w...
With fraudulent Employee Retention Tax Credit claims on the rise, the IRS has suspended claim processing through year...
You want to be able to deduct business expenses on your tax return. But in order to be deductible, expenses must be o...
The leaves are beginning to turn in some areas so it’s time for businesses to start thinking about year-end tax...
The SECURE 2.0 Act’s new retirement catch-up contribution rules caused problems and confusion for employers and...
Beware of fraudsters hyping the Employee Retention Tax Credit! Not all businesses are eligible despite the claims you...
Divorce can be financially complicated, especially if one or both of the spouses owns a business.
Next year, a new provision kicks in that may allow businesses to help employees in financial emergencies through thei...
Some businesses receive large amounts of cash. Depending on the amounts, they may be required to report the transacti...
You can operate your small business in several ways. For example, your entity can be a sole proprietorship, an S corp...
There may be a way to reduce a large tax bill if you own appreciated land that you want to subdivide and develop for ...
Converting an unincorporated business into an S corporation may help you cut your self-employment tax bill. Here's ho...
Launching a business? Here’s how start-up expenses are handled on a federal tax return.
If you do business with virtual currency, it’s time to read up on related tax requirements. The IRS is paying c...
You might want to enjoy the lazy days of summer, but employers and businesses need to make sure not to miss these thi...
If your business has a choice to deduct real estate expenses or depreciate them over several years, the decision may ...
As costs rise, investors and lenders are eyeing profits closely. Here’s the latest development on the FASB&rsqu...
Keeping careful business records for meal and vehicle expenses can safeguard your tax deductions. Here are some DOs a...
Do you know the three keys to lowering your company’s working capital requirements?
Does your business provide Health Savings Accounts (HSAs) to employees? The IRS has announced the inflation-adjusted ...
These days, many businesses are filling vacant positions and saving money by using independent contractors. Here are ...
You may have a net operating loss for your business if your deductions for the year are more than your income for the...
Non-GAAP metrics can sometimes mislead investors! That’s why some stakeholders want a formal definition of EBIT...
C corporation owners: To keep your compensation tax deductible, you need to ensure it’s “reasonable.&rdqu...
The federal tax code encourages businesses to invest in historic buildings with a tax credit. Here are the rules.
Financial reporting is more than an exercise in compliance. Proactive owners and managers view their income statement...
Has the start of spring piqued your interest in green business practices? Eco-friendly initiatives can be good for th...
There are several choices of entities for a new business venture. What about an S corporation? Here are the advantage...
Does this year’s April 18 filing deadline apply to your business? What additional tax deadlines are there for b...
What types of information and procedures do auditors use to verify account balances and transactions? Anticipating do...
A tax law that passed in 2017 makes a major change to Section 174 research and experimental (R&E) expenses. Here&...
How does a business know if advertising and marketing expenses are “ordinary and necessary” so they can b...
With Republicans now in control of the U.S. House of Representatives, what’s the fate of prospective tax legisl...
Is your business ready to implement these upcoming accounting rule changes?
If you’re a business owner who works from home, you may be able to save tax with home office deductions. Here a...
Pay attention to taxes if you’re buying or selling a business. After a transaction is complete, it may be too l...
Entrepreneurs often invest blood, sweat and tears to start new businesses. But few are experts in financial reporting...
For 2023, high inflation has increased the adjustments the IRS makes annually to certain tax provisions. Here’s...
Reference this tax calendar to learn the 2023 deadlines for various tax-related forms and payments.
January 31 is an important deadline for businesses with hired workers. Here’s what’s due.
The price of gas is lower than it was a year ago. How does this affect the amount your business can deduct for busine...
You’ve probably heard about the new SECURE 2.0 law. Here’s what it might mean for your business.
Has your accounting method kept up with your financial needs? It periodically makes sense to evaluate how you’r...
Have you heard ads on TV telling businesses how they can claim a huge Employee Retention Credit? It might be possible...
Converting from C corporation to S corporation status could trigger unexpected tax if you use the last in, first out ...
Businesses face a variety of tax-related deadlines in the first quarter of 2023. Here are some of them.
Owners of pass-through businesses may be able to save tax with the valuable QBI deduction by taking certain steps at ...
If you’re starting a new business, you may wonder if you should operate as a C corporation, an S corporation or...
Any transaction your business engages in involving intangible assets and their related costs should be analyzed to de...
If your business is closing its doors, taxes may be the last thing on your mind. But there are a number of tax obliga...
Are you interested in reducing your 2022 tax liability? There’s still time to take these year-end tax planning ...
Do you have a Health Savings Account at your business? Or are you interested in establishing one? Here are the contri...
The tax-advantaged retirement plan contribution amounts will be much higher next year than they’ve been in rece...
Can you benefit from the Inflation Reduction Act’s expansion of two tax incentives for energy-efficient constru...
Your business may provide low or no-cost tax-free fringe benefits to employees. Here are the details of these benefit...
New lease accounting rules go into effect this year for private companies and nonprofits. Related-party leases contin...
Getting contacted by the IRS and told your tax return is being audited may cause business owners to panic. But you'll...
The Inflation Reduction Act expands the R&D payroll tax credit for eligible small businesses for tax years beginn...
Many small businesses are in need of new employees and may get creative in their hiring. The Work Opportunity Tax Cre...
It’s time for businesses to start thinking about year-end tax strategies. It’s also a good time to think ...
The IRS is providing broad-based penalty relief to most taxpayers who filed certain 2019 and/or 2020 tax returns late...
Separating the ownership of a business’s real estate from the business isn’t always advisable. But it mig...
A recent survey of audit partners found that 40% were uncertain about the outlook for their primary industries. In li...
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...
The new Inflation Reduction Act provides small businesses with an incentive to increase their investments in research...
Could the Inflation Reduction Act have unintended financial reporting consequences? Many accounting professionals are...
Is your company being transparent about contingent liabilities? In today’s uncertain conditions, reporting cont...
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...
Buying or selling a business may be the most critical transaction you ever make. If your business is considering merg...
A limited liability company can give you corporate-like protection from creditors while providing the benefits of tax...
The “dividends-received deduction” may take some of the bite out of a C corporation’s tax bill. Her...
Form 1095-C is filed with the IRS and provided to employees of “applicable large employers” who are full-...
How do you handle the costs involved in developing your business website for tax purposes? Here are the general rules...
If your business operates as a C corporation, you may save tax by becoming an S corporation. Here’s a rundown o...
If your business plans to purchase bonus depreciation qualifying property, take action soon to realize a valuable tax...
You don’t have to be a large business to benefit from tax breaks. Here are 3 ways that eligible small businesse...
Interested in a “like-kind” exchange of real property? Here are the basic rules.
Because of the soaring price of gasoline, the IRS has increased the standard mileage rate for qualified business driv...
Start the year off right with reliable financial forecasts. Here are five questions to guide you through the process....
What are the keys to your company’s success? Read on to help unlock the answer.
Providing a company car to executives at your business is a prized perk. Here are the basic tax rules involved in thi...
Ever wonder how much of a tax break you’d get if you bought a private plane for your business? Here are the bas...
There may be ways your small business can save on 2021 taxes. But you must act before Dec. 31.
The Build Back Better Act is one step closer to becoming law as it passes the U.S. House.
If you’re concerned about your 2021 tax liability, consider these year-end tax planning strategies.
Congress has passed the Infrastructure Investment and Jobs Act. Find out what tax-related provisions have been built ...
Allocating year-end tax planning time now can prove beneficial come tax filing time next year.
Looking for a flexible, tax-advantaged option for providing health care coverage at your business? Consider a Health ...
Business owners and their employees don’t have to pay Social Security tax on all their wages. Amounts above a c...
As a successful business owner, it's essential to know the reason behind why you're protecting your business and...
If you own or operate a business, you may not know that the IRS has “Audit Techniques Guides” for certain...
Divorce may have tax implications for the spouses involved, especially if one or both of them owns a business. Here a...
If your corporation defaults on a loan that you guarantee, you don’t want to be blindsided by the tax implicati...
Certain types of businesses receive large payments of cash. They may be required to report the transactions to the IR...
If you received a PPP loan, important forgiveness deadlines are approaching. Are you ready?
Business applications have increased over the past year, according to the U.S. Census Bureau. If you’re launchi...
We recently held a webinar in partnership with Keiter, CPAs in reference to Understanding and Preparing for the CMMC....
Slides from webinar in partnership with Keiter CPAs regarding Understanding and Preparing for the CMMC.
The IRS will impose the “Trust Fund Recovery Penalty” on certain business owners and managers personally ...
Let's take a look at just why agility is such an important skill for business owners to acquire and apply to their bu...
If your business hasn’t already claimed the Employee Retention Tax Credit, you should check out if you’re...
If you have children age 17 or under, it’s critical to understand the recent changes made to the child tax cred...
As part of the American Rescue Plan Act enacted in March, significant changes were made to the child tax credit that ...
On the road again for business? Here’s a rundown of costs you can deduct for business travel.
Although you might want to enjoy the lazy days of summer, employers and businesses should be careful not to miss thes...
A company's key employees play an essential role in maintaining business success. So, what can you do in order to kee...
Are you a business owner with teenage or college-age children who constantly need cash? You may want to hire them to ...
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...
Businesses that provide Health Savings Accounts to employees know they have a variety of benefits. Here are a few of ...
When setting your business up for success, it's important to be able to identify deals that may hurt your company's f...
If you’re trying to keep straight all of the tax proposals the Biden administration has recently announced, her...
Some employers offer educational assistance plans as a recruitment and retention tool. Here are the rules to help ens...
Many small entities suffered major losses during the pandemic. Here’s welcome relief from the FASB for private ...
Money is only one part of what makes a business owner successful. Value-based goals are just as vital to running a bu...
Eligible businesses affected by the COVID-19 pandemic now have until May 31 to apply for a PPP loan. Here’s the...
The IRS has announced that the federal income tax filing deadline for individuals for the 2020 tax year is extended f...
The Employee Retention Credit (ERC), which was created to encourage employers to keep their workforces intact during ...
Business owners put years, if not decades, into planning the success of their business. However, rarely do they have ...
On March 11, 2021, President Biden signed into law the American Rescue Plan Act (ARPA). The...
Is the success of your business tied to certain “key” people? Many startups, professional service firms a...
Business owners may be able to save tax with home office deductions. If you’re working from home (like lots of ...
Congress has passed the latest legislation aimed at providing economic and other relief from the COVID-19 pandemic th...
The current expected credit loss (CECL) standard has been delayed again. Under the recently enacted COVID-19 economic...
Buying or selling a business may be the largest transaction you’ll ever make. Pay attention to taxes. After a d...
It's important for business owners to plan for a successful future without their business. Here's the story...
How much do your employees have to earn in 2021 before they can stop paying Social Security tax? How much can they co...
Do you know the warning signs of delinquent payments? Being proactive helps protect your cash flow and profits.
The price of gas is down from a year ago. How does this affect the amount your business can deduct for business drivi...
Whether your nonprofit has only a handful, or hundreds, of staffers, communication can easily break down. Here’...
A filing requirement is coming up if your business pays independent contractors or makes other payments.
A SWOT analysis can a powerful management tool, especially in today’s volatile marketplace.
On Monday, December 21, 2020, The U.S. House of Representatives and the Senate passed the Consolidated Appropriations...
Before Dec. 31, your business should buy any needed business assets and place them in service. That way, you can take...
Before audit season starts, consider how a conflict of interest could negatively impact your financial statements.
Internal auditors can provide assurance that a nonprofit’s internal controls are effective at minimizing risk, ...
Unscrupulous nonprofits sometimes use “gifts in kind” to mislead donors and boost their ratings. New acco...
Even if your nonprofit is weathering 2020’s multiple storms, your staffers may be anxious. Make sure you’...
The more you know about IRS audits, the better you can fare when that letter arrives in the mail.
Your business likely has a website. How do you treat the costs involved in developing your site for tax purposes? Her...
Attention, lenders! COVID-19-related loan modifications may be exempt from the complex accounting rules for troubled ...
Just because your nonprofit’s financial audit has ended doesn’t mean your work is done. Learn what's next...
With fall's arrival, it’s time for businesses to start thinking about fourth quarter tax deadlines.
Many businesses have undergone strategic shifts during the pandemic. Here’s how to determine whether that chang...
Depreciating assets involves a complex area of tax law; here’s a rundown:
Employee Social Security Payroll Tax Deferrals Begin Amid Continued Questions
Here are some key factors to consider when evaluating your company’s current level of assurance.
Today’s markets are unpredictable, but changing conditions can open new business opportunities.
If your business receives large cash or cash equivalent payments, you may have to report them to the IRS.
Nonprofits: here’s what you need to know if you’ve recently joined forces with another entity.
If you are interested in attending and would like to be considered for a 2021 internship opportunity, please register...
Since you can’t escape the impact of cash flow, you might as well take it head on, right?
How the pandemic could add a new layer of complexity to the new-and-improved auditor’s report.
Even if your nonprofit isn’t required to have an external audit, there are many good reasons to obtain this add...
Government Contractor Training Event: Accounting and The CARES Act
One of the most important elements of a successful business transition is transferable value. No matter what an owner...
As advisors, we are fielding a flood of questions from business owners, CFOs and controllers on how to account for be...
Global economic disruption uniquely affects each business.
Growing Business Value When Times are Tough
This article does a nice job of illustrating the importance of business intelligence, i.e., using data to drive decis...
We really appreciate Gartner’s view that organizations must understand the business and human impact first, the...
Check out Andre Sterley's Video Newsletter.
The Coronavirus Aid, Relief, and Economic Security Act (CARES) was signed into law on March 27, 2020 to provide econo...
CARES Act - Funding and Employment Retention Provisions
Contractors should prepare to navigate through potential contract claims
The AICPA released financial reporting considerations related to COVID-19.
CARES Act - Tax Provisions for Businesses
Please refer to the link for IRS updates related to the Coronaviru...
There is a lot of information, and misinformation, being shared about Covid-19. With the continued spread of the viru...
Final Indirect Cost Proposals and Year-End Reporting
As we start a new year, it’s time to “close ...
What are the benefits of using the company car?
New accounting rules for reporting leases finally goes into effect in 2019 for public companies and 2020 for nonpubli...
As a contractor doing business with the federal government it is important to be familiar with the ever changing regu...
Many construction companies suffer from a disabling condition called “profit fade.” It occurs when a cont...