Does your small business need to file a BOI report? The deadline is approaching Image
Does your small business need to file a BOI report? The deadline is approaching

The deadline is fast approaching for many small businesses to file beneficial ownership information reports. Here&rsq...

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12/10/2024
Federal court rules against DOL’s “white collar” overtime rule Image
Federal court rules against DOL’s “white collar” overtime rule

A federal court has struck down a new rule regarding the salary threshold for determining whether employees are exemp...

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12/5/2024
The amount you and your employees can save for retirement is going up slightly in 2025 Image
The amount you and your employees can save for retirement is going up slightly in 2025

The tax-advantaged retirement plan contribution amounts will increase less next year than in previous years due to ea...

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11/15/2024
How your business can prepare for and respond to an IRS audit Image
How your business can prepare for and respond to an IRS audit

What triggers an IRS audit and how can you prepare if your business is selected?

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10/17/2024
Understanding your obligations: Does your business need to report employee health coverage? Image
Understanding your obligations: Does your business need to report employee health coverage?

Form 1095-C is filed with the IRS and given to full-time employees of “applicable large employers.” Which...

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10/1/2024
Federal court rejects FTC’s noncompete agreement ban Image
Federal court rejects FTC’s noncompete agreement ban

The Federal Trade Commission’s ban on noncompete agreements is now in limbo after a recent court ruling.

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9/19/2024
The possible tax landscape for businesses in the future Image
The possible tax landscape for businesses in the future

The tax landscape for businesses may change significantly in the near future. That’s because provisions in the ...

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8/6/2024
IRS ramps up compliance enforcement against certain businesses Image
IRS ramps up compliance enforcement against certain businesses

The IRS has announced several tax-compliance initiatives that focus on businesses. Here’s a look at three of th...

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7/30/2024
What are AUP engagements — and does your business need one? Image
What are AUP engagements — and does your business need one?

A financial statement audit provides a detailed, reliable snapshot of a business’s entire operations. But somet...

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7/25/2024
It’s almost time for a midyear checkup on your company’s financial health Image
It’s almost time for a midyear checkup on your company’s financial health

Time flies when you’re busy running a business. It’s important to pause at midyear and assess interim fin...

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5/30/2024
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
Best practices for M&A due diligence Image
Best practices for M&A due diligence

Are you contemplating a merger or acquisition in 2024? Comprehensive financial due diligence is the cornerstone of a ...

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2/20/2024
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
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
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
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
IRS provides transitional relief for RMDs and inherited IRAs Image
IRS provides transitional relief for RMDs and inherited IRAs

Some taxpayers can look forward to receiving transitional relief from the IRS related to the required beginning dates...

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8/10/2023
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
How to use QuickBooks as a fraud detection tool Image
How to use QuickBooks as a fraud detection tool

Many organizations use QuickBooks for everyday accounting tasks. But did you know that this software can also functio...

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5/11/2023
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
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
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
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
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
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
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
New accounting rules for supplier finance programs Image
New accounting rules for supplier finance programs

Newly issued rules on how to report supplier finance programs will provide critical information on the financial heal...

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11/17/2022
Computer software costs: How does your business deduct them? Image
Computer software costs: How does your business deduct them?

The tax treatment of computer software costs can be more complicated than you might think. Here are the basic rules.<...

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11/15/2022
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...

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10/13/2022
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
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...

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8/23/2022
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...

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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...

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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-...

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8/9/2022
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...

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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...

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7/28/2022
FY 2021 Incurred Cost Submissions Bring New Challenges

With 2021 in the rear-view mirror, it’s once again time for calendar year-end government contractors to start t...

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2/18/2022
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.

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1/5/2022
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...

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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.

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12/3/2021
Many Factors Are Involved When Choosing a Business Entity Image
Many Factors Are Involved When Choosing a Business Entity

There are many factors to consider when choosing a business entity. Here are just a few.

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11/11/2021
How Time Can Affect Planning Success Image
How Time Can Affect Planning Success

When it comes to business planning, time plays a large part in long-term success. 

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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...

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10/28/2021
Protecting Yourself Against Employee Risk Image
Protecting Yourself Against Employee Risk

Reducing employee risk plays a vital part in planning your business's future success and growth for the company....

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10/20/2021
Why Communication Is Essential to Successful Planning Image
Why Communication Is Essential to Successful Planning

Let's talk about the importance of communicating your business plans to those who can help you achieve them.

...

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10/6/2021
M&A Transactions: Be Careful When Reporting to the IRS Image
M&A Transactions: Be Careful When Reporting to the IRS

Have you bought or sold business assets in an M&A deal in 2021 or are in the process of a transaction? If so, you...

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9/30/2021
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...

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9/22/2021
Disasters and Your Taxes: What You Need to Know Image
Disasters and Your Taxes: What You Need to Know

Have you been affected by one of the many natural disasters that have occurred this year? Tax relief may be available...

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9/20/2021
Claiming a Theft Loss Deduction if Your Business Is the Victim of Embezzlement Image
Claiming a Theft Loss Deduction if Your Business Is the Victim of Embezzlement

If your business is victimized by theft, embezzlement or internal fraud, you may be able to claim a tax deduction for...

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9/10/2021
How Your Employees’ Motivations Can Affect Your Business Planning Image
How Your Employees’ Motivations Can Affect Your Business Planning

Creating incentives for key employees to support your business long-term can be a great benefit to planning the futur...

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9/8/2021
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...

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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...

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8/26/2021
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...

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8/12/2021
Connecting Your Personal Financial Plan and Business Continuity Plan Image
Connecting Your Personal Financial Plan and Business Continuity Plan

Most business owners have a personal financial plan, but let's talk about why connecting that with a business continu...

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8/4/2021
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?

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7/23/2021
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 ...

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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...

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7/7/2021
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...

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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 ...

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6/25/2021
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...

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6/16/2021
Recordkeeping DOs and DON’Ts for Business Meal and Vehicle Expenses Image
Recordkeeping DOs and DON’Ts for Business Meal and Vehicle Expenses

"Recordkeeping DOs and DON’Ts for Business Meal and Vehicle Expenses" | Keeping meticulous business record...

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6/10/2021
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 ...

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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...

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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
Help Ensure the IRS Doesn’t Reclassify Independent Contractors as Employees Image
Help Ensure the IRS Doesn’t Reclassify Independent Contractors as Employees

Employee or independent contractor? That’s the question businesses ask when they bring on certain workers. Here...

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5/13/2021
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
Claiming the Business Energy Credit for Using Alternative Energy Image
Claiming the Business Energy Credit for Using Alternative Energy

There’s a great deal of interest in alternative energy technologies today. If your business invests in certain ...

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4/29/2021
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
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 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
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
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
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
Don’t Make Decisions Without Data Analytics Image
Don’t Make Decisions Without Data Analytics

Data analytics can help your nonprofit validate trends, uncover root causes and improve transparency. But before you ...

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3/2/2021
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
Poor Planning, Big Problems: The Tale of Tom Poor Image
Poor Planning, Big Problems: The Tale of Tom Poor

Business owners put years of planning and preparation into making their businesses successful. However, have you...

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2/17/2021
ICFR Assessment and Attestation: Are You In Compliance with the Rules? Image
ICFR Assessment and Attestation: Are You In Compliance with the Rules?

How strong are your company’s internal controls? Public companies must answer this question annually, and priva...

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2/10/2021
PPP Loans Have Reopened: Let’s Review the Tax Consequences Image
PPP Loans Have Reopened: Let’s Review the Tax Consequences

Businesses that have been hit hard by the COVID-19 may be able to obtain help with PPP loans. Here are the basic rule...

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2/4/2021
PPP Borrowers No Longer Prohibited From Receiving Employee Retention Credits Image
PPP Borrowers No Longer Prohibited From Receiving Employee Retention Credits

One of the major provisions of the Consolidated Appropriation Act, 2021 has been the extension and modification of th...

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1/11/2021
Is a Family Transfer Right for Your Business? Image
Is a Family Transfer Right for Your Business?

There are many benefits, as well as challenges, to transferring the ownership of your business to someone in your fam...

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1/6/2021
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...

Keep Your Family Intact with Proper Estate Planning Image
Keep Your Family Intact with Proper Estate Planning

It can be difficult to consider what will happen to your business and your family if you die unexpectedly. This ...

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12/2/2020
New Business? It’s a Good Time to Start a Retirement Plan Image
New Business? It’s a Good Time to Start a Retirement Plan

Entrepreneurs: Don’t ignore saving for retirement. Here are the basics of tax-favored plans to help build your ...

Read More »
11/25/2020
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.

Read More »
11/25/2020
Smart Nonprofit Leaders Know How to Delegate Image
Smart Nonprofit Leaders Know How to Delegate

Good delegation is essential to running your nonprofit efficiently and cost-effectively. Here’s how to choose t...

Read More »
11/24/2020
Don't Let Your Key Employees Jump Ship Image
Don't Let Your Key Employees Jump Ship

Next-level management teams are the drivers behind building business value, but how can you and your advisors attract...

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11/18/2020
How Much Insurance Does Your Nonprofit Need to Mitigate Risk? Image
How Much Insurance Does Your Nonprofit Need to Mitigate Risk?

Insurance is the cornerstone of your risk management program. Fortunately, it can be affordable because most nonprofi...

Read More »
11/17/2020
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, ...

Read More »
11/9/2020
If You Don’t Uncover the Skeletons in Your Closet, Your Buyer Will Image
If You Don’t Uncover the Skeletons in Your Closet, Your Buyer Will

What is due diligence and why is it important when it comes to selling your business? Find out more...

Read More »
11/5/2020
Why Your Nonprofit Must Make Time For Accountability Image
Why Your Nonprofit Must Make Time For Accountability

Nonprofits are obligated to use resources to support their mission and benefit those they serve. Here’s why ins...

Read More »
11/3/2020
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...

Read More »
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’...

Read More »
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. 

Read More »
10/22/2020
Ingredients to Jumpstart the Planning Process Image
Ingredients to Jumpstart the Planning Process

When deciding to exit your business, you will need a proven process in place to ensure you have covered all the bases...

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10/21/2020
The Process of Selling Your Business Has Already Begun Image
The Process of Selling Your Business Has Already Begun

Every action you take during the life of your business has an impact on your departure down the road. Learn more ...

Read More »
10/7/2020
Collective Impact Initiatives: All for One and One for All Image
Collective Impact Initiatives: All for One and One for All

Before your nonprofit joins a collective impact initiative, review five typical requirements; it could mean the diffe...

Read More »
10/6/2020
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 ...

Read More »
9/29/2020
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.

Read More »
9/23/2020
On-Time Financial Reporting is Key in Times of Crisis Image
On-Time Financial Reporting is Key in Times of Crisis

Who cares if your financial statements are late? Lenders and investors, that's who. Procrastination may cause them to...

Read More »
9/22/2020
Private Foundations Need Strong Conflict-of-Interest Policies Image
Private Foundations Need Strong Conflict-of-Interest Policies

Even if your private foundation has good intentions, it may not be enough. You need a conflict-of-interest policy to ...

Read More »
9/21/2020
Employers Have Questions and Concerns About Deferring Employees' Social Security Taxes Image
Employers Have Questions and Concerns About Deferring Employees' Social Security Taxes

The IRS has issued guidance to implement the deferral of the employee share of SS tax, but employers still have quest...

Read More »
9/17/2020
Not All Strategies Are Created Equal Image
Not All Strategies Are Created Equal

Know the difference between Succession Planning, Exit Planning and Business Planning and how to best execute each.

Read More »
9/16/2020
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
Financial Dashboards Can Steer Your Nonprofit Towards Financial Success Image
Financial Dashboards Can Steer Your Nonprofit Towards Financial Success

Financial dashboards help nonprofit leaders make decisions by providing clear visualizations of key metrics. Here is ...

Read More »
9/10/2020
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:

Read More »
9/9/2020
Find Your Best Path to the Future Image
Find Your Best Path to the Future

Follow these steps to develop a clear picture of how to transition your business to the successor you choose. 

Read More »
9/3/2020
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.

Read More »
8/31/2020
3 Steps to
3 Steps to "Stress Test" Your Business

Under stress? Here’s how you can spot vulnerabilities and prevent your business from being blindsided in crisis...

Read More »
8/27/2020
Should Your Nonprofit Accept That New Grant? Image
Should Your Nonprofit Accept That New Grant?

Government or foundation grants can help your nonprofit, but they could hamstring your organization. Learn more....

Read More »
8/26/2020
The Possible Tax Consequences of PPP Loans Image
The Possible Tax Consequences of PPP Loans

If your business received a PPP Loan, you should be aware of the potential tax implications.

Read More »
8/20/2020
Funding a Sale to “Insiders” Image
Funding a Sale to “Insiders”

Business owners often consider “insiders” as viable successors. Can this be a fatal flaw in planning...

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8/19/2020
How to Codify Your Nonprofit's Ethics Image
How to Codify Your Nonprofit's Ethics

Nonprofits that enforce a "code of ethical conduct" are associated with 50% lower fraud losses. Get started here...

Read More »
8/18/2020
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.

Read More »
8/13/2020
PPP Update August 6, 2020: SBA Releases PPP Loan Forgiveness FAQs Image
PPP Update August 6, 2020: SBA Releases PPP Loan Forgiveness FAQs

The SBA just released a new round of FAQs targeted at providing guidance for PPP loan forgiveness. Find out more.

Read More »
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
Why Do Partners Sometimes Report More Income on Tax Returns than They Receive in Cash? Image
Why Do Partners Sometimes Report More Income on Tax Returns than They Receive in Cash?

In some cases, partners may be taxed on more partnership income than was distributed to them from their partnerships....

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7/30/2020
Drive Success with Dashboard Reports Image
Drive Success with Dashboard Reports

Is your business running like a fine-tuned machine? Dashboard reports can help you quickly recognize problems and eme...

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7/29/2020
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
Reporting Embedded Leases Image
Reporting Embedded Leases

Beware: Your supply and service contracts may contain hidden surprises known as “embedded” leases.

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7/15/2020
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
Steer Clear of the Trust Fund Recovery Penalty Image
Steer Clear of the Trust Fund Recovery Penalty

The “Trust Fund Recovery Penalty” is among the more dangerous tax penalties facing business owners and ma...

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7/6/2020
Haven’t filed your 2019 business tax return yet? There may be ways to chip away at your bill. Image
Haven’t filed your 2019 business tax return yet? There may be ways to chip away at your bill.

The extended federal income tax deadline is coming up fast. As you know, the IRS postponed until July 15 the payment ...

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7/1/2020
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
CARES Act: Funding and Employment Retention Provisions Image
CARES Act: Funding and Employment Retention Provisions

CARES Act - Funding and Employment Retention Provisions

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

CARES Act - Tax Provisions for Businesses

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
Winston Churchill and the Tax Affecting of Pass-Through Entities

This article is as close as it gets in the valuation world to the “Extra, Extra… Read all about it&...

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8/29/2019
Fairness and Equity Among Family Members Image
Fairness and Equity Among Family Members

Owning a successful business can complicate family relations, especially when it comes to family finances. With ...

Which Door to Take?

Monty Hall and the Discount for Lack of Marketability…

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7/25/2019
“What... is the air-speed velocity of an unladen swallow?”

Monty Python and the Discount for Lack of Marketability

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5/30/2019
United States District Court Strikes Blow Against the Undead!

OK – the subject line of this article is a naked attempt to attract your attention but if you read on you ...

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4/18/2019
3 Things That Can Build Future Business Value

What can you do to help yourself overcome growth plateaus?

Go Forth and Multiply!

A brief explanation of EBITDA v. SDE in calculating the value of a business

Concrete Data to help with “The Art of the Deal”

Do you have the information you need to negotiate for your business?

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2/8/2019
How Business Owners Are Approaching Their Futures

Take a moment to consider the long-term future of your business.

How a REIT Can Benefit From a Cost Segregation Study

Many REITs are eligible to implement a tax strategy known as cost segregation. Unfortunately, misinformation has left...

Are Your Business Expenses Deductible Under New Tax Law? Image
Are Your Business Expenses Deductible Under New Tax Law?

The deductibility of certain expenses is obvious, while in other cases it’s unclear. And the TCJA affects many ...

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11/28/2018
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
Does Your Nonprofit Properly Report Donations?

Your not-for-profit probably already ensures that donors receive a receipt with information about claiming a charitab...

Financial Sustainability and Your Nonprofit

If your not-for-profit relies heavily on a few funding sources — for example, an annual government or foundatio...

"Can’t You See This is The Land of Confusion": Uncertainty and the Tax Cuts and Jobs Act

While it remains the case that the lower corporate tax rates for C corporations increase cash flows and therefore pot...

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2/3/2018
Collaborating for a Cause: Nonprofit Alliances

Countless nonprofits have partnered up for strength and survival in recent years, but the success of these arrangemen...

THE TAX CUTS AND JOBS ACT: Changes to Itemized Deductions

Part 2 of 3: A summary of the most widely applicable points of the tax reform passed in December 2017.

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1/19/2018
THE TAX CUTS AND JOBS ACT: 30 Ways The Act May Affect You And Your Business

A summary of the most widely applicable points of the tax reform passed in December 2017.

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1/19/2018
THE TAX CUTS AND JOBS ACT: Changes to Business Taxation

Part 3 of 3: A summary of the most widely applicable points of the tax reform passed in December 2017.

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1/19/2018
THE TAX CUTS AND JOBS ACT: Changes to Individual Taxation

Part 1 of 3: A summary of the most widely applicable points of the tax reform passed in December 2017. 

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1/19/2018
Did Singing Auld Lang Syne Increase Company Valuations?

The Impact of New Tax Law on Valuations

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1/13/2018
"Caught between the Scylla and Charybdis": What Sting Knows About Valuing Small Businesses

Sting is one of the more cerebral pop musicians and he clearly is wise to the ways of business valuation practice. So...

How Do I Sell Thee? Let Me Count the Ways

It’s been said that the best time to plant a tree is 20 years ago — or today. The same applies to your bu...

EBITDA and Fair Market Value

One of the main differences between the world of real life transactions and the fair market value world is the way th...

Goal of Board: Fiscal Responsibility

Although each board's involvement in its not-for-profit agency's operations varies from situation to situation, all b...

Almost as Riveting as Game of Thrones...

Well, maybe that's a bit of an oversell, but certainly having a greater impact on the pocket book, the battle over ho...

A & A Advisor | June 2015

Accounting for business combinations In accounting and reporting for transactions that represent business combinatio...

When Goodwill has No Value

Recently, I have dealt with a number of issues relating to the valuation of goodwill. One particular case involved a ...

Do You Need a Business Plan for Your Nonprofit?

A business plan is like a road map. It can help you get where you’re going. It also can tell you that it may no...

The Rule of Thump

An article in the Atlantic Monthly refers to the emergence of a new term - the "rule of thump" - based on confusion w...

"It was a Very Good Year" - 1959 Ruling Stands the Test of Time

Channeling Frank Sinatra this month, I turn my attention to Revenue Ruling 59-60. This key valuation document issued ...

Valuation Factors for a Franchise

On the southeast corner of a major, urban intersection is an established privately-held "fast food" hamburger restaur...

Earning Capacity: The Critical Piece of the Puzzle

Where does the value of a business come from? First and foremost, it comes from the ability to generate earnings, its...

Champagne Wishes and the Valuation Issues of the Rich and Famous

The opportunity to gawp at the lifestyles of the rich and famous was a side benefit to taking a look at a dispute ove...

Solid Financial Structure Crucial to Sound Management

A nonprofit's financial management system involves much more than tracking money in and out. Your ability to deliver ...

Why Financial Statement Adjustments Are Made in Valuation Process

Clients are often mystified by the adjustments business valuation analysts make to financial statements when we start...

"I'm a Lumberjack and I'm OK!" - Cash Flows from Timber Apparently Trump the Value of Land

What a great start to 2015 - when a recent case allows me to include a reference to the halcyon days of Monty Python ...

Who Needs to Go to Vegas? Small Business Owners can Gamble for High Stakes from the Comfort of Their Offices!

Many entrepreneurs start a business with other like-minded business people and don’t want to think about what h...

Budget Preparation a Time For Problem Solving

Many nonprofit managers regard budgeting as a necessary evil that must be done to satisfy the board of directors and ...

The Season of Personal Goodwill

The case of Bross Trucking v Commissioner (Tax Ct. Memo LEXIS 109) was not strictly a valuation case but did address ...

"It All Depends Upon Your Appetite" - Or More Accurately the Judge's Appetite!

This month's commentary does not feature bottles of red or white (with apologies to Billy Joel) - though other bevera...

A & A Advisor | October 2014

Three accounting alternatives for private companies To provide for accounting alternatives that certain private comp...

"Losing My Religion" - An IRS Lament?

A recent tax court case allows me to dig up a reference to an R.E.M. hit single (never my favorite, but, hey, any por...

A & A Advisor | August 2014

Alternatives reduce private company cost of standards compliance  Two accounting alternatives within the U.S. genera...

"All You're Ever Gonna be is Mean - But Which One?"

In an effort to be down with the kids, this month's title comes from a Taylor Swift hit single - a big step from my n...

Inventory Counts - August 2014

Four simple solutions for reducing waste Those of us who operate in the manufacturing and distribution world are fam...

"There Are Three Kinds of Lies: Lies, Damned Lies, and Statistics"

I recalled this bon mot from Mark Twain as I reviewed a recent article from Business Valuation Resources that focused...

Understanding Small Business Certification Image
Understanding Small Business Certification

As companies vie for their share of federal funds in a competitive market, many are weighing the benefits of a small ...

A & A Advisor | June 2014

Definition of "public business entity" brings much needed clarity Currently, multiple definitions of "public busines...

"Let's Start at the Very Beginning" - Do-Re-Me and the Cost of Capital

Sometimes it's just good to channel Maria in the Sound of Music and go back to basics. I recently had a good opportun...

"If You Know What I Mean" - Estate of Richmond v. Commissioner, Part the Third

A Neil Diamond song title as this month's hook? What? Who? How? Calm down - all will be revealed at the end of this e...

"Bang Bang" - The Tax Court Shot Him Down...

I never thought I would be minng Cher's back catalog for inspiration for an even more tenuous link for the title to t...

When to File an Estate Return Under New Law

The American Taxpayer Relief Act that became law on Jan. 2, 2013, changed the landscape of when an estate tax return ...

A Giant LEAP for Mankind? Maybe Not, but Some Helpful Data for Valutions

This month we're going to do some finance stuff - be warned, there may even be a formula... As valuation analysts, we...

A & A Advisor - October 2013

Welcome to the October edition of A & A Advisor! In this issue: New Guidance: How to use the liquidation basi...

Waiting in Vain? How Long Does it Take to Sell a Company?

We know that Bob Marley didn't want to wait in vain (in fact he said so repeatedly in the song) - and neither does th...

Inventory Counts - July 2013

Welcome to the July 2013 edition of Inventory Counts! In this issue: Reinstated R&D Credits: Don't miss this ...

Inventory Counts | May 2013

Welcome to the May 2013 edition of Inventory Counts! In this issue: Your Supply Chain Water Conservation Custo...

A & A Advisor - April 2013

Welcome to the February edition of A & A Advisor! In this issue: Special-Purpose Financial Reporting Framewo...

Free as a Bird Now! Eagle Dilemma Resolved

You may recall that I sent out an e-mail last year highlighting the dispute between the Estate of Ileanna Sonnenband ...

Inventory Counts - March 2013

Welcome to the March 2013 edition of Inventory Counts! In this issue: Pricing Strategies: Are Your Products Pric...

A & A Advisor - February 2013

Welcome to the February edition of A & A Advisor! In this issue: Limited liability entities Have you analyz...

Legislative Update from the General Assembly

On January 9th, 2013, the 46-day-long General Assembly session opened and, as in previous years, the VRF lobby team h...

A&A Advisor | December 2012

Welcome to the December edition of A & A Advisor! In this issue: How to account for.. Deferred compensation ...

A&A: New Standards for Audit Engagements

As we plan for the upcoming audit season, the Audit & Accounting team at Wall, Einhorn & Chernitzer, P.C. (WE...

Fly Like an Eagle? The IRS Will Bring You Back Down to Earth

I struggled with the title of this item......the story itself has been a godsend to headline writers and I don't feel...

A & A Advisor - Fall 2012

Welcome to the Fall edition of A & A Advisor!  In this issue: What if ... management doesn’t evaluate variabl...

"Doctor, Doctor - Give Me The News..." - Is the Medical Profession More Prone to Litigating Divorces Than Other Professions?

Please file the following under the "I'm just sayin'..." category - far be it from me to draw any conclusions!  ...

Wounded Warriors Tax Credits

What is the Returning Heroes and Wounded Warriors Work Opportunity Tax Credit? The Returning Heroes and Wounded ...

Due Diligence: How to Avoid Surprises When Acquiring a Manufacturing Company

Due diligence is one of the most critical stages in the process of purchasing a business. Some buyers incorrectly ass...

3 Ways a Cost Segregation Study Can Help You

A cost segregation study can help you maximize tax savings and increase cash fl ows on
your future, current...

"I Have Only Come Here Seeking Knowledge..." But What Knowledge is Allowed to Affect a Valuation?

I have always cringed when Sting followed up the title line with "Things they would not teach me of in college". On t...

"A Man Hears What He Wants to Hear...and Disregards the Rest": S Corp Valuation Revisited

Paul Simon's lyrics seem to sum up the approach the Tax Court took in the case of Estate of Louise Paxton Gallagher v...

You Can Check Out Anytime You Like.. but you're better off if you figure out what a business is worth before you start!

Don Henley, the sage that he is, goes on to state that: "You can never leave" ... yet that isjust what every business...

"Even if We're Just Dancing in the Dark" Or on the head of a pin?

Oh yes, just squeezing in a Springsteen reference again - it's been a while. So how do I justify this random referenc...

"Clowns to the Left of Me... Jokers to the Right" What's the Value When You're Stuck in the Middle?

So we're trying to value a 50% interest in a company. We've determined the value of 100% to be $10 million ...

Set A Fair Price To Sell Your Share Of The Business

If, emulating Jack Nicholson and Morgan Freeman, you hope to climb the Pyramids and hit the tables in Monte Carlo whe...

‘Look-Through’ Lowdown

We all know how important it is to understand how tax laws affect the day to day operations of a construction busines...