Properly managing the tax treatment of intangible assets is vital for businesses to maximize tax benefits and ensure ...
A court ruling has resulted in a nationwide preliminary injunction that temporarily halts beneficial ownership inform...
The deadline is fast approaching for many small businesses to file beneficial ownership information reports. Here&rsq...
A federal court has struck down a new rule regarding the salary threshold for determining whether employees are exemp...
Implementing tax-reduction strategies now can pay off the next time your company files its tax return.
You’re probably familiar with the self-employment tax if you own a business. Here’s a refresher on how it...
The tax-advantaged retirement plan contribution amounts will increase less next year than in previous years due to ea...
With President-elect Trump, the tax landscape will change in 2025.
A solo 401(k) plan is a powerful retirement savings tool if you run a one-person small business. Here’s how you...
The qualified business income (QBI) deduction is scheduled to disappear after 2025. Congress could extend it, but don...
Ever wonder why the accounting rules are so complicated and ever-changing? As the markets evolve and new challenges a...
Changes are coming to the Social Security system in 2025 in the form of a higher wage base. Next year’s thresho...
What triggers an IRS audit and how can you prepare if your business is selected?
Election day is less than a month away. Here’s a rundown of the major tax proposals of the two candid...
It’s been an especially difficult year for victims of natural disasters, including those affected by Hurricane ...
It may be advantageous to separate ownership of a business’s real estate from the business. But it isn’t ...
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...
The Federal Trade Commission’s ban on noncompete agreements is now in limbo after a recent court ruling.
Guaranteed payments to partners and payments to retired partners are just two of the tax issues that should be addres...
We’ll be saying goodbye to 2024 in no time. Here are some year-end moves to consider that may help your small b...
A limited liability company can provide personal liability protection from creditors while delivering tax benefits. I...
If your business is creating a partnership agreement or LLC operating agreement, it should include tax-related specif...
When developing your business’s website, how do you handle the expenses for tax purposes? Here are the basic ru...
Choosing between the cash method of accounting and the accrual method for tax purposes can impact your tax situation....
If you’re the owner of a pass-through entity, the federal income tax rules for gains from the sale of business ...
The tax landscape for businesses may change significantly in the near future. That’s because provisions in the ...
The IRS has issued final regulations regarding inherited IRAs and other defined contribution plans.
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...
What are the tax consequences of selling business assets? They can be complex.
For most business co-owners, the value of their business shares comprises a big percentage of their estates. Having a...
Closely held corporation owners: If you need money for personal expenses like a new car or home improvements, conside...
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 ...
When buying a business, you may not focus on taxes. But the way the transaction is structured can lead to better or w...
Two new federal rules regarding overtime pay and noncompete agreements have recently been adopted.
If you’re a business owner without a retirement plan, establishing one is simpler than you may think. And there...
Contractors preparing their 2023 Incurred Cost Submission must consider the Bipartisan Budget Act's compensation cap ...
Annually adjusted compensation caps for contractor employees, set by the Bipartisan Budget Act of 2013, require adher...
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...
If your small business would like to exchange goods and services without exchanging money, you may be able to barter....
The deadline to comply with a new U.S. Dept. of Labor rule regarding worker classification is fast approaching. Is yo...
Timeliness counts in financial reporting. Here’s why it pays to issue your company’s financial statements...
As you may know, dividends paid out by a corporation are taxable to shareholders and can’t be deducted by the b...
Businesses that file 10 or more information returns must now file them electronically.
Are you contemplating a merger or acquisition in 2024? Comprehensive financial due diligence is the cornerstone of a ...
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...
Reference this tax calendar to learn the 2024 deadlines for various tax-related forms and payments.
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...
Is your company’s job-costing system accurate and user friendly? Tracking costs can help identify which project...
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 IRS is delaying the $600 Form 1099-K reporting threshold for third-party settlement organizations for the 2023 ta...
The holiday whirlwind has begun. There may be ways your small business can save on 2023 taxes. But you must act fast....
Ever heard of a cost segregation study? It’s a strategy that can yield tax benefits, but it’s not the rig...
Choosing the best entity for your business is a multi-faceted decision. Here’s a look at the some of the consid...
The IRS recently announced the special “per diem” rates that became effective Oct. 1, 2023. Here are the ...
Certain business owners and some of their employees don’t have to pay Social Security tax on all their wages. A...
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...
Inflation has some beneficial side effects. One is that the amount of depreciation tax breaks your business can claim...
Divorce can be financially complicated, especially if one or both of the spouses owns a business.
If your corporation defaults on a loan that you guarantee, there may be tax consequences. You don’t want to be ...
Next year, a new provision kicks in that may allow businesses to help employees in financial emergencies through thei...
Some taxpayers can look forward to receiving transitional relief from the IRS related to the required beginning dates...
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 ...
When spending money personally on behalf of your closely held corporation, you want to ensure the expenses are tax de...
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.
The Trust Fund Recovery Penalty is personally imposed on certain business owners and managers when employment taxes a...
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...
With a financial crisis averted, let’s take a look at the highlights of the Fiscal Responsibility Act.
If your business has a choice to deduct real estate expenses or depreciate them over several years, the decision may ...
Traveling for business this summer? Here’s a rundown of the tax deductions you can claim for business trav...
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 ...
Many organizations use QuickBooks for everyday accounting tasks. But did you know that this software can also functio...
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...
An educational assistance program can be a win-win. Employees value the perk and employers can benefit from a more ed...
Thinking about hiring your high-school or college-age child to work in your business? You could reap significant tax ...
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.
If you’re a small business owner, you may be reluctant to set up a retirement plan because of the administrativ...
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...
Here’s a rundown of the business and individual tax provisions included in President Biden’s recently rel...
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...
For the 2022 tax year, Virginia joined the growing list of states which now allow a qualifying pass-through entity (&...
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...
Newly issued rules on how to report supplier finance programs will provide critical information on the financial heal...
The tax treatment of computer software costs can be more complicated than you might think. Here are the basic rules.<...
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...
Business owners and their employees may not have to pay Social Security tax on ALL of their wages. Amounts above a ce...
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...
The price of gas is going up again in some parts of the country. That may affect the tax deductions for local transpo...
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...
With 2021 in the rear-view mirror, it’s once again time for calendar year-end government contractors to start t...
Start the year off right with reliable financial forecasts. Here are five questions to guide you through the process....
The price of gas is up about $1 a gallon from a year ago. How does this affect the amount your business can deduct fo...
What are the keys to your company’s success? Read on to help unlock the answer.
Businesses face a variety of tax-related deadlines in the first quarter of 2022. Here are some of them.
Has your business forecast its goals for next year? The pandemic has shed light on the shortcomings of static year-en...
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.
The sun has set on the valuable Employee Retention Credit. Here’s what happened.
Is your business giving holiday gifts to employees or customers this year? Or are you throwing a holiday party? Here ...
There are many factors to consider when choosing a business entity. Here are just a few.
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 ...
When it comes to business planning, time plays a large part in long-term success.
Business owners and their employees don’t have to pay Social Security tax on all their wages. Amounts above a c...
Reducing employee risk plays a vital part in planning your business's future success and growth for the company....
The fate of the Build Back Better Act and the Bipartisan Infrastructure Bill remains uncertain as Congress continues ...
Let's talk about the importance of communicating your business plans to those who can help you achieve them.
...
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...
Claiming depreciation deductions for a passenger automobile can involve complex calculations. Here are the basic rule...
As a successful business owner, it's essential to know the reason behind why you're protecting your business and...
Have you been affected by one of the many natural disasters that have occurred this year? Tax relief may be available...
If your business is victimized by theft, embezzlement or internal fraud, you may be able to claim a tax deduction for...
Creating incentives for key employees to support your business long-term can be a great benefit to planning the futur...
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...
When determining the future of your business, preparing key employees for a potential stake in ownership can position...
Certain types of businesses receive large payments of cash. They may be required to report the transactions to the IR...
There are several options for operating your small business. For example, a sole proprietorship, an S corporation or ...
Most business owners have a personal financial plan, but let's talk about why connecting that with a business continu...
If you spend money personally on behalf of your closely held corporation, you want to make sure either you or the bus...
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...
With a successful business comes the constant threat of competitors. Let's evaluate what your company's assets are an...
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 ...
Owners of “pass-through” businesses can claim a valuable tax deduction that was created by a 2017 law. He...
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.
Join us for an upcoming webinar hosted in partnership with Keiter CPAs.
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...
"Recordkeeping DOs and DON’Ts for Business Meal and Vehicle Expenses" | Keeping meticulous business record...
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...
Employee or independent contractor? That’s the question businesses ask when they bring on certain workers. Here...
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 ...
President Biden’s proposals for individual taxpayers were outlined in an April 28 address to Congress and in an...
There’s a great deal of interest in alternative energy technologies today. If your business invests in certain ...
Setting goals is an important part of business planning. In order to set strong goals for your business, let's take a...
Thinking about hiring your teenager to work in your business? There can be significant tax benefits.
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...
Data analytics can help your nonprofit validate trends, uncover root causes and improve transparency. But before you ...
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.
It’s not enough to maintain your current supporter base. You also need to grow it. Here are five tips for attra...
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’...
Business owners put years of planning and preparation into making their businesses successful. However, have you...
A filing requirement is coming up if your business pays independent contractors or makes other payments.
How strong are your company’s internal controls? Public companies must answer this question annually, and priva...
Businesses that have been hit hard by the COVID-19 may be able to obtain help with PPP loans. Here are the basic rule...
Focused business planning is essential in order to succeed in a world that is constantly changing and encouraging us ...
The Employee Retention Tax Credit rewards employers that can afford to keep workers on the payroll during the COVID-1...
Businesses received several favorable tax breaks in the COVID-19 relief bill that was recently signed into law. Here ...
As a business owner, when you go to sell your business, you may be looking at a long list of candidates. One of your ...
Has your nonprofit received a flood of clothing and other noncash property that needs to be valued? These gifts usual...
Are you reconsidering the choice of entity for your business? These are several factors to consider when converting f...
One of the major provisions of the Consolidated Appropriation Act, 2021 has been the extension and modification of th...
There are many benefits, as well as challenges, to transferring the ownership of your business to someone in your fam...
Members who are deeply involved with your nonprofit are more likely to stick with it. What other factors promote memb...
Here are two ways to get more from your company’s year-end financial statements.
An endowment can help ensure your nonprofit’s long-term survival. But before you establish an endowment or buil...
Some taxpayers may be able to achieve significant savings with the QBI deduction by taking certain steps at year end....
A SWOT analysis can a powerful management tool, especially in today’s volatile marketplace.
This year, many businesses were affected by the pandemic. Here are some things we have learned.
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...
It’s almost time for year-end inventory counts. But, if COVID-19 cases are surging in locations where your comp...
Tis the season for donations! Are you properly substantiating contributions with detailed acknowledgment letters to d...
Do you operate your business as an S-Corp? Be aware that several elections are available to you and your shareholders...
Accounting is time-sensitive. Here’s a primer on cutoffs for reporting revenue and expenses to help companies t...
As long as the pandemic continues, nonprofit boards must be on their toes. Budgets and financial statements, in parti...
Health Savings Accounts offer a way to set aside money on a pre-tax basis to pay for qualified medical expenses. Here...
It can be difficult to consider what will happen to your business and your family if you die unexpectedly. This ...
The Donor Bill of Rights still offers solid principles for the care and handling of your nonprofit’s donors. Bu...
Before audit season starts, consider how a conflict of interest could negatively impact your financial statements.
Entrepreneurs: Don’t ignore saving for retirement. Here are the basics of tax-favored plans to help build your ...
Good delegation is essential to running your nonprofit efficiently and cost-effectively. Here’s how to choose t...
Employees pay Social Security tax on their wages up to the current tax year’s “wage base.” The SSA ...
Next-level management teams are the drivers behind building business value, but how can you and your advisors attract...
Insurance is the cornerstone of your risk management program. Fortunately, it can be affordable because most nonprofi...
Internal auditors can provide assurance that a nonprofit’s internal controls are effective at minimizing risk, ...
What is due diligence and why is it important when it comes to selling your business? Find out more...
Nonprofits are obligated to use resources to support their mission and benefit those they serve. Here’s why ins...
We asked our tax professionals for a few suggestions on how to get organized and prepare for 2021. Here they are...
The passive activity loss rules can be complex and trip up some taxpayers. Here are the rules.
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.
When deciding to exit your business, you will need a proven process in place to ensure you have covered all the bases...
When licensing arrangements work, both charities and corporate partners can experience significant benefits, includin...
The tax rules for treating computer software costs can be complex. Here’s a basic explanation.
It’s almost audit season for calendar-year entities. Will you be ready to participate in video conferences with...
How do I do the most good with my donation? That’s what a lot of your nonprofit’s donors are asking. Foll...
Every action you take during the life of your business has an impact on your departure down the road. Learn more ...
Before your nonprofit joins a collective impact initiative, review five typical requirements; it could mean the diffe...
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.
Who cares if your financial statements are late? Lenders and investors, that's who. Procrastination may cause them to...
Even if your private foundation has good intentions, it may not be enough. You need a conflict-of-interest policy to ...
The IRS has issued guidance to implement the deferral of the employee share of SS tax, but employers still have quest...
Know the difference between Succession Planning, Exit Planning and Business Planning and how to best execute each.
Many businesses have undergone strategic shifts during the pandemic. Here’s how to determine whether that chang...
Financial dashboards help nonprofit leaders make decisions by providing clear visualizations of key metrics. Here is ...
Depreciating assets involves a complex area of tax law; here’s a rundown:
Follow these steps to develop a clear picture of how to transition your business to the successor you choose.
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.
Under stress? Here’s how you can spot vulnerabilities and prevent your business from being blindsided in crisis...
Government or foundation grants can help your nonprofit, but they could hamstring your organization. Learn more....
If your business received a PPP Loan, you should be aware of the potential tax implications.
Business owners often consider “insiders” as viable successors. Can this be a fatal flaw in planning...
Nonprofits that enforce a "code of ethical conduct" are associated with 50% lower fraud losses. Get started here...
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.
The SBA just released a new round of FAQs targeted at providing guidance for PPP loan forgiveness. Find out more.
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.
In some cases, partners may be taxed on more partnership income than was distributed to them from their partnerships....
Is your business running like a fine-tuned machine? Dashboard reports can help you quickly recognize problems and eme...
The Fed’s Main Street Lending Program just opened to nonprofits. Find out whether this program can help you.
We are honored and grateful to be named as one of the 2020 Accounting Today’s Best Accounting Firms to Work for...
Bartering is popular during times of economic downturns, which many businesses are suffering now due to COVID-19...
Even if your nonprofit isn’t required to have an external audit, there are many good reasons to obtain this add...
Beware: Your supply and service contracts may contain hidden surprises known as “embedded” leases.
A tax form that used to be filed back in the 1980's is coming back for 2020. Here’s what businesses need to kno...
The “Trust Fund Recovery Penalty” is among the more dangerous tax penalties facing business owners and ma...
The extended federal income tax deadline is coming up fast. As you know, the IRS postponed until July 15 the payment ...
One of the most important elements of a successful business transition is transferable value. No matter what an owner...
COVID-19 and widespread unemployment have increased difficulties for nonprofits. Is your board up to the challenge?
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...
What we are doing to engage our talent pools
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...
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...
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?
This article is as close as it gets in the valuation world to the “Extra, Extra… Read all about it&...
Owning a successful business can complicate family relations, especially when it comes to family finances. With ...
Monty Hall and the Discount for Lack of Marketability…
Monty Python and the Discount for Lack of Marketability
OK – the subject line of this article is a naked attempt to attract your attention but if you read on you ...
What can you do to help yourself overcome growth plateaus?
A brief explanation of EBITDA v. SDE in calculating the value of a business
Do you have the information you need to negotiate for your business?
The criteria and precedent used to determine sales tax liability has changed. Will this change affect your business' ...
A brief summary of each state's economic nexus thresholds
Take a moment to consider the long-term future of your business.
The new Qualified Business Income Deduction is one of the more complex proposed changes in the Tax Cuts and Jobs Act,...
Many REITs are eligible to implement a tax strategy known as cost segregation. Unfortunately, misinformation has left...
The deductibility of certain expenses is obvious, while in other cases it’s unclear. And the TCJA affects many ...
Which parts of the recent tax reform have the greatest impact on not-for-profit organizations?
New accounting rules for reporting leases finally goes into effect in 2019 for public companies and 2020 for nonpubli...
Your not-for-profit probably already ensures that donors receive a receipt with information about claiming a charitab...
If your not-for-profit relies heavily on a few funding sources — for example, an annual government or foundatio...
While it remains the case that the lower corporate tax rates for C corporations increase cash flows and therefore pot...
Countless nonprofits have partnered up for strength and survival in recent years, but the success of these arrangemen...
A summary of the most widely applicable points of the tax reform passed in December 2017.
Part 1 of 3: A summary of the most widely applicable points of the tax reform passed in December 2017.
Part 3 of 3: A summary of the most widely applicable points of the tax reform passed in December 2017.
Part 2 of 3: A summary of the most widely applicable points of the tax reform passed in December 2017.
The Impact of New Tax Law on Valuations
Sting is one of the more cerebral pop musicians and he clearly is wise to the ways of business valuation practice. So...
It’s been said that the best time to plant a tree is 20 years ago — or today. The same applies to your bu...
Under the new requirements of the Uniform Guidance (UG), procurement standards were modified to implement stricter re...
Some people might argue that the keeping of board minutes is the most important job on any board of directors. It&rsq...
During tough budgetary times, you may have to cut expenses across the board, including costly perks, bonuses and rewa...
If a tax-exempt organization engages in a business that is unrelated to its primary purpose, the general rule is that...
BEWARE - Taxpayers are receiving telephone calls from people claiming to be from the IRS, but they are not. These con...
One of the main differences between the world of real life transactions and the fair market value world is the way th...
Although each board's involvement in its not-for-profit agency's operations varies from situation to situation, all b...
Well, maybe that's a bit of an oversell, but certainly having a greater impact on the pocket book, the battle over ho...
Accounting for business combinations In accounting and reporting for transactions that represent business combinatio...
Recently, I have dealt with a number of issues relating to the valuation of goodwill. One particular case involved a ...
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...
An article in the Atlantic Monthly refers to the emergence of a new term - the "rule of thump" - based on confusion w...
Channeling Frank Sinatra this month, I turn my attention to Revenue Ruling 59-60. This key valuation document issued ...
On the southeast corner of a major, urban intersection is an established privately-held "fast food" hamburger restaur...
Where does the value of a business come from? First and foremost, it comes from the ability to generate earnings, its...
The opportunity to gawp at the lifestyles of the rich and famous was a side benefit to taking a look at a dispute ove...
A nonprofit's financial management system involves much more than tracking money in and out. Your ability to deliver ...
Your mission is the reason your organization exists. Staff, resources and community support are dedicated to addressi...
757 Angels Inc., an initiative of Reinvent Hampton Roads, launched last week after more than a year of planning. 757 ...
Clients are often mystified by the adjustments business valuation analysts make to financial statements when we start...
What a great start to 2015 - when a recent case allows me to include a reference to the halcyon days of Monty Python ...
Many entrepreneurs start a business with other like-minded business people and don’t want to think about what h...
Many nonprofit managers regard budgeting as a necessary evil that must be done to satisfy the board of directors and ...
The case of Bross Trucking v Commissioner (Tax Ct. Memo LEXIS 109) was not strictly a valuation case but did address ...
Few, if any, of us enjoy dealing with the IRS. Often polled as America’s most hated federal agency, the agency&...
A Brief Overview of Frequently Asked Questions
This month's commentary does not feature bottles of red or white (with apologies to Billy Joel) - though other bevera...
Three accounting alternatives for private companies To provide for accounting alternatives that certain private comp...
Even though an organization is recognized as tax-exempt, it still may be liable for tax on its unrelated business tax...
Many tax-exempt organizations publish magazines or other periodicals that contain editorial material related to the o...
Many tax-exempt organizations allow for-profit entities to use the organization's name or logo to market goods and se...
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...
Alternatives reduce private company cost of standards compliance Two accounting alternatives within the U.S. genera...
Keeping volunteers happy, committed and enthusiastic is a challenging task for most nonprofits.
All too often...
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...
Those of us who operate in the manufacturing and distribution world are familiar with the “Seven Deadly Wastes&...
Four simple solutions for reducing waste Those of us who operate in the manufacturing and distribution world are fam...
I recalled this bon mot from Mark Twain as I reviewed a recent article from Business Valuation Resources that focused...
Board Members of nonprofit organizations - or those responsible for the financial well-being of one - should become f...
As companies vie for their share of federal funds in a competitive market, many are weighing the benefits of a small ...
Definition of "public business entity" brings much needed clarity Currently, multiple definitions of "public busines...
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 your nonprofit operates a second-hand store, gift shop or other retail venture, you should be on the lookout for t...
The first step in organizing a nonprofit is identifying the mission. Keeping an organization true to that mission is ...
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...
I never thought I would be minng Cher's back catalog for inspiration for an even more tenuous link for the title to t...
The American Taxpayer Relief Act that became law on Jan. 2, 2013, changed the landscape of when an estate tax return ...
This month we're going to do some finance stuff - be warned, there may even be a formula... As valuation analysts, we...
Welcome to the October edition of A & A Advisor! In this issue: New Guidance: How to use the liquidation basi...
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...
Welcome to the July 2013 edition of Inventory Counts! In this issue: Reinstated R&D Credits: Don't miss this ...
Nonprofits have faced a challenging situation during the Great Recession. Contributions have declined for the majorit...
Welcome to the May 2013 edition of Inventory Counts! In this issue: Your Supply Chain Water Conservation Custo...
Welcome to the February edition of A & A Advisor! In this issue: Special-Purpose Financial Reporting Framewo...
If you're in a management role with a nonprofit, chances are you sometimes have to give presentations to groups of in...
If you want the best, most effective, board of directors possible, start with one vital requirement: a commitment to ...
As a nonprofit organization, you hold coveted IRS tax-exempt status, can accept grants and donations, and enjoy the p...
You may recall that I sent out an e-mail last year highlighting the dispute between the Estate of Ileanna Sonnenband ...
Welcome to the March 2013 edition of Inventory Counts! In this issue: Pricing Strategies: Are Your Products Pric...
The characterization of expenditures relating to fixed assets (tangible property) has been a challenge since the ince...
Richard E. Groover CPA Inventory turnover is a Key Performance Indicator (KPI) on the radar of almost every manufact...
Welcome to the February edition of A & A Advisor! In this issue: Limited liability entities Have you analyz...
On January 9th, 2013, the 46-day-long General Assembly session opened and, as in previous years, the VRF lobby team h...
As the New Year's ball worked its way down its 141-foot drop in the seconds leading up to midnight on December 31, ma...
During tough economic times, your nonprofit organization should always be looking for ways to improve and differentia...
After weeks, indeed months of proposals and counter-proposals, seemingly endless negotiations and down-to-the-wire dr...
Welcome to the December edition of A & A Advisor! In this issue: How to account for.. Deferred compensation ...
As we plan for the upcoming audit season, the Audit & Accounting team at Wall, Einhorn & Chernitzer, P.C. (WE...
Every taxpayer wants to reduce his/her tax liability, and if you are involved in qualified research activities, the R...
I struggled with the title of this item......the story itself has been a godsend to headline writers and I don't feel...
A strong case statement is critical for any major fundraising campaign, whether you plan to approach foundations, ind...
Having current demographics on your client base is an important part of making your case for services and funding. Ma...
Dramatic tax increases scheduled to go into effect in 2013 make 2012 tax planning imperative. The following taxes may...
Welcome to the Fall edition of A & A Advisor! In this issue: What if ... management doesn’t evaluate variabl...
As a contractor doing business with the federal government it is important to be familiar with the ever changing regu...
Please file the following under the "I'm just sayin'..." category - far be it from me to draw any conclusions! ...
The Supreme Court upheld President Obama's signature health care reform in a 5-4 decision on June 28, 2012. Beg...
What is the Returning Heroes and Wounded Warriors Work Opportunity Tax Credit? The Returning Heroes and Wounded ...
The Returning Heroes and Wounded Warriors Work Opportunity Tax Credit is an extension of the Work Credit available fo...
Even if you work full time in the real estate field, you may not be considered a real estate professional in the eyes...
Due diligence is one of the most critical stages in the process of purchasing a business. Some buyers incorrectly ass...
The Client: A large manufacturer of offi ce products involved in a vertical acquisition of one of its primary distrib...
A cost segregation study can help you maximize tax savings and increase cash fl ows onyour future, current...
I have always cringed when Sting followed up the title line with "Things they would not teach me of in college". On t...
Paul Simon's lyrics seem to sum up the approach the Tax Court took in the case of Estate of Louise Paxton Gallagher v...
Don Henley, the sage that he is, goes on to state that: "You can never leave" ... yet that isjust what every business...
Oh yes, just squeezing in a Springsteen reference again - it's been a while. So how do I justify this random referenc...
So we're trying to value a 50% interest in a company. We've determined the value of 100% to be $10 million ...
Paul G. DiNardo CPA They are essential for the successful sale of a company and are the responsibility of the owners...
We understand that business owners are so busy addressing today’s economic challenges that they can overlook th...
If, emulating Jack Nicholson and Morgan Freeman, you hope to climb the Pyramids and hit the tables in Monte Carlo whe...
Paul G. DiNardo CPA Recent legislation makes Section 529 plans – already one of the most powerful college funding to...
We all know how important it is to understand how tax laws affect the day to day operations of a construction busines...
Property owners planning either a renovation or a rebuild of an existing facility have several tax implications to co...
Many construction companies suffer from a disabling condition called “profit fade.” It occurs when a cont...
If you’re like the millions of baby boomers now nearing retirement age, you’ve probably thought about handing off you...
Construction companies face an imposingly complex choice when it comes to their accounting methods. Because no two pr...
Paul G. DiNardo CPA When reporters ask billionaire Bill Gates what will happen to Microsoft if he should die, Gates ...
Paul G. DiNardo CPA What do manufacturers and architecture/engineering firms have in common? If their service or pro...
Paul G. DiNardo CPA Many manufacturers find the lure of selling to retailers in faraway markets too enticing to resi...