Accounting Outsourcing & Advisory Blog | Kirsch CPA Firm Cincinnati

Should Your Nonprofit Use Quarterly or Monthly Financial Statements?

The complex accounting demands of running a nonprofit organization can quickly outgrow the resources available to manage them. While many nonprofits have a need for two or three full-time employees to manage financial and accounting…

Katie Keller
Dec 20, 2024

Take Your Business to the Next Level with Strategic Business Planning

Strategic business planning can feel overwhelming at times. You know it’s essential, but figuring out where to start can be tricky, especially when daily responsibilities keep pulling your focus elsewhere. But when you do it…

Nick Roell
Dec 11, 2024

Wrap Up Your Business Year with Big Tax Savings

With year end rapidly approaching, many business owners are focusing on budgeting and strategic planning for 2025. But you shouldn't overlook last-minute opportunities to cut taxes for 2024. Here are some tax-smart moves for businesses…

Kirsch CPA Group
Dec 09, 2024

Is a PTET Election Right for Your Construction Company?

Businesses structured as partnerships, S corporations or limited liability companies generally aren't subject to the federal corporate income tax. This is because tax liability "passes through" such entities to each business partner's individual level. If…

Kirsch CPA Group
Dec 05, 2024

The IRS Issues Final Regs for the Advanced Manufacturing Production Credit

The IRS has published final regulations for the Section 45X advanced manufacturing production credit. The final regs update several significant areas from the proposed regs released in late 2023. The Credit in a Nutshell…

Kirsch CPA Group
Dec 03, 2024

Should Your Nonprofit Consider Using Fund Accounting?

Depending on the nature of your not-for-profit organization, there's more than one accounting method to follow. One option is fund accounting, which promotes transparency and can help nonprofits fulfill donor commitments. Fund accounting involves segregating…

Kirsch CPA Group
Nov 25, 2024

Refresher on First-Year Section 179 Depreciation Deductions

Internal Revenue Code Section 179 potentially allows significant first-year depreciation deductions when your business places qualifying assets into service. You generally want to maximize current year depreciation write-offs for newly acquired business assets. However, the…

Kirsch CPA Group
Nov 20, 2024

Company Holiday Parties: Celebrate the Tax Breaks

Are the costs of holiday parties tax deductible? Despite a recent crackdown on business entertainment expense deductions, your company's holiday bash may still qualify for write-offs for the 2024 tax year. You might even be…

Kirsch CPA Group
Nov 15, 2024

7 Tax Breaks for Business Buildings

Businesses are returning to their regular work premises in droves. About 65% of U.S. businesses expect to implement return-to-office policies by the end of 2024, in either a full-time or hybrid capacity, according to Resume…

Kirsch CPA Group
Nov 06, 2024

How To Handle the Changes to R&E Tax Treatment

The Tax Cuts and Jobs Act (TCJA) included a significant — but delayed — change to the tax treatment of research and experimentation (R&E) expenses under Internal Revenue Code (IRC) Section 174. To the surprise…

Kirsch CPA Group
Nov 05, 2024

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