Accounting & Business Advisory Blog

Intangible assets have become increasingly vital to the value of many companies. While their benefits may be obvious to business owners, their tax treatment often isn't. Taxpayers may be surprised by the expansive IRS definition…

A role of CPA's is to act as "gatekeepers," emphasizing their responsibilities for identifying fraud risks and detecting material misstatements in the financial statements. These responsibilities are currently at the forefront due to changes to…

Are you considering inviting an employee or an outsider to participate in your existing partnership? Before making any commitments, it's important for you and the prospective partner to understand the potential federal tax implications. Important:…

After receiving a deluge of improper Employee Retention Tax Credit (ERTC) claims, the IRS recently announced an immediate moratorium through at least December 31 on processing new claims for the pandemic relief program. The tax…

Construction companies can leverage loans, lines of credit and other such products to help ensure positive cash flow, build creditworthiness and fuel business growth. But the options can seem limitless and overwhelming. Here are seven…

Does your business receive large amounts of cash or cash equivalents? If so, you're generally required to report these transactions to the IRS — and not just on your tax return. Beginning January 1, 2024,…

Reasonable compensation is an issue that comes into play in divorce, shareholder disputes and tax cases. It's also a common financial statement adjustment that valuators make when valuing a business. Although experts are often hired…

When criminals profit from illicit activities, they usually need to "clean" or disguise the proceeds of their crimes. Money laundering disconnects illegally acquired funds from sources that include theft, drug trafficking and terrorism. This makes…

There are many family-owned businesses in the United States, and quite a few of them are facing ownership-transfer issues as their Baby Boomer founders retire. Some older Generation X owners may even be pondering early…

There's more to paying taxes than just federal and state income taxes. Another major tax chore for employers is payroll taxes. These expenditures can be significant, and the reporting requirements can be onerous. So it's…