Accounting & Business Advisory Blog

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…

Analytical procedures are required for all financial statement audit engagements, according to the auditing standards published by the American Institute of Certified Public Accountants (AICPA). Audit analytics can help minimize the time and cost associated…

Breakeven and burn rate have historically been used to gauge the viability of start-ups and high-tech companies that have yet to turn a profit. But these analytical tools can also be used by established businesses…

“IRS cracks down on aggressive ERC marketing promoters and employers filing dubious claims” On July 26, 2023, the IRS Commissioner, Danny Werfel, announced that the agency has made significant progress in processing Employee Retention Credit…