What’s the Proper Tax Treatment for Intangible Assets?

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…

  • Kirsch CPA Group
  • Sep 26, 2023

Understanding the CPA’s Role in Detecting Fraud

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…

  • Kirsch CPA Group
  • Sep 25, 2023

Partnerships: Tax Considerations When Adding a New Partner

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:…

  • Kirsch CPA Group
  • Sep 22, 2023

IRS Orders an Immediate Stop to New Employee Retention Tax Credit Processing

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…

  • Kirsch CPA Group
  • Sep 20, 2023

7 Questions Contractors Should Ask Before Seeking Outside Financing

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…

  • Kirsch CPA Group
  • Sep 08, 2023

New Upcoming Requirement for Businesses that Receive Large Amounts of Cash

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,…

  • Kirsch CPA Group
  • Sep 07, 2023

How Business Valuation Professionals Estimate Reasonable Compensation

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…

  • Kirsch CPA Group
  • Sep 06, 2023

Keep Money Laundering From Threatening Your Small Business

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…

  • Kirsch CPA Group
  • Sep 05, 2023

Start Succession Planning

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…

  • Kirsch CPA Group
  • Aug 31, 2023

6 Payroll Tax Obligations Employers Should Know

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…

  • Kirsch CPA Group
  • Aug 29, 2023

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