Author: Kirsch CPA Group

The Tax Cuts and Jobs Act (TCJA) included many important federal income tax provisions that affect small business taxpayers and their owners. Some of these provisions are scheduled to expire in the near future, unless Read More

Financial statements are an important piece of the business valuation puzzle. Appraisal professionals typically consider three approaches when valuing a business — the cost, market and income approaches — ultimately relying on one or two Read More

The IRS can initiate an audit of your nonprofit organization for any number of reasons. But one of the most common is a red flag sent up by your annual filing of Form 990, "Return Read More

Real estate can be an attractive long-term investment. But the legal entity you select to own property can have important tax implications. Here's why single-member limited liability companies (SMLLCs) are generally a better alternative than Read More

Workers' compensation insurance can provide medical care and financial assistance to employees who are injured or incapacitated at work. However, this important benefit is also subject to fraud perpetrated by dishonest workers. The Coalition Against Read More

In June 2024, the IRS released final regulations addressing the prevailing wage and apprenticeship (PWA) requirements for increased clean energy tax deduction or credit amounts. These tax breaks were made available under the Inflation Reduction Read More

The traditional 401(k) plan is the most popular qualified retirement plan in the United States. As of March 31, 2024, Americans held $7.8 trillion dollars in 401(k) plans (out of a total $11.1 trillion invested Read More

Your choice of accounting method for determining the value of your manufacturing company's inventory can significantly impact your overall tax bill. Here are answers to some key questions regarding the tax and financial implications of Read More

Charitable donations can provide businesses with significant tax savings. But for gifts over a certain amount, they must obtain a contemporaneous written acknowledgement of their donations to qualify for a charitable contribution deduction. Failing to Read More

Federal payroll taxes are a necessary evil for both employers and employees. Under the Federal Insurance Contributions Act (FICA), employees must pay Social Security and Medicare taxes. For their part, employers must withhold the tax Read More