Author: Kirsch CPA Group

The statement of cash flows is arguably the most misunderstood and under-appreciated part of companies' annual reports. But it can also provide valuable insight to stakeholders who understand its uses and potential weaknesses. The guidance Read More

The term "501(c)(3) organization" — which refers to the Internal Revenue Code section governing not-for-profit entities — often is used interchangeably with "public charity." But not all 501(c)(3) organizations are public charities. Some are private Read More

To maximize their tax savings, construction business owners need to plan year-round. Strategic tax planning is about not only knowing which credits and deductions your company can claim, but also minding other important details. Here Read More

If you're looking to save for your child's or grandchild's education, you may have several options, including 529 plans, Coverdell education savings accounts (ESAs) and IRAs. But one of the best ways to invest for Read More

Manufacturers must comply with all relevant tax laws to avoid dire consequences. While the most attention is generally directed toward federal income and payroll taxes, there's another potential aspect to consider: state sales tax. The Read More

Financial statements are central to understanding any business. A public company's balance sheet, income statement and cash flow statement enable investors, lenders, the media and other stakeholders to value the company, forecast short- and long-term Read More

Proactive business owners always have an eye on the future. And part of that preparedness means knowing what the company is currently worth and doing everything possible to maximize that price. Operating in a sale-ready Read More

If you rent out a second home — or part of your main residence — you may be unclear about whether you need to pay self-employment (SE) tax on your net rental income. In fact, Read More

The accounting method you currently use for your small business may no longer be appropriate due to changes in market conditions or within your company. The IRS generally allows taxpayers to change their method, but Read More

The IRS has historically considered construction a high-risk compliance industry because of its potential for cash transactions, underreported income and worker misclassification. What's more, as the tax agency rolls into the future under new leadership, Read More