Author: Kirsch CPA Group

The Inflation Reduction Act (IRA), enacted in late 2022, provides valuable tax credits that support clean energy manufacturing. Significantly, the law created the Advanced Manufacturing Project Tax Credit (45X MPTC), which is an incentive for Read More

Do you have an idea for a new venture with social benefits or environmental applications? You can set up as a for-profit entity — such as a C corporation, S corporation or limited liability company Read More

Fraud perpetrated by employees, management, vendors or customers can happen to any business. And if it does, it can take years to recover from the financial losses and reputational damage. In some cases — especially Read More

Small business owners often have accounting questions and financial advisory needs that don’t always occur at regular intervals or around tax time. Opportunities to grow your business crop up with a little warning. How does Read More

The statute of limitations for the IRS to audit your tax return is typically three years. It begins on the later of: 1) the due date for your tax return or 2) the date on Read More

If your organization has an internal audit function, you may be able to use your internal audit team to streamline financial reporting by external auditors. External auditors aren't required to use internal auditors in any Read More

The 401(k) plan is the most popular employer-sponsored retirement plan in the United States. As of September 30, 2022, more than $6.3 trillion in assets were held in 401(k) accounts by more than 60 million Read More

Fair market value is the appropriate standard of value in most business valuation assignments. But when valuing an asset for financial reporting purposes, fair value is generally used. Here's an overview of what fair value Read More

The IRS has released proposed regulations that provide guidance for manufacturers on the implementation of the Advanced Manufacturing Investment Credit. The credit, created by the Creating Helpful Incentives to Produce Semiconductors (CHIPS) Act, encourages manufacturers Read More

Employers and employees are often at odds over the issue of overtime pay. Naturally, employers are inclined to argue that an employee isn't entitled to overtime pay when it would boost the overall compensation that Read More