Category: Newsletters

When you’re growing a construction business, the accounting challenges are built in. From compliance issues to job costing to handling certified wages, construction businesses need accounting support from a CPA firm who understands the unique Read More

Ohio's Commercial Activity Tax (CAT) has undergone significant changes for 2024 and 2025, reducing the tax burden for many small businesses. Here's a brief update on the CAT tax changes:   Increased exclusion thresholds: 2024: Read More

The Republicans will soon control the White House and both chambers of Congress, which will likely open the door for major tax legislation next year. Here are some thoughts on how this power shift could Read More

The Corporate Transparency Act (CTA) was passed in 2021 and created a new mandate for beneficial ownership information (BOI) reporting to the Financial Crimes Enforcement Network (FinCEN) starting in 2024. This legislation aims to combat Read More

Work in process (WIP) is a common term in manufacturing, often tossed around loosely. WIP is sometimes used interchangeably with "work in progress." However, WIP has a specific meaning in an accounting context. While work Read More

With year end rapidly approaching, many business owners are focusing on budgeting and strategic planning for 2025. But you shouldn't overlook last-minute opportunities to cut taxes for 2024. Here are some tax-smart moves for businesses Read More

Businesses structured as partnerships, S corporations or limited liability companies generally aren't subject to the federal corporate income tax. This is because tax liability "passes through" such entities to each business partner's individual level. If Read More

The IRS has published final regulations for the Section 45X advanced manufacturing production credit. The final regs update several significant areas from the proposed regs released in late 2023.   The Credit in a Nutshell Read More

Depending on the nature of your not-for-profit organization, there's more than one accounting method to follow. One option is fund accounting, which promotes transparency and can help nonprofits fulfill donor commitments. Fund accounting involves segregating Read More

Internal Revenue Code Section 179 potentially allows significant first-year depreciation deductions when your business places qualifying assets into service. You generally want to maximize current year depreciation write-offs for newly acquired business assets. However, the Read More