Hiding Places for Unprofitability in Your Business
The business landscape has so many unexpected events and impossible-to-predict circumstances that metrics describing an organization’s financial health can seem relatively straightforward by comparison. It’s money in and money out, for the most part. However, Read More
Aug 17, 2022
How Small Businesses Can Deflate Their Inflation Risks
From soaring gas and food prices to hikes in rent, the signs of inflation are popping up everywhere. The latest Consumer Price Index Report (CPI) showed that between June 2021 and 2022, inflation rose 9.1%, Read More
Aug 16, 2022
Avoiding Nonprofit Tax Traps
If your organization has met the IRS qualifications to be considered tax-exempt, the income you receive — such as donor contributions — is exempt from federal income tax. However, it's still possible for not-for-profits to Read More
Aug 04, 2022
How Manufacturing Companies Can Benefit from the Section 179 Expensing Deduction
Does your manufacturing company need to acquire new equipment to meet demand? Fortunately, there's a tax break that can help: the Section 179 deduction. It allows you to deduct this year the cost of qualifying Read More
Aug 04, 2022
Do Your ESG Initiatives Open the Door to Fraud?
Within a relatively short period, corporate environmental, social, and governance (ESG) initiatives evolved from a disjointed and confusing set of goals to a more unified business imperative. This is largely because investors, employees, customers and Read More
Aug 04, 2022
How to Use the Cost Approach to Valuing a Business
The balance sheet — which shows a company's assets and liabilities — is a logical starting point for valuing certain types of businesses. The cost (or asset) approach specifically focuses on this part of a Read More
Jul 20, 2022
Hiring Family Members Can Pay Off for Everyone
One of the advantages of owning and operating your own business is the ability to hire family members to fill open positions. This can be a significant perk in today's tight labor market. Bringing on Read More
Jul 20, 2022
Reviewing Revenue Recognition for Construction Companies
While many businesses handle sales in a single transaction, construction contracts often cover months or even years and include multiple payments. As you're well aware, the longer-term nature of construction projects can prevent contractors from Read More
Jul 20, 2022
Should You Transfer Your Home to Your Adult Child?
Buying a house in today's overheated real estate market can be challenging — especially as mortgage rates are on the rise. But financially secure parents who are considering downsizing or relocating to greener pastures may Read More
Jul 07, 2022
Oops … Do You Need to Amend Your Tax Return?
The COVID pandemic prompted numerous temporary changes to the tax laws for 2020 and 2021. From Economic Impact Payments, penalty-free IRA distributions and the expanded child tax credit to Employee Retention Credits and credits for Read More
Jul 07, 2022