Footnote disclosures provide insight into account balances, accounting practices and potential risk factors. This information helps lenders, investors and other...
Why Footnote Disclosures Are Important
QBI Deduction: Use It or (Possibly) Lose It
Feb 26, 2024The qualified business income (QBI) deduction is available to eligible individuals through 2025. After that, it’s scheduled to disappear, unless Congress ...
Should Your Business Use GAAP Accounting?
Feb 22, 2024It’s easy to understand why lending institutions and investors often require financial statements that comply with the standards of generally accepted account...
An Overview of the Percentage of Completion Accounting Method for Construction Businesses
Feb 13, 2024In the complex and sometimes chaotic world of long-term construction projects, many contractors find themselves struggling to accurately align the revenue comin...
How Manufacturers Can Factor Depreciation Tax Breaks Into Their 2024 Asset Purchase Planning
Feb 12, 2024What’s the tax outlook when manufacturers purchase equipment and other tangible property, various tax breaks are available, including Section 179 expensin...
Dos and Don’ts for Business Expense Deductions
Feb 12, 2024As tax season heats up, companies of all kinds and sizes will be on the hunt for ways to reduce their tax bills. One of the most common ways is through business...
Factoring Industry Risk into the Business Valuation Equation
Feb 09, 2024There’s generally a trade-off between risk and return in business valuation. Investors expect to receive a higher return as a company exposes them to grea...
ERC Enforcement Could Leave Businesses at Risk for Audit and Penalties
Feb 05, 2024As the IRS ramps up efforts to address ineligible claims for COVID-related payroll relief, many small and midsize businesses who applied for funds under erroneo...
Should Your Business Elect to Pay Pass-Through Entity Taxes?
Jan 31, 2024With most states now offering entity level PTE taxes as a workaround for federal limits on deductions for state and local tax (SALT) payments for individuals, i...
Answers to Common Payroll Questions
Jan 30, 2024Understanding the payroll tax rules can be challenging when your company hires workers or the personal situations of existing employees change. Employers often ...