How External Auditors Can Leverage Your Internal Audit Work
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…
- Kirsch CPA Group
- Apr 26, 2023
New SECURE 2.0 Act Boosts 401(k) Benefits
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…
- Kirsch CPA Group
- Apr 25, 2023
Measuring Fair Value for Financial Reporting Purposes
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…
- Kirsch CPA Group
- Apr 12, 2023
IRS Issues Guidance for Manufacturers on New Semiconductor Tax Credit
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…
- Kirsch CPA Group
- Apr 12, 2023
Supreme Court Rejects Claim for Exemption from Overtime Pay
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…
- Kirsch CPA Group
- Apr 11, 2023
Beefing Up Benefits May Save Tax Dollars for Construction Businesses
Construction companies continue to find themselves embroiled in a protracted battle for skilled labor. One fundamental way to recruit the best talent and retain valued employees is by offering competitive compensation and benefits. Let's focus…
- Kirsch CPA Group
- Apr 10, 2023
Understanding Business Valuation & Finding the Right Buyer
For growth-minded business owners, a valuation is one of the most important financial tools available as it will help you understand what someone might be willing to pay for your business. Here’s a look at…
- Nick Roell
- Mar 30, 2023
Deducting Business Meal and Entertainment Expenses
The federal income tax treatment of business-related meal and entertainment expenses has been a moving target the last few years. If you're confused about what rules currently apply, you're not alone. Here's a refresher on…
- Kirsch CPA Group
- Mar 28, 2023
How Much FDIC Coverage Do You Have?
In early March, Silicon Valley Bank (SVB) and Signature Bank unexpectedly collapsed. They became the second and third largest bank failures in U.S. history, respectively. The largest collapse involved Washington Mutual in 2008, precipitating the…
- Kirsch CPA Group
- Mar 27, 2023
Fraud Alert: Scammers are requesting account changes
The banking industry is reporting a significant increase in account fraud. A high number of instances are being reported where scammers reach out to businesses via email posing as a client or vendors informing them…
- Pete Abner
- Mar 17, 2023