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401(k) Loans: Yay or Nay?
In today's tough economy, you may find yourself struggling to cover your day-to-day expenses. But rising interest rates are making traditional loans more expensive. In such an environment, you might consider borrowing funds from your…
- Kirsch CPA Group
- Aug 31, 2022
What Do the New Lease Accounting Standards Mean for Your Business?
For private business owners who have been hearing about a proposed accounting change for lease accounting, a decade of back-burner speculation has come to an end. The new accounting standard, also known as “ASC 842,”…
- Jill Frieden
- Aug 31, 2022
SALT Cap Workaround Law Could Save Ohio Business Owners Over $100 Million
A new law that takes effect for tax year 2022 will enable some Ohio business owners to reduce their federal tax bills by avoiding the cap on state and local tax deductions imposed as part…
- Kirsch CPA Group
- Aug 31, 2022
New Guide: Are You Ready to Take Control of Your Profitability?
In our latest guide, Build a Better Business by the Numbers, we explore the common pitfalls of profitability and how to avoid the mistakes that will harm your bottom line. Understanding your profitability starts with…
- Kirsch CPA Group
- Aug 26, 2022
The Wide-Ranging Inflation Reduction Act Is Signed Into Law
Congress has passed the Inflation Reduction Act (IRA) and President Biden signed it into law on August 16. The $740 billion law contains many tax breaks and raises revenue through a new minimum tax on…
- Kirsch CPA Group
- Aug 18, 2022
5 Common Billing Methods in the Construction Industry
Your neighborhood ice cream shoppe no doubt operates under a simple fixed price, point-of-sale billing method. Construction companies don't have it so easy. Because of the project-based, decentralized nature of construction work, contractors need to…
- Kirsch CPA Group
- Aug 18, 2022
How Will Inflation Affect Your 2023 Tax Bill?
Inflation has been surging this year. The July 2022 consumer price index (CPI) was up 8.5% year over year, according to the latest data from the U.S. Bureau of Labor Statistics. The rate of inflation…
- Kirsch CPA Group
- Aug 18, 2022
Valuing ESOPs
Employee stock ownership plans (ESOPs) provide tax-saving opportunities for business owners who want to cash out and transfer ownership to employees without immediately giving up control of the business. However, valuing stock held by an…
- Kirsch CPA Group
- Aug 18, 2022
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,…
- Nick Roell
- 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%,…
- Katie Keller
- Aug 16, 2022
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