Does your Business Deduct Research & Development Expenses? Major Changes Impact 2022 Taxes…

The 2017 Tax Cuts and Jobs Act (TCJA) included a deferred provision that changes the way research and development (R&D) expenses are deducted for tax purposes beginning with the 2022 tax year. Prior to 2022,…


  • Elizabeth Michalak
  • Nov 09, 2022

Manufacturers Must Act Now to Maximize Depreciation-Related Tax Breaks for 2022

As the end of the year nears, manufacturers are looking to get the most tax bang for their buck. One proven method is to maximize tax breaks relating to depreciation. In some cases, your company…


  • Kirsch CPA Group
  • Nov 09, 2022

It’s Time for Businesses to Rethink Their Working Capital Practices

In today's uncertain marketplace, businesses are being forced to re-evaluate their working capital needs. Some managers have learned the hard way during the pandemic that operating "lean" has its limits.   What Is Working Capital?…


  • Kirsch CPA Group
  • Nov 09, 2022

How Can Small Business Owners Lower Taxes for 2022?

It's time for year-end tax planning. Every fall, small business owners should review their tax situations to determine steps they should consider to reduce their federal income taxes for the current year — and beyond.…


  • Kirsch CPA Group
  • Oct 27, 2022

Employers: Beware of Improper Employee Retention Credit Claims

The IRS is warning employers to beware of third parties who are advising them to claim the Employee Retention Credit (ERC) when they may not qualify. Some third parties are taking improper positions related to…


  • Kirsch CPA Group
  • Oct 27, 2022

Social Security Wage Base and Earnings Test Amounts Increase in 2023

The Social Security Administration (SSA) recently announced that the "wage base" for computing Social Security tax will increase for 2023 to $160,200. This is up from $147,000 for 2022. Federal law limits the amount of…


  • Kirsch CPA Group
  • Oct 27, 2022

What a Business Valuation Is – and Isn’t

When an entire specialty has been built around a single business metric, it suggests a great need in the marketplace. But a need for what, exactly? “Business valuation” sounds like a straightforward concept, but in…


  • Kirsch CPA Group
  • Oct 19, 2022

Why Have Your Financial Statements Reviewed (Even When Not Required)

Reviewed financial statements can increase the value of your business and serve you in a multitude of ways Business owners typically field requests for reviewed financial statements for a specific purpose. Whether the requests come…


  • Kirsch CPA Group
  • Oct 17, 2022

8 End-of-Year Tax Planning Strategies for 2022

As the economy marches through the final months of 2022, business owners will face ongoing changes this tax season. Even so, there is still time to take steps to reduce your tax burden. With the…


  • Sue Schloemer
  • Oct 13, 2022

New Law Enhances Payroll Tax Break for Small Manufacturers’ Research Expenses

  Is your manufacturing company on the cutting edge? It's important to keep pace with the competition, especially if you're trying to carve out a niche in a new marketplace. Fortunately, federal tax law allows…


  • Kirsch CPA Group
  • Oct 13, 2022

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