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…

  • Kirsch CPA Group
  • 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…

  • Kirsch CPA Group
  • 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…

  • Kirsch CPA Group
  • 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…

  • Kirsch CPA Group
  • 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…

  • Kirsch CPA Group
  • 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…

  • Kirsch CPA Group
  • Jul 20, 2022
Ohio Bureau of Workers Compensation (BWC)

BWC Audits: Should I Be Worried?

Each year the Ohio Bureau of Workers Compensation (BWC) randomly selects employers to audit to verify that employers are properly classified according to their business operations and to make sure payrolls are accurately reported with…

  • Deb Weber
  • Jul 19, 2022

What Level of Audit & Assurance Services Are Right for Your Business?

Putting your business financials and processes under the microscope can be an intensive process. At the same time, the benefits of your financials undergoing such scrutiny are hard to overestimate. The revelation of even a…

  • Janis Bergeron
  • Jul 11, 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…

  • Kirsch CPA Group
  • 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…

  • Kirsch CPA Group
  • Jul 07, 2022
Kirsch CPA Next Level Accounting Guide Download the Guide

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