The IRS recently announced many inflation adjustments for the 2023 tax year. IRS Revenue Procedure 2022-38 provides details about these amounts. Because inflat...
Does your Business Deduct Research & Development Expenses? Major Changes Impact 2022 Taxes…
Nov 09, 2022The 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 purpos...
Manufacturers Must Act Now to Maximize Depreciation-Related Tax Breaks for 2022
Nov 09, 2022As 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 depreci...
It’s Time for Businesses to Rethink Their Working Capital Practices
Nov 09, 2022In today’s uncertain marketplace, businesses are being forced to re-evaluate their working capital needs. Some managers have learned the hard way during t...
How Can Small Business Owners Lower Taxes for 2022?
Oct 27, 2022It’s time for year-end tax planning. Every fall, small business owners should review their tax situations to determine steps they should consider to reduc...
Employers: Beware of Improper Employee Retention Credit Claims
Oct 27, 2022The 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...
Social Security Wage Base and Earnings Test Amounts Increase in 2023
Oct 27, 2022The Social Security Administration (SSA) recently announced that the “wage base” for computing Social Security tax will increase for 2023 to $160,20...
What a Business Valuation Is – and Isn’t
Oct 19, 2022When 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 ...
Why Have Your Financial Statements Reviewed (Even When Not Required)
Oct 17, 2022Reviewed financial statements can increase the value of your business and serve you in a multitude of ways Business owners typically field requests for reviewed...
8 End-of-Year Tax Planning Strategies for 2022
Oct 13, 2022As 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 t...