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Overcome Profitability Challenges in Professional Services

Profitability can be a difficult metric to measure in any industry, but owners of professional services businesses face an added challenge: underestimating the cost of uncompensated time. Time as a Product In professional services businesses,…

  • Nick Roell
  • Oct 29, 2024

Manufacturers: How Vulnerable Are You to Fraud?

Fraud is a significant problem for all businesses, but the manufacturing industry is particularly vulnerable. According to the Association of Certified Fraud Examiners (ACFE), manufacturing is among the industries with the highest number of reported…

  • Kirsch CPA Group
  • Oct 25, 2024

Employee Retention Tax Credit Update for Construction Companies

When the pandemic hit in 2020, the Employee Retention Tax Credit (ERTC) was introduced under the CARES Act. Federal government officials and lawmakers created the credit to help employers keep employees on their payrolls as…

  • Kirsch CPA Group
  • Oct 23, 2024

Manufacturers: Implement Year-End Tax Planning Strategies Now to Reduce Your 2024 Tax Bill

As the year draws to a close, it's generally manufacturers' last chance to implement strategies to reduce their 2024 tax liability. Several provisions of the Tax Cuts and Jobs Act (TCJA) can still provide substantial…

  • Kirsch CPA Group
  • Oct 14, 2024

Don’t Let Profit Fade Impact Your Construction Firm’s Annual Results

A gradual decline in expected gross profits over the course of a project is known as "profit fade." It not only undermines the financial performance of construction companies, but also may raise red flags with…

  • Kirsch CPA Group
  • Oct 14, 2024

5 Ways for Your Nonprofit to Weather Economic Uncertainty

No one can predict with certainty where the U.S. economy will be at the end of 2024 or in 2025. The presidential election, interest rates, inflation, overseas conflicts and the recent stock market performance all…

  • Kirsch CPA Group
  • Oct 11, 2024

IRS Targets Partnership Tax-Reduction Tactic

The IRS recently announced the launch of a new multistage regulatory initiative intended to close what it calls a "major tax loophole exploited by large, complex partnerships." The IRS's actions are prompted by its belief…

  • Kirsch CPA Group
  • Oct 01, 2024

Why Strategic Planning and Succession Planning Should Always Go Together

Some small to midsize businesses engage in regular strategic planning, others let it fall by the wayside and adhere to a more "fly by the seat of our pants" ethos. You probably wouldn't be surprised…

  • Kirsch CPA Group
  • Oct 01, 2024

How a Budget Can Contribute to Your Success

One reason many people disdain the budgeting process is that they associate budgets with restraint — that is, not spending money for something because it's not in the budget. However, if you're calling the shots,…

  • Kirsch CPA Group
  • Sep 30, 2024

When Employee Awards and Gifts Are Tax Deductible

Let's say your company wants to commemorate the long career of a retiring employee instrumental in its success. It hosts an evening celebration that culminates with the presentation of a plaque and an expensive gift.…

  • Kirsch CPA Group
  • Sep 26, 2024
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