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7 Areas of Form 990 Audit Scrutiny
The IRS can initiate an audit of your nonprofit organization for any number of reasons. But one of the most common is a red flag sent up by your annual filing of Form 990, "Return…
- Kirsch CPA Group
- Sep 10, 2024
Tax-Smart Way to Hold Investment Real Estate
Real estate can be an attractive long-term investment. But the legal entity you select to own property can have important tax implications. Here's why single-member limited liability companies (SMLLCs) are generally a better alternative than…
- Kirsch CPA Group
- Sep 04, 2024
What You Can Do About Workers’ Comp Fraud
Workers' compensation insurance can provide medical care and financial assistance to employees who are injured or incapacitated at work. However, this important benefit is also subject to fraud perpetrated by dishonest workers. The Coalition Against…
- Kirsch CPA Group
- Sep 03, 2024
What Contractors Should Know About the IRA’s PWA Requirements
In June 2024, the IRS released final regulations addressing the prevailing wage and apprenticeship (PWA) requirements for increased clean energy tax deduction or credit amounts. These tax breaks were made available under the Inflation Reduction…
- Kirsch CPA Group
- Sep 03, 2024
Roth 401(k) Plans Have New Appeal for Employers
The traditional 401(k) plan is the most popular qualified retirement plan in the United States. As of March 31, 2024, Americans held $7.8 trillion dollars in 401(k) plans (out of a total $11.1 trillion invested…
- Kirsch CPA Group
- Aug 29, 2024
How To Choose the Best Inventory Accounting Method for Your Manufacturing Company
Your choice of accounting method for determining the value of your manufacturing company's inventory can significantly impact your overall tax bill. Here are answers to some key questions regarding the tax and financial implications of…
- Kirsch CPA Group
- Aug 26, 2024
Avoiding the Mistakes Manufacturing Growth Can Hide
Running a successful manufacturing business requires so many things to go right, from navigating hiring shortages and global supply chain logistics to market forecasting and the challenges of digital transformation. When your business is growing,…
- Nick Roell
- Aug 21, 2024
Business Owners: Failure to Substantiate Donations Can Be Costly
Charitable donations can provide businesses with significant tax savings. But for gifts over a certain amount, they must obtain a contemporaneous written acknowledgement of their donations to qualify for a charitable contribution deduction. Failing to…
- Kirsch CPA Group
- Aug 19, 2024
Don’t Overlook the Extra Medicare Payroll Tax
Federal payroll taxes are a necessary evil for both employers and employees. Under the Federal Insurance Contributions Act (FICA), employees must pay Social Security and Medicare taxes. For their part, employers must withhold the tax…
- Kirsch CPA Group
- Aug 15, 2024
Cash Flow Management for Construction Businesses
Construction companies have always faced challenges when it comes to cash flow. The difficulty largely springs from the often-lengthy gaps between winning projects, doing the work and receiving payments. As a result, it's critical for…
- Kirsch CPA Group
- Aug 07, 2024
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