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How Manufacturers Can Factor Depreciation Tax Breaks Into Their 2024 Asset Purchase Planning
What's the tax outlook when manufacturers purchase equipment and other tangible property, various tax breaks are available, including Section 179 expensing and first-year bonus depreciation. For 2024, bonus depreciation has dropped another 20 percentage points…
- Kirsch CPA Group
- Feb 12, 2024
Dos and Don’ts for Business Expense Deductions
As tax season heats up, companies of all kinds and sizes will be on the hunt for ways to reduce their tax bills. One of the most common ways is through business expense deductions, but…
- Kirsch CPA Group
- Feb 12, 2024
Factoring Industry Risk into the Business Valuation Equation
There's generally a trade-off between risk and return in business valuation. Investors expect to receive a higher return as a company exposes them to greater risk. Industry-specific risk is an important consideration when estimating an…
- Kirsch CPA Group
- Feb 09, 2024
ERC Enforcement Could Leave Businesses at Risk for Audit and Penalties
As the IRS ramps up efforts to address ineligible claims for COVID-related payroll relief, many small and midsize businesses who applied for funds under erroneous or narrow criteria could face an increased risk of audits…
- Sue Schloemer
- Feb 05, 2024
Should Your Business Elect to Pay Pass-Through Entity Taxes?
With most states now offering entity level PTE taxes as a workaround for federal limits on deductions for state and local tax (SALT) payments for individuals, it’s a good time to review whether you should…
- Sue Schloemer
- Jan 31, 2024
Answers to Common Payroll Questions
Understanding the payroll tax rules can be challenging when your company hires workers or the personal situations of existing employees change. Employers often have questions about their shifting recordkeeping and withholding requirements. Here are some…
- Kirsch CPA Group
- Jan 30, 2024
7 Tasks For a Successful Nonprofit Finance Committee
A nonprofit's finance committee oversees and keeps its board of directors apprised of the organization's overall financial health. This should be more than simply scanning financial reports. An active finance committee is crucial to maintain…
- Kirsch CPA Group
- Jan 29, 2024
Annual Action Required for Schedules K-2 and K-3
The IRS released two new schedules in recent years, Schedules K-2 and K-3. These new schedules are an expanded reporting requirement intended to provide more clarity and transparency for partners and shareholders of pass-through entities…
- Sue Schloemer
- Jan 17, 2024
New Voluntary Disclosure Program for Employers that Filed Dubious ERC Claims
As part of its continuing fight against questionable Employee Retention Credit (ERC) claims, the IRS recently announced a voluntary disclosure program for employers. Under the program, businesses can "pay back the money they received after…
- Kirsch CPA Group
- Jan 16, 2024
Change Order Management: Best Practices for Construction Businesses
As you know, change orders are an inherent part of the construction industry. Alterations to the original design, specifications, execution methods or scope of a job can impact the budget and timeline. And when not…
- Kirsch CPA Group
- Jan 16, 2024
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