Congress has passed the Inflation Reduction Act (IRA) and President Biden signed it into law on August 16. The $740 billion law contains many tax breaks and rai...
Spotlight: The One Big Beautiful Bill Act
Learn how the One Big Beautiful Bill Act impacts businesses and accounting practices. Explore insights, resources, and expert analysis on this important legislation.
5 Common Billing Methods in the Construction Industry
Aug 18, 2022Your neighborhood ice cream shoppe no doubt operates under a simple fixed price, point-of-sale billing method. Construction companies don’t have it so eas...
How Will Inflation Affect Your 2023 Tax Bill?
Aug 18, 2022Inflation has been surging this year. The July 2022 consumer price index (CPI) was up 8.5% year over year, according to the latest data from the U.S. Bureau of ...
Valuing ESOPs
Aug 18, 2022Employee stock ownership plans (ESOPs) provide tax-saving opportunities for business owners who want to cash out and transfer ownership to employees without imm...
Hiding Places for Unprofitability in Your Business
Aug 17, 2022The business landscape has so many unexpected events and impossible-to-predict circumstances that metrics describing an organization’s financial health can se...
How Small Businesses Can Deflate Their Inflation Risks
Aug 16, 2022From soaring gas and food prices to hikes in rent, the signs of inflation are popping up everywhere. The latest Consumer Price Index Report (CPI) showed that be...
Avoiding Nonprofit Tax Traps
Aug 04, 2022If your organization has met the IRS qualifications to be considered tax-exempt, the income you receive — such as donor contributions — is exempt from feder...
How Manufacturing Companies Can Benefit from the Section 179 Expensing Deduction
Aug 04, 2022Does your manufacturing company need to acquire new equipment to meet demand? Fortunately, there’s a tax break that can help: the Section 179 deduction. I...
Do Your ESG Initiatives Open the Door to Fraud?
Aug 04, 2022Within a relatively short period, corporate environmental, social, and governance (ESG) initiatives evolved from a disjointed and confusing set of goals to a mo...
How to Use the Cost Approach to Valuing a Business
Jul 20, 2022The balance sheet — which shows a company’s assets and liabilities — is a logical starting point for valuing certain types of businesses. The cost (or...