The general rule for retaining federal tax records is three years. That’s because the statute of limitations for the IRS to audit your tax return is typic...
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.
Spring Cleaning Your Personal Tax Files
7 Midyear Tax-Reduction Strategies for Manufacturers
May 12, 2022As the midpoint of the year fast approaches, it’s a good time for manufacturers to assess their tax status and plan appropriate strategies for reducing th...
Ensure Your Construction Accounting System Has the Right Features
May 12, 2022Construction accounting is distinctively complex. Unlike other businesses that rely heavily on a general ledger to track finances, construction companies need t...
Hiring Workers This Summer and Beyond
May 12, 2022In today’s tight labor market, small businesses — including restaurants, delivery services, retail stores and manufacturers — are struggling to attrac...
Want to Grow in 2022 But Don’t Have a Plan?
Apr 28, 2022Growing your business might seem like a perfectly obvious thing to have on your 2022 to-do list, but not all businesses approach a new year with a written growt...
Should You Separate Your Business from Its Real Estate?
Apr 28, 2022Businesses that need real estate to conduct operations, or otherwise hold property, traditionally have put the title to the property in the name of the business...
3 Ways to Facilitate Your Strategic Growth Planning
Apr 25, 2022When you’re ready to take your business to next-level growth, you need a strategic plan for getting there and for evaluating the opportunities to do so. Your ...
Evaluating Key Performance Indicators
Apr 14, 2022How would you feel about taking a cross-country road trip without knowing the amount of gas in your tank, your engine’s temperature, or your oil pressure?...
Preparing Form 990: Pay Attention to These Eight Items
Apr 14, 2022If your not-for-profit organization operates on a calendar-year tax basis, the deadline for filing your 2021 Form 990 (Form 990 EZ for certain small organizati...
How Fringe Benefits for S Corporation Owners Are Taxed
Apr 14, 2022In general, the value of statutory fringe benefits paid to employees is exempt from federal income tax. But special rules apply to S corporation shareholders wh...