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So far Froehling Anderson has created 50 blog entries.

The Importance of Revenue in an Audit

Though balance sheet accounts are the customary focus of auditors, revenue is a key income statement account. And it may steal the spotlight in the coming audit season. Contact us to help ensure your company

TCJA Update: Is your Business Eligible for the Cash Method?

The Tax Cuts and Jobs Act expanded the eligibility of the cash method for businesses. Usually, if a business’s receivables exceed its payables, the cash method of accounting will allow more income to be deferred

Urgent W-2 and 1099 Filings Notice

There is a major change regarding W-2 and 1099 filings. In 2018, the IRS issued regulations that virtually eliminated the ability to ask for an extension to file these forms. This change means you must

Understanding the IRS and Tax Filing Claims

Paying your taxes is serious—and the government wants you to know it. For the first time in years, Minnesota and Wisconsin now have a permanent director in the U.S. Attorney’s office dedicated to fighting tax

There’s Still Time to Reduce your 2018 Tax Liability

Investing in business assets is a traditional and powerful year-end tax planning strategy, and it might make even more sense in 2018. Sec. 179 expensing and bonus depreciation both allow an immediate deduction for the

TCJA Provisions: Research Credit May Be Available

If your company engages in qualified research activities, revisit the research credit to be sure you’re taking full advantage of its benefits. Changes under the TCJA could make the credit more valuable and/or available for

Identifying Hidden Liabilities

From bad debts to pending lawsuits, a company’s financial statements may not disclose everything stakeholders need to know to assess its financial health. What’s undisclosed on a company’s financial statements can be just as significant

Conducting Risk Assessments

Your auditor conducts an updated risk assessment every year when preparing financial statements. Learn how CPAs factor risk assessments into their audit procedures. 3-Prong Assessment Audit risk is a combination of three components: Control risk.

That Time of the Year to Review your Business’s Expenses

It's getting to be that time of the year to review your business's expenses for deductibility. The deductibility of certain expenses is obvious, while in other cases it’s unclear. And the TCJA affects many business

Financial Reporting Issues With Audit Opinions

Lenders and investors look to your company’s audit opinion letter for insight. They know which types of audit opinions tend to foreshadow financial reporting and going-concern issues. Do you? The Basics To find out what

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