Post-M&A Financial Statements

M&A volume skyrocketed in 2018. However, before you close on a prospective deal, it’s important to consult with your auditor and make sure your post-M&A financial statements comply with U.S. Generally Accepted Accounting Principles. Prepare the

Tax Planning Exit Strategies for Business Owners

Your exit strategy may not be the first thing that comes to mind when thinking about tax planning for your business. But it should be a key element to look out for your own financial

Year-end Physical Inventory Counts

The end of the year is approaching and it's time to perform an effective inventory count. Beyond accounting compliance, a year-end physical inventory count can help reduce carrying costs and unearth fraud. Are you ready to

Consider these Last Minute Tax Moves for your Business

Even though tax planning is a year-round task, there is still time to take action on lowering your 2018 tax bill. Follow these last minute tax moves for your business: Postpone invoices. If your business

Key Deadlines for 2019 Quarter 1 Tax Calendar

Here are a few key tax-related deadlines for businesses during Q1 of 2019. This list isn't all-inclusive, so there may be additional deadlines that affect your business. Contact us if you have any questions about

IRS Update: New Changes to Form W-4

Following feedback from the payroll and tax communities, the Treasury Department and the IRS will incorporate important changes into a new version of the Form W-4, Employee’s Withholding Allowance Certificate, for 2020. The 2019 version

Auditing Accounts Payable in 4 Steps

Since a lot of money flows through accounts payable (AP), it is important to get it right! Auditors can help by using four key procedures on AP: reviewing standard operating procedures (SOPs), analyzing source documents (such as

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

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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

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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

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