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 …Read More

 

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 …Read More

 

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 …Read More

 

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 …Read More

 

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 …Read More

 

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 …Read More

 

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. …Read More

 

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 …Read More

 

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 …Read More

 

Who’s monitoring your licenses? Whether due to error or fraud, underpayments may happen when your company licenses intellectual property to others. An external audit can ensure accurate royalty payments. The agreement The parties’ attorneys usually …Read More