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

 

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

 

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

 

Tax reform has opened the door for more companies to use the simpler cash method of accounting. Small businesses tend to convert to accrual-basis reporting vs. cash for federal tax purposes. While simpler is often …Read More

 

Too often, businesses allocate all or most of a building’s acquisition or construction costs to real property, overlooking opportunities to allocate costs to shorter-lived personal property or land improvements and boost current tax deductions. The …Read More

 

The Tax Cuts and Jobs Act has narrowed the range of who can claim the home office deduction. But certain business owners and self-employed taxpayers may still be eligible depending on how you use your …Read More

 

How To Document Business Expenses

Some common deductions for businesses are meal, vehicle and travel expenses. But if you don’t properly document these expenses, you could find your deductions denied by the IRS. Is your business properly documenting them? A critical …Read More

 

Evaluating the Best Entity Choices Post-TCJA

The TCJA’s new, flat 21% income tax rate for C corporations may make choosing C corp structure for your business seem like a no-brainer. After all, 21% is much lower than the 37% top rate …Read More

 

Could these 2 Law Changes have an Impact on your Business’s 401(k) Plan?

Confused about how the new tax law changes may affect you?  If your business sponsors a 401(k) plan for its employees, it’s crucial to keep up with tax developments in case it affects your plans …Read More