7 Midyear Tax-reduction Strategies for Manufacturers
As 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 their 2022 tax liability. Although […]
Category: Articles
Highlights From the Latest ACFE Fraud Report
Preventing, detecting, and investigating occupational fraud requires a deep understanding of the types of schemes, potential financial losses, emerging threats and risk mitigation strategies. To that end, the Association of […]
Inflation Enhances the 2023 Amounts for Health Savings Accounts
The IRS recently released guidance providing the 2023 inflation-adjusted amounts for Health Savings Accounts (HSA). High inflation rates will result in next year’s amounts being increased more than they have […]
Businesses May Receive Notices About Information Returns that Don’t Match IRS Records
The IRS has begun mailing notices to businesses, financial institutions and other payers that filed information returns with information that doesn’t match the agency’s records. These CP2100 and CP2100A notices […]
Ohio 2022 Sales Tax Holiday
The state of Ohio will have its annual back-to-school sales tax holiday from Friday, August 5th, 2022 at 12:00 am until Sunday, August 7th, 2022 at 11:59 pm. The sales […]
What Charitable Givers Need to Know About Taxes
Although most charitable donors aren’t primarily motivated by potential tax breaks, they still need to know how donations affect their taxes. It’s important for your not-for-profit to educate them on […]
A Segmented Income Statement Can Be a Powerful Tool for Manufacturers
A companywide income statement may be sufficient for lenders or other outsiders to evaluate your manufacturing company’s financial performance. But from management’s perspective, a segmented income statement can provide valuable […]
How to Qualify for, and Keep, Cyber Insurance Coverage
These days, it’s common for businesses to purchase cyber insurance to help mitigate financial losses from network breaches. According to the U.S. Government Accountability Office, the proportion of businesses adding […]
Tax Mechanics Involved in the Sale of Trade or Business Property
What are the tax consequences of selling property used in your trade or business? There are many rules that can potentially apply to the sale of business property. Thus, to […]
Making Your Return to In-Person Fundraising Successful
It’s been a long two years. But many not-for-profits are starting to plan in-person galas and other special fundraising events for this coming summer and autumn. If your organization is […]
Taking a Red Pen to Make Financial Adjustments for Valuation Purposes
Financial statements are an important source of data for valuing a business. But they tell only part of the story. An accurate business valuation hinges on a comprehensive understanding of […]
Tax Considerations When Adding a New Partner to Your Business
Adding a new partner to a partnership has several financial and legal implications. Let’s say you and your partners are planning to admit a new partner. The new partner will […]
