May 1, 2023 | Accounting, Advisory, Audit, Blog
Small and medium-sized companies are particularly prone to employee theft because they typically do not have the staff available to assign more than one employee to processes to help ensure that fraud does not take place. Assigning more than one employee to certain...
Jan 30, 2023 | Accounting, Advisory, Blog, SBA
How inventory is accounted for can have a significant impact on your tax bill if your business involves the production, purchase, or sale of products. In some cases — particularly during periods of high inflation and stable inventory levels — adopting the last-in,...
Oct 17, 2022 | Accounting, Advisory, Blog, Nonprofit, Tax
If your organization has met the IRS qualifications to be considered tax-exempt, the income you receive — such as donor contributions — is exempt from federal income tax. However, it is still possible for nonprofits to follow the rules and experience adverse tax...
Sep 12, 2022 | Accounting, Advisory, Blog, Business Valuation
You cannot physically touch goodwill, but it is a significantly valuable asset for many businesses. Although it is most commonly associated with professional service firms, goodwill can also exist among manufacturers, retailers, contractors, and other types of...
Aug 8, 2022 | Accounting, Advisory, Blog, Estate Planning, Tax
The 2022 tax year is well underway, and year end will be here before you know it. Now is a good time to take proactive steps to help reduce the current year’s tax bill. Here are some federal tax-planning strategies to consider. Managing Gains and Losses in...
Jul 18, 2022 | Accounting, Advisory, Blog, Mergers and Acquisitions, Startup Business
Purchase price allocations are an important part of negotiating a successful M&A transaction. The value of most assets — such as receivables, inventory, and equipment — may be fairly straightforward. But the value of noncompete agreements is often a sticking...
