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...
Jul 11, 2022 | Accounting, Advisory, Agriculture, Beer, Blog, Cider, Closely Held Businesses, Manufacturing, Startup Business, Tax, Wine
When it comes to minimizing the amount paid in taxes, small and medium business owners do not always know all the options available to their businesses. If you own a small or medium business, it may be eligible for some significant tax breaks that are not...
Jun 27, 2022 | Accounting, Advisory, Blog, Closely Held Businesses, Manufacturing, Startup Business, Tax
First-year bonus depreciation typically creates a powerful tax incentive for eligible manufacturers to purchase qualified property needed for business reasons. These tax write-offs can benefit a manufacturer’s cash flow, but claiming them is not always the best...
