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Achieving the right balance of working capital

Do you know the three keys to lowering your company’s working capital requirements?

Questions you may still have after filing your tax return

Even if you filed your 2022 tax return by the deadline, you may still have questions. We’re often asked about refund status, how long to keep records and when an amended tax return should be filed. Here are some answers.

4 ways corporate business owners can help ensure their compensation is “reasonable”

C corporation owners: To keep your compensation tax deductible, you need to ensure it’s “reasonable.” Otherwise, it could be deemed a dividend. Here are four steps to take.

New Business Ownership Reporting in 2024

Starting in 2024 (or 2023 for newly formed entities), corporations, limited liability companies (LLCs), limited partnerships, and other entities that file formation papers with a state’s Secretary of State’s office (or similar government agency) must file a report with the Financial Crimes Enforcement Network (FinCEN) of the U.S. Treasury Department providing specified information regarding the entity’s “beneficial owners.”

There’s a favorable “stepped-up basis” if you inherit property

If you’ve inherited assets or you’re planning your estate, it’s crucial to understand the “step-up” basis rules.

Retirement saving options for your small business: Keep it simple

If you’re a small business owner, you may be reluctant to set up a retirement plan because of the administrative burdens. Here are two options to consider that have far fewer requirements than traditional qualified retirement plans.

Nonprofits: 4 ratios worth watching

What if we told you that only four ratios mattered when it came to managing your nonprofit? OK, that would be an exaggeration. But there are four measures that generally matter more than the rest.

Choosing an entity for your business? How about an S corporation?

There are several choices of entities for a new business venture. What about an S corporation? Here are the advantages.

Close-up on sources of substantive audit evidence

What types of information and procedures do auditors use to verify account balances and transactions? Anticipating document requests and inquiries can help make your next audit more efficient.

Insights

Advantages of keeping your business separate from its real estate

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It may be advantageous to separate ownership of a business’s real estate from the business. But it isn’t always advisable. Here’s a look at the issues. Continue Reading Advantages of keeping your business separate from its real estate

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Cutoffs: When to report revenue and expenses

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Does your company follow the cutoff rules? Loose interpretation of the accounting rules can lead to errors and unexpected audit adjustments. Here’s how to get it right. Continue Reading Cutoffs: When to report revenue and expenses

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Help ensure your partnership or LLC complies with tax law

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Guaranteed payments to partners and payments to retired partners are just two of the tax issues that should be addressed in your partnership (or LLC operating) agreement. Here are the details. Continue Reading Help ensure your partnership or LLC complies with tax law

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