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How Will Revised Tax Limits Affect Your 2022 Taxes?

While Congress didn’t pass the Build Back Better Act in 2021, there are still tax changes that may affect your tax situation for this year.

Businesses with Employees Who Receive Tips May Be Eligible for a Tax Credit

Are you an employer who owns a business where tipping is customary for providing food and beverages? You may qualify for a valuable tax credit involving the Social Security and Medicare (FICA) taxes that you pay on your employees’ tip income.

Reporting and Managing Inventory

When reviewing your company’s inventory practices, start by evaluating whether you’re using the right accounting method.

Defer Tax with a Like-Kind Exchange

Do you want to sell commercial or investment real estate that has appreciated significantly?
KPIs: What are they, and which ones count?

KPIs: What Are They, and Which Ones Count?

Key performance indicators (KPIs) are the keys to operating a successful business, especially during times of uncertainty.

Will the Standard Business Mileage Rate Go Up in 2022? Yes!

The optional standard mileage rate used to calculate the deductible cost of operating an automobile for business will be going up in 2022 by 2.5 cents per mile.

How to Account for Change Orders

When customers make last-minute changes to contracts, it can be frustrating, and the accounting rules for reporting change orders can be complex.

2022 Q1 Tax Calendar: Key Deadlines for Businesses and Other Employers

Here are a few key tax-related deadlines for businesses during Q1 of 2022.

Digitizing the Accounts Receivable Process

While digitalization continues to take hold of the business world, the billing and collections functions at many organizations remain largely paper based.

Insights

Growing your business with a new partner: Here are some tax considerations

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If you’re adding a new partner to your partnership, you may think the tough part is over once you find the right person. But there could be complex tax issues to consider. Continue Reading Growing your business with a new partner: Here are some tax considerations

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The pros and cons of turning your home into a rental

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Home selling (and buying) season is heating up. At the same time, rents are high in many parts of the country. What are the tax implications if you buy another home but decide to keep your current home and rent it out? Continue Reading The pros and cons of turning your home into a rental

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Getting a handle on inventory

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For retailers, manufacturers and many other businesses, a significant amount of working capital is tied up in inventory. What can your company do to lower its inventory carrying costs? Continue Reading Getting a handle on inventory

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Getting a handle on inventory

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