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Cash vs. accrual accounting: What’s the difference?

Is your business using the optimal method of accounting? What’s right depends on your company’s size, level of sophistication and other key factors.

Tax-wise ways to take cash from your corporation while avoiding dividend treatment

As you may know, dividends paid out by a corporation are taxable to shareholders and can’t be deducted by the business. But there may be ways to get cash out of your closely held corporation without dividend treatment.

9 tax considerations if you’re starting a business as a sole proprietor

Many new ventures start out as sole proprietorships. Here are nine considerations if you’re operating a business that way.

Auditing revenue recognition

Many companies struggle to follow the accounting rules for revenue recognition, particularly if they work on long-term projects. An external audit can help you get it right.

What’s the best accounting method route for business tax purposes?

Many businesses have a choice of using cash or accrual accounting for tax purposes. If you’re one of them, which route should you take? Here are the rules.

Best practices for M&A due diligence

Are you contemplating a merger or acquisition in 2024? Comprehensive financial due diligence is the cornerstone of a successful deal.

IRAs: Build a tax-favored retirement nest egg

How much can you save in an IRA this year and when do you have to start making withdrawals? Here are the answers to these and other IRA questions.

Solid financial reporting can help attract debt and equity financing

Access to capital is a major concern for business owners today. Timely, reliable financial statements are key to opening the door to the debt and equity funds.

Auditing concepts: Close-up on materiality

What’s materiality? This is an important accounting concept to review before audit fieldwork starts for your 2023 year-end financials.

Insights

If your business has co-owners, you probably need a buy-sell agreement

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For most business co-owners, the value of their business shares comprises a big percentage of their estates. Having a buy-sell agreement protects co-owners and their heirs and helps avoid hassles with the IRS. Continue Reading If your business has co-owners, you probably need a buy-sell agreement

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Consider borrowing from your corporation but structure the deal carefully

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Closely held corporation owners: If you need money for personal expenses like a new car or home improvements, consider borrowing from the business. But follow these tips to avoid adverse tax consequences. Continue Reading Consider borrowing from your corporation but structure the deal carefully

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Why audited financials matter

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