HK Business News

Congress has passed the Inflation Reduction Act (IRA), an extensive piece of legislation that President Biden has signed into law. The IRA contains tax breaks, tax increases for some large, profitable corporations and provisions related to the federal deficit, climate change, drug prices for those enrolled in Medicare — and much more. Here are some of the highlights.

The year is almost half over. Is your business on track to meet its goals for 2022? Interim financial reporting can help gauge your progress.

One way manufacturers can widen their hiring pools while potentially qualifying for a valuable tax break is to complete the eligibility requirements for the Work Opportunity Tax Credit.

Exploring financial statement footnotes can be a rewarding endeavor.

In M&As, sellers want to maximize the sales price. The key is finding a buyer who appreciates the company’s synergistic value.

Is your company being transparent about contingent liabilities? In today’s uncertain conditions, reporting contingencies can be challenging. Here’s a refresher on the accounting rules for disclosing and estimating expected losses.

Workers aren’t considered independent contractors simply because a manufacturing company says they are. Given the significant cost of misclassifying workers, it’s critical for manufacturers to make the right determination.

Can you name three ways to value a business?

Use your accountant for more than reporting historical results. Here’s how an accounting professional can help you prepare for the future.

Put in the work now to implement midyear tax-reduction strategies for your manufacturing company. It could be time well spent come the next time you file taxes

Take your audited financials to the next level by implementing the improvements contained in the management letter.

Financial distress rarely happens overnight. There are usually red flags indicating that trouble is brewing, but it might take some effort to spot them.