HK Business News

If you’ve ever filed a business interruption claim, you know that it can be time-consuming and tedious. Here’s an easy way to simplify the claims filing process: Hire a business valuator to do the dirty work.

Owners’ compensation is often one of the largest expenses on a private business’s income statement. So, the IRS monitors it closely. It’s also one of the most contentious adjustments that’s needed to accurately value a business.

Do financial statements tell you how much a business is worth? Not directly. But they can be a useful launching pad for the cost approach.

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.