Choosing the Right Business Structure: A Critical Step for Your New Business
Starting a business involves a great deal of decision making. One of the first, and most important, decisions is choosing a business structure. A business structure can affect how much you pay in taxes, the paperwork you are required to […]
Read More Ease the financial pain of natural disasters with tax relief
Hurricane Milton has caused catastrophic damage to many parts of Florida. Less than two weeks earlier, Hurricane Helene victimized millions of people in multiple states across the southeastern portion of the country. The two devastating storms are among the many […]
Read More Federal Tax News for Businesses
A Business Tax Deduction for Working Pets If you're a business owner, you may be able to deduct "ordinary and necessary" expenses related to keeping working animals. But the operative word here is "working," for example, dogs that guard against […]
Read More Business Owners: Failure to Substantiate Donations Can Be Costly
Charitable donations can provide businesses with significant tax savings. But for gifts over a certain amount, they must obtain a contemporaneous written acknowledgement of their donations to qualify for a charitable contribution deduction. Failing to do so can prove costly. […]
Read More 8 Steps Toward Enhanced Financial Security
During uncertain times, you may be concerned about the effects world events will have on your financial affairs. Of course, there are no absolute guarantees of protection, but shoring up your defenses and laying the groundwork for a comprehensive wealth-management […]
Read More Taxes take center stage in the 2024 presidential campaign
Early voting for the 2024 election has already kicked off in some states, but voters are still seeking additional information on the candidates’ platforms, including their tax proposals. The details can be hard to come by — and additional proposals […]
Read More Valuing donations of private business stock
Some business owners may be considering donating corporate stock to charities in 2024. Donations of public stocks are generally easy to value because their prices are listed on public stock exchanges. But valuations of private business interests are typically more […]
Read More Look beyond revenue to maintain long-term growth for your manufacturing company
Successful manufacturers know that the key to sustainable growth is increasing profits, not just revenue. Let’s take a closer look at some ways you can boost your bottom line. Reduce overhead Increasing profits doesn’t always mean plant layoffs. Often, overhead […]
Read More Strong controls over financial reporting are essential
Public companies are required to evaluate and report on internal controls over financial reporting using a recognized control framework under rules set forth by the Securities and Exchange Commission (SEC). However, private companies also need checks and balances to help […]
Read More CFOs need more than accounting skills
Is your company planning to hire a new CFO? A recent survey found that hiring managers look for more than financial acumen when vetting CFO candidates. In fact, only 38.5% of CFOs at Fortune 500 and S&P 500 companies were […]
Read More Supreme Court: COLI proceeds are included in business value
A recent U.S. Supreme Court ruling resolves a circuit split on a business valuation issue — and it could have a major impact on the value of many closely held companies going forward. In Connelly v. IRS (144 S. Ct. […]
Read More How market uncertainty can affect business value
Businesses face uncertain conditions today, including geopolitical and cybersecurity risks, inflation concerns, environmental issues, and a lack of clarity about future tax laws and interest rates. Here’s an overview of how business valuation professionals factor these kinds of issues into […]
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