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So far Thomson Reuters has created 278 blog entries.

Small Businesses: Cash In On Depreciation Tax Savers

As we approach the end of the year, it’s a good time to think about whether your business needs to buy business equipment and other depreciable property. If so, you may benefit from the Section 179 depreciation tax deduction [...]

By |2020-12-01T12:47:11-05:00December 1st, 2020|Categories: Blog, Tax, Uncategorized|Tags: , , , , , |Comments Off on Small Businesses: Cash In On Depreciation Tax Savers

How COVID-19 Could Impact Year-End Inventory Counts

Many businesses are closed or are limiting third-party access as COVID-19 surges across the United States. These restrictions could still be in place at year end — a time when external auditors traditionally observe physical inventory counts for calendar-year [...]

By |2020-11-30T12:33:18-05:00November 30th, 2020|Categories: Audit, Blog, COVID-19|Tags: , , , , , |Comments Off on How COVID-19 Could Impact Year-End Inventory Counts

The Importance of S Corporation Basis and Distribution Elections

S corporations can provide tax advantages over C corporations in the right circumstances. This is true if you expect that the business will incur losses in its early years because shareholders in a C corporation generally get no tax [...]

By |2020-11-23T12:37:48-05:00November 23rd, 2020|Categories: Blog, Tax|Tags: , , , |Comments Off on The Importance of S Corporation Basis and Distribution Elections

Cutoff Rules: What Counts in 2020 vs. 2021

As year end approaches, it’s a good idea for calendar-year entities to review the guidelines for recognizing revenue and expenses. There are specific accounting cutoff rules under U.S. Generally Accepted Accounting Principles (GAAP). Strict observance of these rules is [...]

By |2020-11-20T12:46:17-05:00November 20th, 2020|Categories: Audit, Blog|Tags: , , , , , , |Comments Off on Cutoff Rules: What Counts in 2020 vs. 2021

Health Savings Accounts for Your Small Business

Small business owners are well aware of the increasing cost of employee health care benefits. As a result, your business may be interested in providing some of these benefits through employer-sponsored Health Savings Accounts (HSA). Or perhaps you already [...]

By |2020-11-16T12:36:53-05:00November 16th, 2020|Categories: Blog, Tax|Comments Off on Health Savings Accounts for Your Small Business

Minimize Turnover in Your Accounting Department

The demand for qualified accounting and finance personnel has grown, as business owners struggle to manage unpredictable cash flows, increased costs, and new government policies and financial aid packages. Plus, the potential job market for these professionals has expanded, [...]

By |2020-11-13T13:42:10-05:00November 13th, 2020|Categories: Audit, Blog|Tags: , , |Comments Off on Minimize Turnover in Your Accounting Department

Do You Want to Withdraw Cash From Your Closely Held Corporation at a Low Tax Cost?

Owners of closely held corporations often want to easily withdraw cash from their businesses at the lowest possible tax cost. The simplest way is to distribute cash as a dividend. However, a dividend distribution isn’t tax-efficient, since it’s taxable [...]

By |2020-11-09T14:10:31-05:00November 9th, 2020|Categories: Blog, Tax|Tags: , , |Comments Off on Do You Want to Withdraw Cash From Your Closely Held Corporation at a Low Tax Cost?

Preparing for the Possibility of a Remote Audit

The coming audit season might be much different than seasons of yore. As many companies continue to operate remotely during the COVID-19 pandemic, procedures are being adjusted accordingly for a remote audit. Here’s what might change as auditors work [...]

By |2020-11-06T13:06:37-05:00November 6th, 2020|Categories: Audit, Blog|Tags: , , , , , , , , |Comments Off on Preparing for the Possibility of a Remote Audit

Tax Responsibilities for Businesses Closing Amid the Pandemic

Unfortunately, the COVID-19 pandemic has forced many businesses to shut down. If your business is closing amid the pandemic, we’re here to assist you in any way we can, including taking care of the various tax obligations that must [...]

By |2020-11-02T14:56:22-05:00November 2nd, 2020|Categories: Blog, Tax|Tags: , , , , |Comments Off on Tax Responsibilities for Businesses Closing Amid the Pandemic

How Effectively Does Your Business Manage Risk?

From natural disasters and government shutdowns to cyberattacks and fraud, risks abound in today’s volatile, uncertain marketplace. While some level of risk is inevitable when operating a business, proactive owners and executives apply an enterprise risk management (ERM) framework [...]

By |2020-10-30T12:22:17-04:00October 30th, 2020|Categories: Audit, Blog|Tags: , , |Comments Off on How Effectively Does Your Business Manage Risk?
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