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So far Thomson Reuters has created 470 blog entries.

What is the CHIPS Act?

The Creating Helpful Incentives to Produce Semiconductors for America Act (CHIPS Act) was recently passed by Congress as part of the CHIPS and Science Act of 2022. President Biden is expected to sign it into law shortly. Among other [...]

By |2022-08-05T11:26:52-04:00August 5th, 2022|Categories: Blog, Manufacturing & Distribution, Tax, Technology|Comments Off on What is the CHIPS Act?

Tax Obligations for Permanently Closing a Business

Sadly, many businesses have been forced to shut down recently due to the pandemic and the economy. If this is your situation, we can assist you, including taking care of the various tax responsibilities that must be met. Of [...]

By |2022-07-13T17:02:29-04:00July 13th, 2022|Categories: Blog, Tax|Comments Off on Tax Obligations for Permanently Closing a Business

Last Call for Lease Accounting Standard

The updated lease accounting standard is currently in effect for private companies. After several postponements during the pandemic, the Financial Accounting Standards Board (FASB) voted unanimously to move forward with the changes. That means private companies and private not-for-profit [...]

By |2022-07-26T10:41:47-04:00July 11th, 2022|Categories: Audit, Blog, Lease Accounting|Comments Off on Last Call for Lease Accounting Standard

What is Auditor Independence?

Auditor independence is one of the most important requirements for audit firms. It’s why investors and lenders trust CPAs to provide unbiased opinions about the presentation of a company’s financial results. The Association of International Certified Professional Accountants (AICPA) [...]

By |2022-07-05T10:23:48-04:00July 7th, 2022|Categories: Audit, Blog|Comments Off on What is Auditor Independence?

Business Stress Test: Three Steps to Lower Your Risk

The pandemic and the ensuing economic turmoil have put tremendous stress on businesses. Many companies that appeared healthy on the surface, on their financial statements, quickly realized that they weren’t prepared for the unexpected. A so-called “business stress test” [...]

By |2022-06-29T14:06:46-04:00July 1st, 2022|Categories: Audit, Blog, Tax|Comments Off on Business Stress Test: Three Steps to Lower Your Risk

What Retailers Using Last In First Out (LIFO) Need to Know

Recent supply shortages may cause unexpected problems for some businesses that use the last in, first out (LIFO) method for their inventory. Here’s an overview of what’s happening so you won’t be blindsided by the effects of so-called “LIFO [...]

By |2022-06-29T13:48:12-04:00June 30th, 2022|Categories: Audit, Blog|Comments Off on What Retailers Using Last In First Out (LIFO) Need to Know

Changes to the Standard Business Mileage Rate for 2022

The IRS recently announced that it’ll increase the standard business mileage rate for qualified business driving for the second half of 2022. The adjustment reflects the soaring cost of gasoline this year. In fact, as of June 13, the [...]

By |2022-06-29T13:47:56-04:00June 29th, 2022|Categories: Blog, Tax|Comments Off on Changes to the Standard Business Mileage Rate for 2022

The Dividends-Received Deduction for C Corps

There’s a valuable tax deduction available to a C corporation when it receives dividends. The “dividends-received deduction” is designed to reduce or eliminate an extra level of tax on dividends received by a corporation. As a result, a corporation [...]

By |2022-06-14T17:23:33-04:00June 15th, 2022|Categories: Blog, Tax|Comments Off on The Dividends-Received Deduction for C Corps

Leveraging Financial Statement Footnotes

Numbers tell only part of the story. Comprehensive footnote disclosures, which are found at the end of reviewed and audited financial statements, provide valuable insight into a company’s operations. Unfortunately, most people don’t take the time to read footnotes [...]

By |2022-06-14T15:50:08-04:00June 11th, 2022|Categories: Audit, Blog|Comments Off on Leveraging Financial Statement Footnotes
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