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So far Thomson Reuters has created 177 blog entries.

Thinking About Converting from a C Corporation to an S Corporation?

The right entity choice can make a difference in the tax bill you owe for your business. Although S corporations can provide substantial tax advantages over C corporations in some circumstances, there are plenty of potentially expensive tax problems [...]

By |2019-11-04T15:18:23-05:00November 4th, 2019|Categories: Blog, Tax|0 Comments

Valuing Profits Interests in LLCs

The use of so-called “profits interest” awards as a tool to attract and retain skilled workers has increased, as more companies are being structured as limited liability companies (LLCs), rather than as corporations. But accounting complexity has caused some private [...]

By |2019-11-04T15:01:30-05:00November 4th, 2019|Categories: Blog, Tax|Tags: , , |0 Comments

Accelerate Depreciation Deductions with a Cost Segregation Study

Is your business depreciating over a 30-year period the entire cost of constructing the building that houses your operation? If so, you should consider a cost segregation study. It may allow you to accelerate depreciation deductions on certain items, [...]

Reasons Why Cash is King

In financial reporting, investors and business owners tend to focus on four key metrics: 1) revenue, 2) net income, 3) total assets and 4) net worth. But, when it comes to gauging short-term financial performance and creditworthiness, the trump [...]

By |2019-10-21T15:53:49-04:00October 21st, 2019|Categories: Blog, Small Business Services, Tax|Tags: , , , , |0 Comments

Setting up a Health Savings Account for Your Small Business

Given the escalating cost of employee health care benefits, your business may be interested in providing some of these benefits through an employer-sponsored Health Savings Account (HSA). For eligible individuals, HSAs offer a tax-advantaged way to set aside funds [...]

By |2019-10-18T16:15:52-04:00October 15th, 2019|Categories: Blog, Small Business Services, Tax|0 Comments

Nonprofits: New Alternatives for Reporting Goodwill and Other Intangibles

Did you know that the Financial Accounting Standards Board (FASB) recently extended the simplified private-company accounting alternatives to not-for-profit organizations? Many merging nonprofits, including educational institutions and hospitals, welcome these practical expedients. Here are the details. Alternative for goodwill [...]

By |2019-10-16T16:17:28-04:00October 15th, 2019|Categories: Blog, Small Business Services, Tax|0 Comments

Understanding and Controlling the Unemployment Tax Costs of Your Business

As an employer, you must pay federal unemployment (FUTA) tax on amounts up to $7,000 paid to each employee as wages during the calendar year. The rate of tax imposed is 6% but can be reduced by a credit [...]

By |2019-10-16T16:21:38-04:00October 7th, 2019|Categories: Blog, Tax|Tags: , |0 Comments

Internal Audit 2.0: Paperless and Continuous Auditing Trends

Technology is altering the traditional approach to internal audits. Instead of reviewing reams of paperwork, today’s auditor is learning to use electronic records. In turn, going paperless facilitates a concept known as “continuous auditing,” where internal auditors continually gather [...]

By |2019-10-17T12:38:32-04:00October 7th, 2019|Categories: Audit, Blog, Tax|0 Comments

Measuring Fair Value for Financial Reporting

Business assets are generally reported at the lower of cost or market value. Under this accounting principle, certain assets are reported at fair value, such as asset retirement obligations and derivatives. Fair value also comes into play in M&A [...]

By |2019-10-17T12:50:30-04:00October 2nd, 2019|Categories: Blog, Small Business Services, Tax|0 Comments

The Chances of an IRS Audit Are Low, But Business Owners Should Be Prepared

Many business owners ask: How can I avoid an IRS audit? The good news is that the odds against being audited are in your favor. In fiscal year 2018, the IRS audited approximately 0.6% of individuals. Businesses, large corporations [...]

By |2019-10-16T16:33:35-04:00October 2nd, 2019|Categories: Audit, Blog, Small Business Services|0 Comments