Tax Reform Could Mean Big Savings for Craft Beverage Industry

The Craft Beverage Modernization and Tax Reform Act has brought some bright news for producers of craft beer, wine and spirits. Beginning in tax year 2018, excise taxes will be substantially reduced, resulting in some pretty hefty tax savings [...]

Is This Your Situation: Trying to Maintain Internal Controls

According to a spokesperson from the Risk Unit of Marquette University of Milwaukee, Wisconsin, "Establishing effective internal controls can help a department operate more efficiently and effectively and provide a reasonable level of assurance that the processes and products for [...]

By | 2018-04-11T14:51:42+00:00 April 14th, 2018|Categories: Blog, Consulting|Tags: , |0 Comments

Is This Your Situation: Confused About Salary Rules in an S-Corp

You're in business to make money to feed your family, send the kids to college or drive the sports car of your dreams. But when you're a shareholder in an S corporation, how and how much you get paid can [...]

By | 2018-04-11T14:52:17+00:00 April 10th, 2018|Categories: Blog, Tax|Tags: , |0 Comments

Is This Your Situation: Deciding if Contractors Can Claim R&D Benefits

Of particular relevancy to contractors is the research and development tax credit, a tax incentive program. Also known as the research and experimentation tax credit or the research tax credit, it allows companies to work at maximum efficiency, Many wrongly [...]

By | 2018-04-11T14:52:45+00:00 April 10th, 2018|Categories: Blog, Technology|Tags: |0 Comments

Internal Control Testing: What role does sampling play?

Auditors must test the effectiveness of internal controls before signing off on your financial statements. But it’s impossible to analyze every transaction that’s posted to the general ledger, due to time and budget constraints. Instead, auditors select and analyze a [...]

By | 2018-04-11T14:53:13+00:00 April 10th, 2018|Categories: Blog|Tags: |0 Comments

Should You File Form SS-8 to Ask the IRS to Determine a Worker’s Status?

Classifying workers as independent contractors — rather than employees — can save businesses money and provide other benefits. But the IRS is on the lookout for businesses that do this improperly to avoid taxes and employee benefit obligations.To find out [...]

By | 2018-04-11T14:53:50+00:00 April 9th, 2018|Categories: Blog, Tax|Tags: , |0 Comments

A Net Operating Loss on Your 2017 Tax Return Isn’t All Bad News

When a company’s deductible expenses exceed its income, generally a net operating loss (NOL) occurs. If when filing your 2017 income tax return you found that your business had an NOL, there is an upside: tax benefits. But beware [...]

By | 2018-04-11T14:54:24+00:00 April 9th, 2018|Categories: Blog, Tax|Tags: |0 Comments

13 Tips for Effective Estate Planning

As your family grows, your estate matures and your assets become more substantial, it’s probably time to start thinking about an estate and trust plan. Estate and trust planning is a crucial step for those looking to ensure that [...]

By | 2018-04-11T14:54:50+00:00 April 6th, 2018|Categories: Blog, Estate & Trust, Tax|Tags: , |0 Comments

Managing Accounting Close: 5 Features of an Effective and Efficient Accounting Close

The Accounting Close process is a time-critical activity with an often unforgiving deadline.  It requires the synchronization of people, processes and systems to produce the results necessary to satisfy the needs of management and other stakeholders. No matter the size [...]

By | 2018-04-11T14:49:35+00:00 April 5th, 2018|Categories: Blog, Consulting, Kevin Shives|Tags: , |Comments Off on Managing Accounting Close: 5 Features of an Effective and Efficient Accounting Close