What To Do If Your Business Receives a “No-Match” Letter

In the past few months, many businesses and employers nationwide have received “no-match” letters from the Social Security Administration (SSA). The purpose of these letters is to alert employers if there’s a discrepancy between the agency’s files and data [...]

By |2019-08-13T12:31:28-04:00August 13th, 2019|Categories: Blog, Small Business Services, Tax|Tags: |0 Comments

How Auditors Use Non-Financial Information

Every financial transaction your company records generates nonfinancial data that doesn’t have a dollar value assigned to it. Though auditors may spend most of their time analyzing financial records, nonfinancial data can also help them analyze your business from multiple [...]

By |2019-06-17T12:27:23-04:00June 17th, 2019|Categories: Audit, Blog, Small Business Services, Tax|0 Comments

Hiring this Summer? You May Qualify for a Valuable Tax Credit

Is your business hiring this summer? If the employees come from certain “targeted groups,” you may be eligible for the Work Opportunity Tax Credit (WOTC). This includes youth whom you bring in this summer for two or three months. The [...]

By |2019-06-17T12:22:22-04:00June 17th, 2019|Categories: Blog, Small Business Services, Tax|0 Comments

AUP Engagements: A Middle Ground Between Audits and Consulting Services

Your CPA offers a wide menu of services. An audit is a familiar type of attestation service that provides a formal opinion about whether the company’s financial statements conform to U.S. Generally Accepted Accounting Principles (GAAP). Consulting services, in contrast, [...]

By |2019-06-17T12:05:58-04:00June 17th, 2019|Categories: Audit, Blog, Consulting, Small Business Services, Tax|Tags: , |0 Comments

Employers: Be Aware (or Beware) of a Harsh Payroll Tax Penalty

If federal income tax and employment taxes (including Social Security) are withheld from employees’ paychecks and not handed over to the IRS, a harsh penalty can be imposed. To make matters worse, the penalty can be assessed personally against a [...]

By |2019-06-03T19:26:06-04:00June 3rd, 2019|Categories: Blog, Small Business Services, Tax|0 Comments

Measuring “Fair Value” For Financial Reporting Purpose

The standard for valuing certain assets and liabilities under U.S. Generally Accepted Accounting Principles (GAAP) is “fair value.” This differs from other valuation standards that may apply when valuing a security or business interest in a litigation or mergers [...]

By |2019-06-03T19:18:25-04:00May 31st, 2019|Categories: Blog, Small Business Services, Tax|0 Comments

Predicting Future Performance

CPAs typically report historical financial performance. But sometimes they’re hired to predict how a company will perform in the future. Prospective reporting options There are three types of reports to choose from when predicting future performance: Forecasts. These prospective statements [...]

By |2019-05-31T16:07:06-04:00May 31st, 2019|Categories: Blog, Small Business Services, Tax|0 Comments

Tax-smart Domestic Travel: Combining Business with Pleasure

Summer is just around the corner, so you might be thinking about getting some vacation time. If you’re self-employed or a business owner, you have a golden opportunity to combine a business trip with a few extra days of [...]

By |2019-05-31T16:12:18-04:00May 31st, 2019|Categories: Blog, Small Business Services, Tax|0 Comments

Which Business Valuation Method Is Best?

Business valuations are used for many reasons. Some are fully business related, such as applying for a bank loan to expand your business, whereas others are more personal, for example, getting divorced. Whatever the reason, it is important to have [...]

By |2019-05-21T20:40:24-04:00May 21st, 2019|Categories: Blog, Small Business Services, Tax|0 Comments

Hire Your Children this Summer: Everyone Wins

If you’re a business owner and you hire your children (or grandchildren) this summer, you can obtain tax breaks and other nontax benefits. The kids can gain on-the-job experience, save for college and learn how to manage money. And you [...]

By |2019-05-20T19:28:02-04:00May 20th, 2019|Categories: Blog, Small Business Services, Tax|0 Comments