Cash vs. accrual reporting: Which is right for your business?

Small businesses often use the cash-basis method of accounting. As businesses grow, they usually convert to accrual-basis reporting for federal tax purposes and to conform with U.S. Generally Accepted Accounting Principles (GAAP). Starting this tax year, the Tax Cuts and [...]

By |2018-09-21T14:06:10+00:00September 21st, 2018|Categories: Blog, Small Business Services, Tax|Tags: |0 Comments

Be sure your employee travel expense reimbursements will pass muster with the IRS

Does your business reimburse employees’ work-related travel expenses? If you do, you know that it can help you attract and retain employees. If you don’t, you might want to start, because changes under the Tax Cuts and Jobs Act (TCJA) [...]

By |2018-09-17T13:18:07+00:00September 17th, 2018|Categories: Blog, Small Business Services, Tax|Tags: |0 Comments

Sustainability reports look beyond the numbers

In recent years, environmental, social and governance (ESG) issues have become a hot topic. Many companies voluntarily include so-called “sustainability disclosures” about these issues in their financial statements. But should the Securities and Exchange Commission (SEC) make these disclosures [...]

By |2018-09-14T14:21:54+00:00September 14th, 2018|Categories: Audit, Blog, Tax|Tags: |0 Comments

2018 Q4 tax calendar: Key deadlines for businesses and other employers

Here are some of the key tax-related deadlines affecting businesses and other employers during the fourth quarter of 2018. Keep in mind that this list isn’t all-inclusive, so there may be additional deadlines that apply to you. Contact us [...]

By |2018-09-10T13:11:47+00:00September 10th, 2018|Categories: Blog, Small Business Services, Tax|Tags: |0 Comments

How to reduce the tax risk of using independent contractors

Classifying a worker as an independent contractor frees a business from payroll tax liability and allows it to forgo providing overtime pay, unemployment compensation and other employee benefits. It also frees the business from responsibility for withholding income taxes [...]

By |2018-09-04T12:44:23+00:00September 4th, 2018|Categories: Blog, Small Business Services, Tax|Tags: |0 Comments

Beware of unexpected tax liabilities under new accounting and tax rules!

The Tax Cuts and Jobs Act (TCJA) contains a provision that ties revenue recognition for book purposes to income reporting for tax purposes, for tax years starting in 2018. This narrow section of the law could have a major [...]

By |2018-08-31T12:32:20+00:00August 31st, 2018|Categories: Blog, Tax|Tags: , |0 Comments

When It’s Time to Take Money Out of Retirement Plans

The term "distributions" refers to money withdrawn from a retirement plan. Generally, traditional IRA and 401(k) account holders are eligible to take penalty-free distributions at age 59 1/2, but the IRS doesn't require distributions until you turn 70 1/2. People [...]

By |2018-08-28T20:37:28+00:00August 28th, 2018|Categories: Blog, Estate & Trust, Tax|Tags: , , |0 Comments

Keep it SIMPLE: A tax-advantaged retirement plan solution for small businesses

If your small business doesn’t offer its employees a retirement plan, you may want to consider a SIMPLE IRA. Offering a retirement plan can provide your business with valuable tax deductions and help you attract and retain employees. For [...]

By |2018-08-27T14:00:34+00:00August 27th, 2018|Categories: Blog, Tax|Tags: , , |0 Comments

Use pay-ratio disclosures with caution

Starting in 2018, certain public companies must disclose the ratio of their CEO’s annual compensation to that of its “median employee.” The rule allows for significant flexibility in calculating these ratios, leading to widely divergent ratios within the same [...]

By |2018-08-21T17:15:55+00:00August 21st, 2018|Categories: Blog, Tax|Tags: , , |0 Comments