Assessing and Mitigating Key Person Risks

Auditing standards require a year-end risk assessment. One potential source of risk may be a small business’s reliance on the owner and other critical members of its management team. If a so-called “key person” unexpectedly becomes incapacitated or dies, [...]

By |2021-01-15T13:38:47-05:00January 15th, 2021|Categories: Audit, Blog|Tags: , , , , , , |Comments Off on Assessing and Mitigating Key Person Risks

Small Businesses: Cash In On Depreciation Tax Savers

As we approach the end of the year, it’s a good time to think about whether your business needs to buy business equipment and other depreciable property. If so, you may benefit from the Section 179 depreciation tax deduction [...]

By |2020-12-01T12:47:11-05:00December 1st, 2020|Categories: Blog, Tax, Uncategorized|Tags: , , , , , |Comments Off on Small Businesses: Cash In On Depreciation Tax Savers

How COVID-19 Could Impact Year-End Inventory Counts

Many businesses are closed or are limiting third-party access as COVID-19 surges across the United States. These restrictions could still be in place at year end — a time when external auditors traditionally observe physical inventory counts for calendar-year [...]

By |2020-11-30T12:33:18-05:00November 30th, 2020|Categories: Audit, Blog, COVID-19|Tags: , , , , , |Comments Off on How COVID-19 Could Impact Year-End Inventory Counts

Preparing for the Possibility of a Remote Audit

The coming audit season might be much different than seasons of yore. As many companies continue to operate remotely during the COVID-19 pandemic, procedures are being adjusted accordingly for a remote audit. Here’s what might change as auditors work [...]

By |2020-11-06T13:06:37-05:00November 6th, 2020|Categories: Audit, Blog|Tags: , , , , , , , , |Comments Off on Preparing for the Possibility of a Remote Audit

Year-End Accounting Recap

The Financial Accounting Standards Board (FASB) hasn’t issued any major new accounting rules in 2019. But there have been some important developments to be aware of when preparing annual financial statements under U.S. Generally Accepted Accounting Principles (GAAP). Deferral of [...]

By |2019-12-27T13:03:03-05:00December 27th, 2019|Categories: Audit, Blog, GAAP, Tax|Tags: , , , |Comments Off on Year-End Accounting Recap

6 Last-Minute Tax Moves for your Business

Tax planning is a year-round activity, but there are still some year-end strategies you can use to lower your 2018 tax bill. Here are six last-minute tax moves business owners should consider: Postpone invoices. If your business uses the [...]

By |2020-01-03T19:58:23-05:00December 17th, 2018|Categories: Blog, Small Business Services, Tax|Tags: , , |Comments Off on 6 Last-Minute Tax Moves for your Business
Go to Top