Auditing WIP Many types of businesses — such as homebuilders and manufacturers — turn raw materials into finished products for customers. Pr... Read More
Eligible Businesses: Claim the Employee Retention Tax Credit The Employee Retention Tax Credit (ERTC) is a valuable tax break that was extended and modified by the American Rescue Plan Act (ARPA), ena... Read More
Is your nonprofit complying with federal procurement requirements? “Uniform Administrative Requirements, Cost Principles, and Audit Requirements for Federal Awards” (Uniform Guidance) applies to... Read More
Seniors may be able to write off Medicare premiums on their tax returns Are you age 65 and older and have basic Medicare insurance? You may need to pay additional premiums to get the level of coverage you want. ... Read More
Follow the cutoff rules for revenue and expenses Timing counts in financial reporting. Under the accrual method of accounting, the end of the accounting period serves as a strict “cu... Read More
Are your company’s job descriptions pulling their weight? At many businesses, job descriptions have it easy. They were “hired” (that is, written) many years ago. They haven’t had ... Read More
2021 Q3 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 third quarter of 2021. Keep in mind that... Read More
Accounting estimates present challenges in times of uncertainty In today’s unprecedented market conditions, it can be challenging to predict metrics that underlie your company’s accounting es... Read More
Using your financial statements to evaluate capital budgeting decisions Strategic investments — such as expanding a plant, purchasing a major piece of equipment or introducing a new product line — ca... Read More
An S corporation could cut your self-employment tax If your business is organized as a sole proprietorship or as a wholly owned limited liability company (LLC), you’re subject to both i... Read More