The Cost Approach to Valuing a Business
The cost (or asset-based) approach to valuing a business focuses on the balance sheet. This financial statement reports “book values” for the company’s assets […]
Numerous Tax Limits Affecting Businesses Have Increased for 2022
Many tax limits that affect businesses are annually indexed for inflation, and a number of them have increased for 2022. Here’s a rundown of those that may […]
Help Safeguard your Personal Information by Filing your 2021 Tax Return Early
The IRS announced it is opening the 2021 individual income tax return filing season on January 24. (Business returns are already being accepted.) Even […]
To Prove Fraud, You Need to Preserve Evidence
Prevention is the heart of any fraud mitigation program. But sometimes even solid internal controls fail (because, for example, a manager overrides controls) and […]
Keep Your Tax Return Safe from “Ghosts”
(This is Blog Post #1159)
How Will Revised Tax Limits Affect Your 2022 Taxes?
While Congress didn’t pass the Build Back Better Act in 2021, there are still tax changes that may affect your tax situation for this […]
When Subsequent Events Count
The value of a business interest is valid as of a specific date. The effective date is a critical cutoff point because events that occur after that […]
Businesses with Employees who Receive Tips may be Eligible for a Tax Credit
If you’re an employer with a business where tipping is customary for providing food and beverages, you may qualify for a federal tax credit […]
Are You Eligible for a Medical Expense Tax Deduction?
You may pay out a bundle in out-of-pocket medical costs each year. But can you deduct them on your tax return? It’s possible but […]
