Superior Results. Delivered.
Blog
A Candid Talk with Ford CEO Jim Farley on Ford’s EV Future
As posted to the Munro Live YouTube Channel on 8/1/2022 (Run Time 49 min, 46 sec) Ford CEO Jim Farley, Linda Zhang (F-150 Chief Nameplate Engineer), and Doug Field (Chief Officer of EVs and Digital Systems) deliver Munro & Associates a Ford F-150 Lightning and sit down for a down-to-earth interview with Sandy Munro to [...]
Attention OEMs: The Age of “Catalog Engineering” is Over
Excerpt of an article posted to the Memos by Heller House website on 7/27/22 In their book The Innovator's Solution, Clayton Christensen and Michael Raynor cite the example of IBM as a cautionary tale against outsourcing activities that "might seem to be a non-core activity today" but that "might become an absolute critical competence [...]
How to Use the Cost Approach to Value a Business
The balance sheet — which shows a company’s assets and liabilities — is a logical starting point for valuing certain types of businesses. The cost (or asset) approach specifically focuses on this part of a company’s financial statements. Here’s an overview to help you understand this valuation technique. How does it work? When valuation professionals [...]
Risk Assessments are a Critical Anti-Fraud Tool
Fraud risk assessments have been shown to prevent occupational fraud and limit losses for victimized organizations. These tools have become more prevalent in recent years, according to “Occupational Fraud 2022: A Report to the Nations” published by the Association of Certified Fraud Examiners (ACFE). But although almost 50% of businesses perform fraud assessments, many owners [...]
How Disability Income Benefits are Taxed
If you’ve recently begun receiving disability income, you may wonder how it’s taxed. The answer is: It depends. The key issue is: Who paid for the benefit? If the income is paid directly to you by your employer, it’s taxable to you just as your ordinary salary would be. (Taxable benefits are also subject to [...]
How Do Taxes Factor into an M&A Transaction?
Although merger and acquisition activity has been down in 2022, there are still companies being bought and sold. If your business is considering merging with or acquiring another business, it’s important to understand how the transaction will be taxed under current law. Stocks vs. assets From a tax standpoint, a transaction can basically be structured [...]
Can Individual Taxpayers Deduct Vehicle Expenses?
It’s not just businesses that can deduct vehicle-related expenses on their tax returns. Individuals also can deduct them in certain circumstances. Unfortunately, under current law, you may not be able to deduct as much as you could years ago. For years prior to 2018, miles driven for business, moving, medical and charitable purposes were potentially [...]
2022 Q3 Tax Calendar for Businesses and Other Employers
Here are some of the key tax-related deadlines affecting businesses and other employers during the third quarter of 2022. Keep in mind that this list isn’t all-inclusive, so there may be additional deadlines that apply to you. Contact us to ensure you’re meeting all applicable deadlines and to learn more about the filing requirements. August [...]
Measuring Residual Value for the Discounted Cash Flow Method
When valuing a business using the discounted cash flow method, residual (or terminal) value is a key component. The International Valuation Glossary — Business Valuation defines residual value as “the value as of the end of the discrete projection period in a discounted future earnings model.” Business valuation experts typically consider the capitalization of earnings [...]
Five Tax Implications of Divorce
Are you in the early stages of divorce? In addition to the tough personal issues that you’re dealing with, several tax concerns need to be addressed to ensure that taxes are kept to a minimum and that important tax-related decisions are properly made. Here are five issues to consider if you’re in the process of [...]
Partially Empty Offices Can Be Fertile Ground For Theft
If most of your employees have worked from home since the start of the pandemic or are only gradually transitioning back to onsite work, your office may be emptier than in pre-COVID days. This can make theft easier. “Creepers” can gain access to offices or other physical facilities via unlocked doors and social engineering techniques [...]
IRS Issues Mid-Year Business Mileage Rate Increase
Business owners are aware that the price of gas is historically high, which has made their vehicle costs soar. The average nationwide price of a gallon of unleaded regular gas on June 17 was $5, compared with $3.08 a year earlier, according to the AAA Gas Prices website. A gallon of diesel averaged $5.78 a [...]
You Can Crank It . . . But It’ll Cost You!
Home Energy Saver Website: hes.lbl.gov/consumer (This is Blog Post #1238)
Your Estate Plan: Don’t Forget About Income Tax Planning
As a result of the current estate tax exemption amount ($12.06 million in 2022), many people no longer need to be concerned with federal estate tax. Before 2011, a much smaller amount resulted in estate plans attempting to avoid it. Now, because many estates won’t be subject to estate tax, more planning can be devoted [...]
Is Your Corporation Eligible for the Dividends-Received Deduction?
There’s a valuable tax deduction available to a C corporation when it receives dividends. The “dividends-received deduction” is designed to reduce or eliminate an extra level of tax on dividends received by a corporation. As a result, a corporation will typically be taxed at a lower rate on dividends than on capital gains. Ordinarily, the [...]
Disclaimer
This blog is designed to provide competent and reliable information regarding the subject matter covered. However, it is being provided with the understanding that the blogmaster is not engaged in rendering investment advice. Laws and practices often vary from state to state and if investment assistance is required, the services of a licensed investment professional should be sought. The blogmaster resolutely encourages the reader/viewer to do their own research and due diligence before acting on any information contained herein. As such, Roger Rossmeisl specifically disclaims any liability that is incurred from the use or application of the contents of this blog. It should also be noted that the views contained in this blog are not necessarily representative of the opinions/beliefs of the other owners, management and/or employees of Kho & Patel CPAs.
