2.21.24
CECL Explained: What You Need to Know
The Financial Accounting Standards Board Accounting Standards Codification (FASB ASC) 326, Financial Instruments-Credit Losses, became effective for all entities on January 1, 2023. This accounting…
2.15.24
There May Still Be Time to Lower Your 2023 Tax Bill
If you’re preparing to file your 2023 tax return and expecting a tax bill, you may still be able to lower it — or even…
2.15.24
Tracking Down Donation Substantiation
If you’re like many Americans, your mailbox may have been filling up in recent weeks with letters from your favorite charities acknowledging your 2023 donations.…
2.15.24
How to Secure a Tax Benefit With the QBI Deduction
QBI may sound like the name of a TV quiz show. But it’s actually the acronym for “qualified business income,” which can trigger a tax…
2.15.24
Traveling for Business This Summer? Here’s What You Can Deduct
If you and your employees will be traveling for business this year, there are many factors to keep in mind. Under the tax law, certain…
2.15.24
Don’t Let Undercapitalization Affect Your Manufacturing Company
Even without a full understanding, it’s obvious from the word itself that undercapitalization is not good for your business. Undercapitalization occurs when a business holds…
2.13.24
What Does the Passing of the American Families and Business Act of 2024 Mean for Your Manufacturing Company?
The House of Representatives recently passed a bill that would extend several beneficial tax provisions that have recently expired, while also expanding numerous others. The…
2.13.24
What’s the Best Accounting Method Route for Business Tax Purposes?
Businesses basically have two accounting methods to figure their taxable income: cash and accrual. Many businesses have a choice of which method to use for…
2.9.24
House of Representatives Passes $78 Billion Tax Package
On January 31, the House of Representatives overwhelmingly passed the Tax Relief for American Families and Workers Act of 2024, a tax package worth $78…
2.9.24
Research and Development (R&D) In the Construction Industry
The Research and Development (R&D) tax credit is an incentive that rewards companies that continue to innovate and pursue new challenges. In the construction industry,…