When manufacturers purchase equipment and other tangible property, various tax breaks are available, including Section 179 expensing and first-year bonus depreciation. For 2024, bonus depreciation…
Spring is the time of year that calendar-year-end businesses issue financial statements and prepare tax returns. This year, take your financial data beyond compliance. Here’s…
Some contractors might assume hackers won’t bother with smaller construction businesses. Sadly, they’d be wrong. Construction companies tend to have high turnover rates, which means…
In the complex and sometimes chaotic world of long-term construction projects, many contractors find themselves struggling to accurately align the revenue coming in with the…
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…
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…
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.…
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…
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…
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…