5.31.22
Businesses: Prepare for the Lower 1099-K Filing Threshold
Businesses should be aware that they may be responsible for issuing more information reporting forms for 2022 because more workers may fall into the required…
5.31.22
Proposed Regs for Inherited Iras Bring Unwelcome Surprises
Back in late 2019, the first significant legislation addressing retirement savings since 2006 became law. The Setting Every Community Up for Retirement Enhancement (SECURE) Act…
5.25.22
Tax Implications of Manufacturers Operating in Multiple States (Nexus)
Pre-2018, businesses used physical presence, such as a satellite location or employees working in a state, to determine if substantial nexus was created to require…
5.20.22
Forecasts vs. Projections: What’s the Big Difference?
Financial statements look at historical performance. But there are times when you want forward-looking reports to help your business make strategic investment decisions, evaluate the…
5.20.22
Businesses May Receive Notices About Information Returns That Don’t Match IRS Records
The IRS has begun mailing notices to businesses, financial institutions and other payers that filed certain returns with information that doesn’t match the agency’s records.…
5.17.22
A Segmented Income Statement Can Be a Powerful Management Tool for Manufacturers
A company-wide income statement may be sufficient for lenders or other outsiders to evaluate your manufacturing company’s financial performance. But from management’s perspective, a “segmented”…
5.17.22
Seven Midyear Tax-Reduction Strategies for Manufacturers
As the midpoint of the year fast approaches, it’s a good time for manufacturers to assess their tax status and plan appropriate strategies for reducing…
5.17.22
Why Won’t the IRS Talk to Me?
It is always frustrating when you need to talk to a person, for any reason, and they cannot or will not respond. It is even…
5.17.22
Ensure Your Construction Accounting System Has the Right Features
Construction accounting is distinctively complex. Unlike other businesses that rely heavily on a general ledger to track finances, construction companies need to master a project-based…
5.17.22
Sales and Use Taxes: An Ongoing Challenge
We’re fast approaching the fourth anniversary of the U.S. Supreme Court’s landmark decision in South Dakota v. Wayfair. That makes now a good time for…