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Possible Tax Reform Could Affect Timing Strategies

October 4, 2017

Projecting your business income and expenses for this year and next can allow you to time when you recognize income and incur deductible expenses to your tax advantage. Typically, it’s better to defer tax. This might end up being especially true this year, if tax reform legislation is signed into

Promoting from Within Can Be a Recipe for Management Success

September 14, 2017

Promoting current, nonsupervisory employees to management positions can fulfill the employment needs of many organizations. You’ve just got to follow the right recipe.

Tax Planning Critical When Buying a Business

September 11, 2017

If you acquire a company, your to-do list will be long, which means you can’t devote all of your time to the deal’s potential tax implications. However, if you neglect tax issues during the negotiation process, the negative consequences can be serious.

How Your Nonprofit Can Avoid Investment Fraud

September 8, 2017

Investment fraud, such as Ponzi schemes, can cause significant financial losses for not-for-profits. But the harm it can cause an organization’s reputation with donors and the public may be even worse.

Revenue Fraud in Associations

September 7, 2017

Fraud that makes the headlines are typically disbursement schemes, meaning that they are frauds that occurred from the disbursement of cash, such as embezzlement and purchasing frauds. While these are very significant and should be considered by every type of organization by addressing internal controls surrounding cash disbursements, associations may

Don’t Let Unethical Sales Spoil Your Company’s Success

September 7, 2017

If your sales team is willing to say whatever it takes to land a sale, it could hurt your company’s good name. So don’t overlook sales when building an ethical business culture.

How to Preserve Fraud Evidence

August 29, 2017

Your first action when you uncover fraudulent activity should be to take proactive steps to preserve evidence. Otherwise, you might inadvertently destroy or discard critical data. And without evidence, fraud can’t be fully traced and perpetrators can’t be prosecuted and punished.

Flipping the Switch with an Employee Survey

August 29, 2017

Many employers labor along with little to no idea what their employees are really thinking or feeling about a variety of critical employment issues.

Material Participation Key to Deducting LLC and LLP Losses

August 7, 2017

If your business is a limited liability company (LLC) or a limited liability partnership (LLP), you know that these structures offer liability protection and flexibility as well as tax advantages.

ESOPs Offer Businesses Tax and Other Benefits

July 31, 2017

With an employee stock ownership plan (ESOP), employee participants take part ownership of the business through a retirement savings arrangement.

Financial Statement Service Levels

July 25, 2017

Did you know that auditors don’t just audit financial statements? In fact, there are a variety of levels of financial statement services provided, including compilations, reviews, and of course, audits.

All Fringe Benefits Aren’t Equal for Tax Purposes

July 19, 2017

A fringe benefit is “a form of pay (including property, services, cash or cash equivalent), in addition to stated pay, for the performance of services. But the tax treatment of a fringe benefit can vary dramatically based on the type of benefit.

Three Types of Information Your Nonprofit’s Board Needs

June 26, 2017

Information is power. And regularly supplying information to your not-for-profit’s board of directors is the key to the board properly fulfilling its duties. This doesn’t mean you have to share every internal email or phone message. Board members should, however, receive and understand information that will help them work together

Consider Tax Consequences Before Making an Employee a Partner

June 20, 2017

Offering employees an equity interest in your business can be a powerful tool for attracting, retaining and motivating quality talent. If your business is organized as a partnership, however, there are some tax traps you should watch out for.

Loans Between Your Business and Its Owners

June 12, 2017

It’s common for closely held businesses to transfer money into and out of the company, often in the form of a loan. However, the IRS looks closely at such transactions: Are they truly loans, or actually compensation, distributions or contributions to equity?