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September 2019
The chances of an IRS audit are low, but business owners should be prepared
Many business owners ask: How can I avoid an IRS audit? The good news is that the odds against being audited are in your favor.
Measuring fair value for financial reporting
Business assets are generally reported at the lower of cost or market value.
Protecting youth sports leagues from fraud
Who would defraud a kids’ organization? The answer, unfortunately, is that trusted adults sometimes steal from not-for-profits benefiting children.
Does your team know the profitability game plan?
Autumn brings falling leaves and … the gridiron.
When is tax due on Series EE savings bonds?
You may have Series EE savings bonds that were bought many years ago. Perhaps you store them in a file cabinet or safe deposit box and rarely think about them.
How to treat your business website costs for tax purposes
These days, most businesses need a website to remain competitive. It’s an easy decision to set one up and maintain it.
Management letters: Have you implemented any changes?
Audited financial statements come with a special bonus: a “management letter” that recommends ways to improve your business.
When nonprofits need to register in multiple states
Many not-for-profit organizations use fundraising methods that cross state boundaries.
How to research a business customer’s creditworthiness
Extending credit to business customers can be an effective way to build goodwill and nurture long-term buyers.
Uncle Sam may provide relief from college costs on your tax return
We all know the cost of college is expensive.
5 ways to withdraw cash from your corporation while avoiding dividend treatment
Do you want to withdraw cash from your closely held corporation at a low tax cost? The easiest way is to distribute cash as a dividend.
Budgeting is key to a successful start-up
More than half of recent college graduates plan to start a business someday, according to the results of a survey published in August by the American Institute of Cert
Nonprofits can borrow, but finding a lender may be tough
Borrowing isn’t just for businesses. Many not-for-profits borrow money for major capital purchases, new program funding and even to manage current cash flow.
For best results, start your strategic planning early
Time flies when you’re having fun — and running a business.
2019 Q4 tax calendar: Key deadlines for businesses and other employers
Here are some of the key tax-related deadlines affecting businesses and other employers during the fourth quarter of 2019.
Getting a divorce? There are tax issues you need to understand
In addition to the difficult personal issues that divorce entails, several tax concerns need to be addressed to ensure that taxes are kept to a minimum and that import
Auditing grant compliance
Has your organization received any public or private grants to fund its growth? Grants sometimes require an independent audit by a qualified accounting firm.
A policy can help nonprofits look “gift horses” in the mouth
When you receive a personal gift from a friend or family member — even if it’s not something you particularly want — you accept the gift and thank the person.
Putting together the succession planning and retirement planning puzzle
Everyone needs to plan for retirement.
