How can a cost benefit analysis help my company?
Many organizations – from large enterprises to startups and small businesses – use cost benefit analyses to help make important decisions. Using a cost benefit analysis can help teams identify …
Update: Meals and Entertainment Expense for Businesses
The IRS noted that the 2017 TCJA generally eliminated the deduction for any expenses related to activities typically considered entertainment, amusement or recreation. However, taxpayers may still deduct business expenses …
What’s the story behind estimated taxes?
The IRS requires taxpayers to pay their taxes for a given year in that year. For taxpayers who are employees of companies, their employers must withhold income tax from each …
Are there business deductions you can take advantage of?
Yes, but first you have to make sure your expenses are truly business-related. The lines can blur, especially with a small business, because you generally cannot deduct personal, living or …
Applying ASC 606 in Construction
In simple terms, if you’re in the business of entering contracts to deliver goods or services to customers, you’re affected by the FASB’s ASC 606, which provides guidance in recognizing …
Subcontractor vs. Independent Consultant vs. Employee
We often hear our clients or other government contractors use “subcontractor” and “independent consultant” interchangeably; however, they are not synonymous. sometimes we hear independent consultants being referred to as “1099s,” …