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 …
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,” …
Filing Responsibilities With Income or Loss From Business
Even if you’re doing a little freelance work from a home office, you’re technically running a business and have some new tax responsibilities that you didn’t have working entirely for …
What Are the Rules on Hazard Pay?
The U.S. Department of Labor defines hazard pay as “additional pay for performing a hazardous duty or work involving physical hardship.” Per the DOL, physical hardship is a work duty …