Are Financial Forecasts Reliable?
There are many types of financial forecasts, but they fall into two categories: quantitative and qualitative. To understand the pros and cons of any forecasting method, you’ll first need to …
IRS Offers Guidance on ERC
The IRS has issued guidance for employers regarding the retroactive termination of the Employee Retention Credit. The Employee Retention Credit now applies only to wages paid before October 1, 2021, …
Figuring Out Your Business Taxes
Think you’re ready for tax time? Take the test. The type of business will determine the type of taxes that will be required to be remitted. Here is a list …
What to Know About Incorporation and Taxation
Operating as a sole proprietorship or general partnership is the least complicated way to run a business, and many small businesses never move beyond that. But businesses that go with …
Section 174 Research Deduction Changes for 2022
The IRS will require business owners to amortize Section 174 research expenses over multiple years instead of deducting them in the year incurred unless a provision in the Tax Cuts …
How To Ensure Your Company’s Financial Statement Assertions Are Accurate
A company’s financial managers are responsible for accurately reporting all of the organization’s financial activities. They confirm this accuracy in the financial statement assertions, which are explicit or implicit assertions …