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 …
IRS Updates Form 941 To Reflect COVID-19 Tax Credits
The IRS has revised Form 941, Employer’s Quarterly Federal Tax Return, to accommodate COVID-19-related employment tax credits granted under the Families First Coronavirus Response Act and the Coronavirus Aid, Relief, …
Deciding Between a Compilation and a Review
Even a successful and growing small business may be asked for an audited financial statement by a banker, investor, creditor, or buyer. These third parties often want some assurance that …
How to deduct up to 20 percent of your qualified business income.
The new QBI deduction, created by the 2017 tax reform law, allows many owners of sole proprietorships, partnerships, S corporations, trusts, or estates to deduct up to 20 percent of …
Reconstructing Records After a Disaster
If you’re the victim of a major disaster, you might be entitled to government relief. But you will need records to help you prove disaster-related losses for tax purposes, federal …