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 …
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 …
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 …
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 …