Under the Sarbanes-Oxley Act, the audit committee — not management or the full board of directors — is directly responsible for appointing, compensating and overseeing external auditors….Read More
Blog
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Many tax-related limits affecting businesses increase for 2019
A variety of tax-related limits affecting businesses are annually indexed for inflation, and many have gone up for 2019. Here’s a look at some that may affect…Read More
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M&A due diligence: Don’t accept financial statements at face value
The M&A market was hot last year, and that momentum is expected to continue in 2019. Before acquiring another business, however, it’s important to do your homework….Read More
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Higher mileage rate may mean larger tax deductions for business miles in 2019
Higher mileage rate may mean larger tax deductions for business miles in 2019 This year, the optional standard mileage rate used to calculate the deductible costs of…Read More
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How do profits and cash flow differ?
Business owners sometimes mistakenly equate profits with cash flow. Here’s how this can lead to surprises when managing day-to-day operations — and why many profitable companies experience…Read More
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Is there still time to pay 2018 bonuses and deduct them on your 2018 return?
There aren’t too many things businesses can do after a year ends to reduce tax liability for that year. However, you might be able to pay employee…Read More
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4 ideas for fostering a partnership between internal and external auditors
External audits aren’t required for every business. But whether required or not, they can provide lenders and investors with assurance that your financial statements are free from…Read More
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Time to celebrate! FASB expands VIE exception for private companies
The Financial Accounting Standards Board (FASB) recently gave private companies long-awaited relief from one of the most complicated aspects of financial reporting — consolidation of variable interest…Read More
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Business owners: An exit strategy should be part of your tax planning
Tax planning is a juggling act for business owners. You have to keep your eye on your company’s income and expenses and applicable tax breaks (especially if…Read More
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Conducting an effective post-M&A audit
So, you’re about to merge with another company. What’s next? The integration process typically starts with audited financial statements that reflect the results and financial position of…Read More