President Joe Biden signed the budget reconciliation bill H.R. 5376 into law Tuesday, August 16, 2022. Better known as the Inflation Reduction Act, the bill includes a number of tax provisions that may affect your business.
You have a great concept for a business, but before you move on to developing your buy-sell agreement, do you know what the best structure or entity type is for you? The entity type is crucial to the success of a business and can have drastic legal and tax consequences for a company. As a business owner, it is your responsibility to understand the structure of the business you are creating and your personal stake within the company.

Sean Brady, CPA shares some key benchmarks that may indicate it’s time for an audit:

 

 

“The times, they are a-changin’,” is not just a title of a well-known Bob Dylan song. It’s commonly indicative of why your organization may need an audit.

Audits are typically brought about by change, primarily a change in the stakeholders. To clarify, we are not talking about the “dreaded” IRS audit. Instead, we are talking about a f Read More >>

Mike Bigrigg, CPA/ABV recently gave a presentation on business valuations and succession planning. Here is what you need to know:

 

 

Two-thirds of businesses in the United States are owned by entrepreneurs over the age of 50. It is estimated that 10 million of those business owners will retire in the next 10 years. It is also estimated that 35% of those businesses will not sell due to poor succession planning. Only 1 in 4 closely held businesses have a formal success Read More >>

Susie Johnson gives a rundown of the benefits to outsourcing this important piece of your business:

 

 

Bookkeeping. Anymore, business owners look at this task as a chore that no one really wants to take the time to accomplish. However, if neglected, responsible financial decisions will be overlooked. There is a simple solution to this dilemma – outsource your bookkeeping operations! There are several advantages to outsourcing:

  1. Save Money: you only pay for the
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