Privately Held & Family Owned Businesses

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Seven tax strategies that save small businesses money

September 22, 2021

Taxes are a constant for any business. They come due every year, whether you have a profitable year or are in times of economic downturn.…

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Implementing the new lease accounting standards for private construction firms

August 13, 2021

During the uncertainty of the pandemic in 2020, the Financial Accounting Standards Board (FASB) granted a temporary reprieve for private companies, delaying their deadline for…

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How better job costing is the key to unlocking greater profitability for your construction firm

August 13, 2021

Job costing is the backbone of any construction project’s profitability, and how well you manage this process can make or break the bank on a…

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Payroll fraud challenges in a remote work environment

July 29, 2021

Remote work has been a hot topic for the past several years. Since workplaces were strongly encouraged to allow non-essential employees to work from home…

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Understanding business meal and entertainment deduction rules

July 29, 2021

The last few years have afforded quite a few changes in how the IRS allows businesses to handle meal and entertainment costs in relation to…

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Revenue, cash flow, and how they affect your business

May 17, 2021

As a business owner, increasing sales can be a great mood lifter. But what happens if you get a large order and have no way…

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Top IRS audit triggers and best practices to protect your business from an IRS audit

May 16, 2021

Tax audit can strike fear and loathing into the hearts of business owners. But, in reality, the Internal Revenue Service (IRS) won’t arbitrarily make your…

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IRS Fact Sheet provides new details about tax credits available to eligible employers who provide paid vaccine leave

April 23, 2021

The IRS and Treasury Department provided new information regarding the tax credits available through the American Rescue Plan (ARP). The ARP was created to help small…

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The pros and cons of hiring contractors vs. employees

April 23, 2021

When you’re ready to expand your business and grow your team, you generally have two options for increasing your workforce: Hiring employees or engaging independent…

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Key tax provisions in the American Rescue Plan Act

March 17, 2021

The American Rescue Plan Act (ARPA) has been signed into law by President Biden and makes significant updates to several tax provisions to alleviate some…

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