by groupm7 | Aug 23, 2024 | Blog
Your businesses may have a choice between using the cash or accrual method of accounting for tax purposes. The cash method often provides significant tax benefits for those that qualify. However, some businesses may be better off using the accrual method. Therefore,...
by groupm7 | Aug 23, 2024 | Blog
External auditors have primary responsibility for audit quality. However, the audit committee plays an important oversight role in the financial reporting process. Here are some best practices to consider when evaluating the composition of your company’s audit...
by groupm7 | Aug 23, 2024 | Blog
Navigating the complexities of tax law can be difficult, especially when faced with an unexpected tax bill due to the errors of a spouse or ex-spouse. The reason for such a bill has to do with the concept of “joint and several” liability. When a married couple files a...
by groupm7 | Aug 23, 2024 | Blog
Let’s say you own real estate that has been held for more than one year and is sold for a taxable gain. Perhaps this gain comes from indirect ownership of real estate via a pass-through entity such as an LLC, partnership or S corporation. You may expect to pay...
by groupm7 | Aug 23, 2024 | Blog
Proactive working capital management is essential to successful business operations. However, on average, businesses aren’t managing their working capital as efficiently as they have in the past, according to a new study by The Hackett Group, a digital transformation...
