The passive activity loss (PAL) rules may limit your ability to deduct losses from a business structured as a limited liability partnership (LLP) or limited liability company (LLC). Depending on how your ownership interest is treated under these rules, you may have...
Even financially sound businesses can be vulnerable to market volatility and unexpected disruptions. Many companies discover too late that their financial position, internal controls or contingency plans aren’t built to withstand sudden shocks, potentially leading to...
After you’ve filed your 2025 tax return, what’s next? It’s easy to move on to other things, but taking a little time to address some tax-related items now can help you stay organized and avoid issues later. Here are a few to-dos. Check your refund status If you’re...
Many small businesses don’t have enough employees to worry about the play-or-pay provisions of the Affordable Care Act (ACA). However, as your business grows, these rules can apply sooner than expected. This issue also may not be on your radar because there’s a common...
Rising labor, materials and operating expenses continue to pressure margins across industries. To relieve that pressure, you might consider a price increase. The prices of your products and services should evolve with your business and market conditions while...
Many small business owners start with simple accounting processes. But as their companies grow, the choice of accounting method can significantly impact taxes, financial reporting and access to financing. Understanding the differences between the cash and accrual...
If you operate your business as a C corporation, how you put money into your company — and how you take it back out — can have a major impact on your tax bill. Payments from shareholders to fund the business can either be classified as capital contributions...
Most businesses close their books for tax and accounting purposes on December 31 because it aligns with the calendar year. But a calendar year isn’t always the best option. For some companies, choosing a fiscal year end that better reflects their business cycle can...
For many organizations, the end of the month brings added pressure to finalize financial records accurately and on time. This process often requires coordination across various departments, including finance and accounting (F&A), operations, sales and payroll....
Many time-consuming accounting and bookkeeping processes — from transaction coding to financial analysis — can now be handled more quickly and consistently with the help of artificial intelligence (AI). Rather than replacing humans, AI-powered automation helps finance...
