The Tax Cuts and Jobs Act has many business owners evaluating whether or not they have the right entity structure. The S corporation business structure offers many benefits, including limited liability for owners and no double taxation. But not all businesses are eligible - and, with the new 21% flat income tax rate that now [...]
Let me begin by answering that question. No! Now it is my responsibility to explain why. While “Rules of Thumb” typically derive from industry trends and comparable company research, they miss out on vital factors that must be considered when determining a reasonable value for a business or ownership share. First, let’s start with an [...]
What is the Cloud and How Does it Work? When you hear the saying, “your data is in the cloud”, it doesn’t mean your data is actually stored in a cloud about to drop torrents of rain upon you. The “cloud” merely means that your software and services are running through the internet instead of [...]
This week’s segment of the Performance Measurement video series, Dan Montgomery, CPA, provides an overview of Net Asset Composition.
When I was a kid, my dad said something that has stuck with me throughout my life. Considering I grew up to be a CPA, the irony of his statement isn’t lost on me... He said, “Son, there are only two definite things we must do in this world, pay taxes and die.” The takeaway [...]
Dan Montgomery, CPA, provides some insight in preventing and detecting fraud through effective and practical internal controls for our Nonprofit Video Series.
On this week's video series session, Joe Ryan, CPA, will be discussing Operating Reliance in Non Profit Organizations
Ross Van Laar, CPA, provides this week's session of the Performance Measurement video series on the topic of Average Gift Size.
A Critical Requirement Subject to various rules and limits, business meal (generally 50%), vehicle and travel expenses may be deductible, whether you pay for the expenses directly or reimburse employees for them. Deductibility depends on a variety of factors, but generally the expenses must be “ordinary and necessary” and directly related to the business. Proper [...]
This week's segment of the Performance Measurement video series, Joe Ryan, CPA, provides an overview of Program Expense Efficiency.