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All About Service Businesses (3)

Mastering the Art of Depreciation: Choose the Perfect Tool for Your Business

Depreciation: the unsung hero of every business's accounting saga. It's the silent force that ensures your financial records dance to the rhythm of balance, a vital element in the complex symphony of profit and loss. Yet, for all its importance,...
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Uncovering a Phantom Workforce: the Dangers and Prevention of Ghost Employees

Payroll theft comes in all shapes and sizes and often lies hidden below the surface. Fraudsters who perpetrate ghost employee schemes use the shadow of another employee to cover their tracks. One of the best ways to prevent payroll theft is to understand...
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IRS Halts Processing of New Employee Retention Credit Claims

The IRS announced a moratorium on the popular Employee Retention Credit through at least the end of 2023. Here’s what you need to know about the moratorium.
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Your Business May Need to Comply With New Corporate Transparency Act

There’s a new law that should be on the radar screen of most small- and medium-sized business owners. The Corporate Transparency Act (CTA), passed in 2021, will require many businesses to take action in 2024. Now is the time for business owners to be...
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Tax Credits for New Electric Vehicles Purchased In 2023

If you’re one of the half million Americans who purchased an electric vehicle so far in 2023, you might be eligible for a tax credit.
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FASB Issues Guidance On How to Account for Related Party Leases

There’s new guidance for businesses and nonprofits that are subject to the relatively new lease accounting standard.
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