Put a QOE report to work for you
Posted April 19, 2019 / No comments
An independent quality of earnings (QOE) report can be a valuable tool in mergers and acquisitions. It’s important for both buyers and sellers to look beyond the quantitative information provided by the selling company’s financial statements. Quality matters There’s a lack of guidance from the American Institute of Certified Public Accountants (AICPA) regarding scope and
Read MoreTCJA glitches and the extenders: Uncertainty looms over some federal income tax provisions
Posted April 12, 2019 / No comments
Congress has yet to tackle several outstanding uncertainties frustrating both businesses and individual taxpayers. The Tax Cuts and Jobs Act (TCJA), for example, contains several “glitches” requiring legislative fixes. Congress also has neglected to pass the traditional “extenders” legislation that retroactively extend certain tax relief provisions that expired at the end of an earlier year,
Read MoreTighe Kress & Orr Staff Accountant, Sharon Tucker, Receives the prestigious 2018 Elijah Watt Sells Award
Posted April 12, 2019 / No comments
NEW YORK (April 11, 2019) – The American Institute of CPAs (AICPA) today announced the 110 winners of the 2018 Elijah Watt Sells Award. To qualify for the award, CPA candidates must obtain a cumulative average score above 95.50 across all four sections of the Uniform CPA Examination, pass all four sections on their first attempt and have completed
Read MoreMake a deductible IRA contribution for 2018. It’s not too late!
Posted April 2, 2019 / No comments
Do you want to save more for retirement on a tax-favored basis? If so, and if you qualify, you can make a deductible traditional IRA contribution for the 2018 tax year between now and the tax filing deadline and claim the write-off on your 2018 return. Or you can contribute to a Roth IRA and
Read MoreSimplifying the accounting rules for convertible debt and equity
Posted March 29, 2019 / No comments
Distinguishing between liabilities and equity on a company’s balance sheet may seem straightforward. But difficulties arise when it comes to the terms of complex securities and financial contracts like redeemable equity instruments, equity-linked or indexed instruments, and convertible instruments. The good news is that the Financial Accounting Standards Board (FASB) is currently working on a
Read MoreThe Department of Labor proposes updated overtime rule
Posted March 22, 2019 / No comments
The Department of Labor proposes updated overtime rule The Trump administration has released its long-awaited proposed rule to update the overtime exemptions for so-called white-collar workers under the Fair Labor Standards Act. The rule increases the minimum weekly standard salary level for both regular workers and highly compensated employees (HCEs). It also increases the total
Read MoreThere’s still time for small business owners to set up a SEP retirement plan for last year
Posted March 11, 2019 / No comments
There’s still time for small business owners to set up a SEP retirement plan for last year If you own a business and don’t have a tax-advantaged retirement plan, it’s not too late to establish one and reduce your 2018 tax bill. A Simplified Employee Pension (SEP) can still be set up for 2018, and
Read MoreBlow the dust off your employee handbook
Posted February 26, 2019 / No comments
Blow the dust off your employee handbook It’s probably safe to say that most employers have created some form of an employee handbook. But just because your organization has one, that doesn’t mean it’s functional. An outdated or poorly written handbook could harm your organization by misleading employees or sending mixed messages about your HR
Read MoreThe home office deduction: Actual expenses vs. the simplified method
Posted February 19, 2019 / No comments
The home office deduction: Actual expenses vs. the simplified method If you run your business from your home or perform certain functions at home that are related to your business, you might be able to claim a home office deduction against your business income on your 2018 income tax return. There are now two methods
Read More3 big TCJA changes affecting 2018 individual tax returns and beyond
Posted February 12, 2019 / No comments
3 big TCJA changes affecting 2018 individual tax returns and beyond When you file your 2018 income tax return, you’ll likely find that some big tax law changes affect you — besides the much-discussed tax rate cuts and reduced itemized deductions. For 2018 through 2025, the Tax Cuts and Jobs Act (TCJA) makes significant changes
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