Preparations vs. compilations

January 24, 2022 Tracy Hughes Assurance compilations, financial statements, preparations

Small business owners: Can you name the key differences between prepared and compiled financial statements?

Numerous tax limits affecting businesses have increased for 2022

January 19, 2022 Christine Ulibarri Tax Bites contribution limits, deductions, meals, social security, tax

How much can your employees contribute to 401(k) plans this year? How much will your business be able to deduct for business meals, driving expenses and equipment in 2022? Here are the answers to these and other questions about tax inflation adjusted amounts and other changes affecting businesses.

Bookkeeping for builders: 8 tips to consider

January 17, 2022 Dave Burger Construction bookkeeping, builders, contractors

Construction companies don’t have it easy when it comes to bookkeeping. Here are eight ways you might be able to improve how you track your transactions.

Businesses with employees who receive tips may be eligible for a tax credit

January 11, 2022 January 10, 2022 Daliah Bui Hospitality, Tax Bites FICA taxes, tax credits

Owners of restaurants and bars have had a rough couple of years due to the pandemic. Keep in mind that employers in the food and beverage industry may be eligible for a valuable tax break with the FICA tip credit. Here’s how it works.

Reporting and managing inventory

January 10, 2022 Kristin McCoy Assurance, Financial & Professional Services, Manufacturing business processes, inventory, reporting

Are inefficient inventory practices dragging down your business? It’s important to regularly review your approach.

BeachFleischman Announces 2022 Promotions

January 10, 2022 Heather Murray News and Events promotions

Learn about our recently announced 2022 staff promotions

Commission fraud: When salespeople get paid more than they’ve earned

January 5, 2022 Travis Jones Assurance, Financial Forensics & Valuation, Fraud commissions, Fraud, fraud detection

When structured and managed correctly, a commission program can boost employee compensation and morale. But it also can tempt salespeople to commit fraud. Here’s how to contain the threat.

Defer tax with a like-kind exchange

January 4, 2022 January 3, 2022 Susan Armstrong Real Estate, Tax Bites like-kind exchange, Real Estate Tax Planning, TCJA

With real estate prices up in some markets, the “like-kind” exchange strategy may be attractive if you want to sell commercial or investment real estate.