The tax rules regarding business losses are complex, especially when accounting for how NOLs can interact with other potential tax breaks. Click through to find out more........hubs.la/Q03m69D90 #taxsavings

Signed into law by President Donald Trump on July 4, 2025, the No Tax on Tips Act creates a federal income tax exemption for tip income—up to $25,000 per year—for employees in traditionally tipped jobs...........hubs.la/Q03z7b1Y0 #notaxontips

External confirmations may seem like just an audit formality, but they’re evolving into faster, smarter and more secure tools for validating your financials. Click through to find out more.......hubs.la/Q03s_CKJ0 #audit #thirdpartyconfirmations

There are a variety of benefits to HSAs. Contributions to the accounts are made on a pre-tax basis. The money can accumulate tax-free year after year and can be withdrawn tax-free to pay for a variety of medical expenses...........hubs.la/Q03rH8ws0 #healthsavingsaccount

Instead of using the standard Modified Accelerated Cost Recovery System (MACRS) depreciation method, certain entities may choose to immediately deduct a qualified PPE purchase under Section 179 or the bonus depreciation program.........hubs.la/Q03jHTy_0 #PPEreporting

Companies often prepay insurance, rent and other items. Rather than report the full prepaid amount as an expense on the income statement, you may need to may need to recognize a prepaid asset on the balance sheet........hubs.la/Q03x4LwK0 #prepaidexpenses

The U.S. Census Bureau reports there were nearly 447,000 new business applications in May of 2025. If you’re one of the entrepreneurs, you may not know that many expenses incurred by start-ups can’t currently be deducted on your tax return.........hubs.la/Q03xsFLV0 #startup

We’re hiring a Client Accounting Specialist to join the Machen McChesney team full-time in Auburn! Apply today at 👉 hubs.la/Q03JRsk10

SEP and SIMPLE plans offer unique advantages for small business owners and their employees. Neither plan requires annual filings with the IRS..........hubs.la/Q03jxh970 #retirementplans

Is the month-end close stressful for your accounting staff? Learn how to combine a structured approach with the power of QuickBooks. Click through to find out more.........hubs.la/Q03nyhDP0 #monthendclose

Small businesses need a winning strategy in today’s competitive marketplace. Your financial statements contain three useful reports to help the company stay at the top of its game............hubs.la/Q03xm6jr0 #financialstatements #incomestatement

Determining “reasonable compensation” is a critical issue for owners of C corporations and S corporations. If the IRS believes an owner’s compensation is unreasonably high or low, it may disallow certain deductions............hubs.la/Q03lh4C_0 #reasonablecompensation

Misclassifying employees as independent contractors can result in expensive consequences if the IRS reclassifies them. Click through to find out more............hubs.la/Q03nkN-S0 #independentcontractor

A common thread in early failures is weak financial planning and oversight. A comprehensive, realistic budget can help your start-up minimize growing pains and thrive over the long run..........hubs.la/Q03yc5-w0 #startup #budget

In today’s environment, fair value estimates face increased audit scrutiny. Approach fair value estimates with diligence, documentation and, where necessary, third-party support...........hubs.la/Q03hr0rp0 #fairmarketvalue

Securing a loan requires more than filling out a few forms. You need a clear financial story. Click through to find out more..........hubs.la/Q03ms8fg0 #financialreport

Through risk assessments, internal control evaluations and tailored audit procedures, auditors can identify and address fraud risks, thereby safeguarding financial reporting integrity. Click through to find out more...........hubs.la/Q03sftrZ0 #fraud

As a business owner do you prepay for expenses? Here’s an overview of the accounting rules for reporting prepaid items and guidance to help you manage them effectively...........hubs.la/Q03x4XHn0 #prepaidexpenses

Honoring all who have served and those who continue to serve. Happy Veterans Day!