INSIGHTS
We See Things Differently
When we’re not addressing clients’ needs for business and financial advisory, assurance or tax matters, we’re researching, learning and thinking about related subjects. Check out some of our thinking on a broad variety of topics that may impact your organization. And if you’d like to learn more about any of these topics, we’re always happy to talk.
IRS to Raise Mileage Rate for Rest of 2022
In the wake of elevated gas prices, the IRS is increasing the optional standard mileage rate for the remaining months of 2022. These rates allow businesses and self-employed workers to calculate the deductible costs of using personal vehicles for business.
How to Ask a Board Member to Resign
When it comes to your organization, your board of directors is your backbone. Unfortunately, your board members also hold the power to let your organization crumble if they aren’t working as a unit. Here are a few tips to help ease tensions when asking a board member to resign.
Preparing for the Sale of Your Growing Business
If you want to sell your business at the highest price possible, now it’s time to prepare, prepare, prepare. Here’s what you need to know to prepare your business for sale.
What to Do Before You Decide to Sell Your Small Business
In this fluctuating economy, you might be wondering if you should sell your business. Whether or not to go forward with the complex sale process depends on a few key factors.
The Current Cost Crisis for Small Businesses
Inflation rates and supply chain issues are rising at an unprecedented rate. Here’s what you need to know and a few ways to mitigate the ever-growing inflation rates and supply chain issues.
Can I Write Off My Home Office?
With remote work becoming part of the new normal, you might be wondering if you can write off your home office. If the following requirements are met, you might be able to receive compensation.
The New Lease Accounting Standard: How it May Affect Your Business
Initially introduced in 2016, the new lease accounting standard is now effective for all non-public entities for fiscal years beginning after December 15, 2021. Here’s what you need to know.
Pass-Through Businesses in Maryland Electing to be Taxed at an Entity Level
Maryland Businesses can elect to be taxed at an entity level. Here are the details on who it is available to, what the benefits are, and how to start the process.
Worker classification is still important
If a business engages independent contractors to address staffing needs, it needs to be careful that these workers are properly classified for federal tax purposes. This article reviews the general rules for distinguishing an independent contractor from an employee.
How the Build Back Better Plan Could Affect Businesses if Signed into Law
On September 13, 2021, the Biden Administration announced the Build Back Better plan. It’s still in its early stages, but here are some of the changes that could affect businesses if implemented.
The Small Business Survival Guide for 2022
The pandemic has taken its toll on the world around us. With new challenges in the economic climate, businesses are looking towards the uncharted waters of the future. We’ve put together this small business survival guide to help growing businesses take apart the key issues affecting the marketplace in 2022.
How Biden’s Vaccine Mandate Could Affect U.S. Businesses
On September 10, 2021 the Biden Administration announced a vaccination mandate for the U.S workforce to fight against the COVID-19 pandemic. Many American workers will be required to show proof of vaccination or submit to weekly COVID-19 testing.
What To Expect During A Financial Audit
An audit has been scheduled, and you’re thinking, now what? What should we expect? What will the auditors need from me, and when? We’ve outlined the process with what to expect checklists.
A Breakdown of The American Families Plan Tax Compliance Agenda for Small Business Owners
We’ve broken down The American Families Plan Tax Compliance Agenda from U.S. Treasury Department; here’s what businesses need to know.
A Breakdown of The American Families Plan Tax Compliance Agenda
Biden’s campaign tax plan might be coming to fruition. Here’s what you need to know about the U.S. Treasury Department’s new tax compliance report released on May 20, 2021.
What the U.S. Treasury’s Cryptocurrency Reporting Requirement Announcement Means
After the U.S. Treasury Department’s cryptocurrency regulation announcement on May 20, 2021, there’s been a lot of buzz about cryptocurrency. Here’s what you need to know about cryptocurrencies, where they came from, what the new regulations are, and what these new regulations mean for the future.
What to Ask Yourself When Considering a Merger or Acquisition
As we begin to see the light at the end of the pandemic, the economic landscape looks vastly different for small businesses than it did prior to COVID-19. If you are looking toward the future for opportunities to grow, you may be considering an acquisition or merger. It is one less competitor and quick growth, after all. Here are some things you need to consider when contemplating a merger or acquisition.
Will We Ever Get Back to the Old Normal?
Vaccines are rolling out to the general population nationwide, and there is one question on everyone's mind. Will we ever get back to normal, the old normal before COVID-19 turned our world upside down? Here is what you should really be asking and considering.
