Materiality and Your Audit/Review
How materiality is established in an audit or a review When accountants conduct an audit or review, they can’t test every transaction. Instead, they set a “materiality” threshold. This benchmark…
How materiality is established in an audit or a review When accountants conduct an audit or review, they can’t test every transaction. Instead, they set a “materiality” threshold. This benchmark…
Sec. 179 expensing provides small businesses tax savings on 2017 returns — and more savings in the future If you purchased qualifying property by December 31, 2017, you may be…
Size of charitable tax deductions depends on many factors Whether you’re claiming charitable deductions on your 2017 return or planning your donations for 2018, be sure you know how much…
Custom jobs require ongoing supervision to achieve the best financial results. Whether you’re a general contractor constructing a strip mall, a manufacturer building made-to-order parts or an architect drawing up…
Your approach to building wealth should be built around your goals & values. Provided by Dane A. Wilson, Wealth Management Advisor Just what is comprehensive financial planning? As you invest…
For-profit vs. not-for-profit: Compare and contrast financial reporting goals As the term suggests, for-profit companies are driven primarily by one goal — to maximize profits for their owners. Nonprofits, on…
Got multiple locations? Expect auditors to keep a close eye on inventory. Do you remember the high-profile fraud that happened at drugstore chain Phar-Mor in the 1990s? Executives manipulated the…
Unlock money to buy assets Need cash in a hurry? Here’s how business owners can look to their balance sheet to improve cash flow. Receivables Many businesses turn first to…
Two tax credits just for small businesses may reduce your 2017 and 2018 tax bills Tax credits reduce tax liability dollar-for-dollar, potentially making them more valuable than deductions, which reduce…
Will your family business survive your retirement? There’s an old saying regarding family-owned businesses: “Shirtsleeves to shirtsleeves in three generations.” It means the first-generation owner started in shirtsleeves and built…