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At some point as a business owner, you might entertain the idea of selling and moving on to a new endeavor. The process of selling a business can be tedious, but having a plan in place and knowing the tax implications of a business sale can help reduce the stress and, potentially, the tax implications.
Scammers are hyping quick, easy money from the employee retention tax credit, but despite what you might hear in the slick advertisements, the IRS has a warning for employers.
The cost of goods sold can account for 70% of a company’s expenses, according to recent discussions by the FASB’s Investor Advisory Committee. However, some companies skimp on details around the costs they incur to produce goods. The FASB’s disaggregation of income statement project could change that.
Every business can be an innovator. The research tax credit is a way to reward that innovation, and it comes with an intriguing feature related to payroll taxes.
Depending on the nature of your company’s operations, your balance sheet may include inventory totals. Here’s why your inventory system might be flawed and giving you the wrong numbers.
Businesses and nonprofit groups are gradually adjusting to requirements of the new lease accounting standard, such as bringing most leases onto the balance sheet. Since ASC 842 can seem confusing, here’s a quick guide to ease the adjustment period.
Being fully prepared and organized can help your financial statement audit go smoothly and ultimately save your business or organization time, money, and headaches.
Diversity, equity, and inclusion are buzzwords in modern strategic management. Here are some of the benefits that initiatives in these areas bring to public and private companies and how companies can showcase their progress in footnote disclosures and separate diversity, equity, and inclusion reports.
During the COVID-19 pandemic, many audit procedures have been performed remotely, forcing auditors to rely more heavily on analytical procedures. It’s important to understand how auditors use analytical procedures to make audits more efficient and effective.
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“KraftCPAs has taken care of the Zeitlin family business for three generations. We all sleep better at night knowing that KraftCPAs is looking out for our best interest.”
Shirley Zeitlin, Zeitlin Sotheby’s International Realty®
