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President Biden’s 2024 budget proposal includes a variety of changes that could impact taxes for individuals and businesses.
Purchasing a heavy SUV could provide a more generous tax break than a smaller vehicle for business owners.
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.
The Securities and Exchange Commission advises business owners to keep five key areas in mind when preparing 2022 financial statements.
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.
The IRS has increased the optional standard mileage rate by 4 cents per mile, its first mid-year mileage rate adjustment in 11 years.
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.
For more information, please view our breadth of services for manufacturing companies:
“We have been working with KraftCPAs for 15 years. Our manufacturing business is complex, and they have taken the time to understand our processes, and are able to leverage their overall technical knowledge and experience with other clients to provide insights and advice on how we can improve. We certainly view KraftCPAs as a valuable business partner.”
Mike McKee, McKee Foods Corporation
