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Returning Value Blog

Funding Your Business: What Small Business Owners Need to Know About Financing

Posted by Lesley L. Price, CPA on Feb 06, 2025

Running a small business often requires periodic cash infusions, and knowing how to secure the right funding can determine whether your business succeeds or struggles. Let’s explore the three primary types of funding available to small businesses: debt, equity, and hybrid financing.

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Posted in Business Advisory

Transform Month-End and Year-End Close

Posted by Chris Earnest on Feb 05, 2025

In a business world marked by uncertainty, month-end and year-end accounting challenges have remained a constant. The resolution of the recent political season and the Federal Reserve’s lowering of interest rates may have given organizations an overall renewed sense of optimism and the momentum to tackle those challenges. However, the complexity and volume of financial tasks during these periods can overwhelm even the most seasoned accounting teams, placing intense pressure on those that may lack the necessary resources. In this article, we explore how outsourcing accounting functions may provide a viable way to alleviate that pressure. 

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Posted in Accounting & Outsourcing

Suspended Tip Scheme Gets Stake in the Heart

Posted by Amber Cochran on Feb 04, 2025

A rule that a federal court suspended in August 2024 seems to bewell and truly dead now.As the Society for Human Resource Management explained in a release, the DOL has withdrawn its 80/20/30 rule. This complicated rule, the SHRM noted, divided work into three categories: traditional tipped labor, supporting work preparing or assisting such work, and work that was unrelated to tipped work. Businesses could only apply the tip credit under certain circumstances, based on time spent and the specific categories. The details were complex — and became irrelevant thanks to a 5th Circuit ruling.

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Posted in Payroll, HR & Benefits

Fraud Risk Assessment: What Auditors Watch For

Posted by Aaron K. Waller, CPA on Jan 27, 2025

Auditing standards require auditors to identify and assess the risks of material misstatement due to fraud and to determine overall and specific responses to those risks. Here are some answers to questions about what auditors assess when interviewing company personnel to evaluate potential fraud risks.

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Posted in Audit & Assurance

Beyond the Financials: What's a Quality of Earnings Report?

Posted by Melissa Motley, CPA on Jan 23, 2025

Financial statements provide insights into a company’s historical performance. But, the parties to a merger or acquisition are also interested in assessing the acquisition target’s potential to generate cash flow in the future. That’s where an independent quality of earnings (QOE) report comes into play.

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Posted in Audit & Assurance

The Standard Business Mileage Rate Increased in 2025

Posted by Murry Guy, CPA on Jan 22, 2025

The nationwide price of gas is slightly higher than it was a year ago, and the 2025 optional standard mileage rate used to calculate the deductible cost of operating an automobile for business has also gone up. The IRS recently announced that the 2025 cents-per-mile rate for the business use of a car, van, pickup, or panel truck is 70 cents. In 2024, the business cents-per-mile rate was 67 cents per mile. This rate applies to gasoline and diesel-powered vehicles as well as electric and hybrid-electric vehicles.

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Posted in Business Tax

Small Business Strategy: A Heavy Vehicle Plus a Home Office Equals Tax Savings

Posted by Murry Guy, CPA on Jan 15, 2025

New and used “heavy” SUVs, pickups, and vans placed in service in 2025 are potentially eligible for big first-year depreciation write-offs. One requirement is that you use the vehicle more than 50% for business. If your business usage is between 51% and 99%, you may be able to deduct that percentage of the cost in the first year. The write-off will reduce your federal income tax bill and your self-employment tax bill, if applicable. You might get a state tax income deduction too.

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Posted in Business Tax

How Section 1231 Gains and Losses Affect Business Asset Sales

Posted by Nick Wheeler, CPA on Jan 14, 2025

When selling business assets, understanding the tax implications is crucial. One area to focus on is Section 1231 of the Internal Revenue Code, which governs the treatment of gains and losses from the sale or exchange of certain business property.

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Posted in Business Tax

Now or Later: When Should Your Company Implement the New Crypto Reporting Guidance?

Posted by Lesley L. Price, CPA on Jan 09, 2025

The Financial Accounting Standards Board (FASB) made favorable changes to the accounting rules for crypto assets in December 2023. The updated guidance benefits reporting entities and external stakeholders alike. It’s effective for fiscal years beginning after December 15, 2024, including interim periods within those years. Here’s what you should know — and why many companies are choosing to implement the changes before they’re required to do so.

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Posted in Business Tax

Understanding Key Payroll Changes for 2025

Posted by Katelyn Parks on Jan 08, 2025

As we approach 2025, it is essential for businesses to stay updated on recent changes impacting payroll, benefits, and compensation. This year brings several key updates, including an increase in the IRS standard mileage rate for business use, adjustments to 401(k) contribution limits, and a significant legal decision affecting overtime regulations. Below, we break down these changes and their implications for your payroll operations.

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Posted in Payroll, HR & Benefits

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