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Returning Value Blog

FASB About the Going Concern Assessment

Posted by Aaron K. Waller, CPA on Oct 15, 2025

The going concern assumption underlies financial reporting under U.S. Generally Accepted Accounting Principles (GAAP) unless management has plans to liquidate. If a going concern issue is identified but not adequately disclosed, the omission might be considered “pervasive” because it can affect users’ understanding of the financial statements as a whole. So it’s critical to get it right. Here are answers to common questions about this assumption to help evaluate your company’s ability to continue operating in the future.

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Posted in Audit & Assurance

There's Still Time for Businesses to Benefit From Clean Energy Tax Breaks

Posted by Jessica L. Pagan, CPA on Oct 14, 2025

The One Big Beautiful Bill Act (OBBBA), signed into law on July 4, 2025, extends or enhances many tax breaks for businesses. But the legislation terminates several business-related clean energy tax incentives earlier than scheduled. For example, the Qualified Commercial Clean Vehicle Credit (Section 45W) had been scheduled to expire after 2032. Under the OBBBA, it’s available only for vehicles that were acquired on or before September 30, 2025. For other clean energy breaks, businesses can still take advantage of them if they act soon.

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Posted in Business Tax

Year-End Budgeting: Where to Look for Cost-Saving Opportunities

Posted by Lesley L. Price, CPA on Oct 13, 2025

As 2025 winds down, business owners and managers are ramping up their planning efforts for the new year. Part of the annual budgeting process is identifying ways to lower expenses and strengthen cash flow. When cutting costs, think beyond the obvious, such as wages, benefits, and employee headcount. These cutbacks can make it harder to attract and retain skilled workers in today’s challenging labor market, potentially compromising work quality and productivity. Here are three creative ideas to help boost your company’s bottom line — without sacrificing its top line.

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Posted in Business Advisory

Bundling Vacation, Personal Days and Sick Time

Posted by Amber Cochran Saxon on Oct 10, 2025

Life has a way of throwing curveballs at us that require time away from work to resolve them. Running a personal errand, taking a sick family member to a doctor's appointment, or attending a child's parent-teacher conference are some examples of when having paid time off to be used at your own discretion is greatly valued. Employees no longer need to categorize their absence; all time away from work comes from the same single source.

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Posted in Payroll, HR & Benefits

How Often Should Your Business Issue Financial Statements?

Posted by Melissa Motley, CPA on Oct 09, 2025

For decades, quarterly financial reporting has provided the cornerstone for fair, efficient, and well-functioning markets. However, President Trump recently posted on social media that public companies should move to semiannual financial reporting. He believes changing the frequency would lower compliance costs and allow management to focus less on meeting short-term earnings targets and more on building long-term value. But critics say less frequent reporting could result in information gaps and increased market volatility.

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Posted in Audit & Assurance

The 2025 - 2026 "High-Low" Per Diem Business Travel Rates Are Here

Posted by Murry Guy, CPA on Oct 08, 2025

If you have employees who travel for business, you know how frustrating it can be to manage reimbursements and the accompanying receipts for meals, hotels, and incidentals. To make this process easier, consider using the “high-low” per diem method. Instead of tracking every receipt, your business can reimburse employees using daily rates that are predetermined by the IRS based on whether the destination is a high-cost or low-cost location. This saves time and reduces paperwork while still ensuring compliance. In Notice 2025-54, the IRS announced the high-low per diem rates that became effective October 1, 2025, and apply through September 30, 2026.

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Posted in Accounting & Outsourcing

FAQs About Creating and Optimizing Customer Profiles in QuickBooks

Posted by Chris Earnest on Oct 06, 2025

Small business owners might be tempted to rush through setting up customer profiles in QuickBooks® just to get invoices out quickly. But the extra data fields aren’t just busy work. Complete, accurate customer records help you generate more insightful reports, communicate with customers more effectively, and save time on bookkeeping tasks later. Here are answers to some common questions to help ensure your files are set up properly in your accounting software.

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Posted in Accounting & Outsourcing

The Tax Traps of Personally Guaranteeing a Loan to Your Corporation

Posted by Nick Wheeler, CPA on Oct 03, 2025

If you’re considering guaranteeing, or are asked to guarantee, a loan to your closely held corporation, it’s important to understand the potential tax consequences. Acting as a guarantor, endorser, or indemnitor means that if the corporation defaults, you could be responsible for repaying the loan. Without planning ahead, you may face unexpected tax implications.

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Posted in Business Advisory, Business Tax

Treasury to Stop Issuing Paper Checks: Get Ready for E-Payments.

Posted by Louis Hawkins, CPA on Sep 25, 2025

On March 25, 2025, the White House issued Executive Order 14247, “Modernizing Payments To and From America’s Bank Account."

This order establishes that, effective September 30, 2025, the U.S. Treasury will cease issuing paper checks for all federal disbursements—including tax refunds—where permitted by law.

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Posted in Tax News

Tax Court Case Provides Lessons on Best Recordkeeping Practices for Businesses

Posted by Chris Earnest on Sep 24, 2025

Running a successful business requires more than delivering great products or services. Behind the scenes, meticulous recordkeeping plays a crucial role in financial health, compliance, and tax savings. Good records can mean the difference between successfully defending a deduction and losing valuable tax breaks. A recent U.S. Tax Court decision underscores just how important this is.

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Posted in Accounting & Outsourcing

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