--- title: Machen McChesney Blog | Murry Guy, CPA (2) description: (2) --- [Family of Services](http://machenmcchesney.com/about-us/family-of-companies/)  |  [CPA & Business Advisory](http://machenmcchesney.com)  |  [Payroll, HR & Benefits](http://focuspaysolutions.com/)  |  [Wealth Management](http://machenmcchesney.com/services/financial-planning-and-wealth-mangement-services/) Auburn-Opelika (334) 887-7022 | Montgomery (334) 244-8900 [![mm-re-cobrand-fd-blues](https://info.machen.cpa/hs-fs/hubfs/mm-re-cobrand-fd-blues.png?width=279&height=100&name=mm-re-cobrand-fd-blues.png)](http://machenmcchesney.com) Search this site on Google Search Google Search this site on Google Search Google - [Client Portal](https://machenmcchesney.sharefile.com/Authentication/Login) - [1040 Electronic Organizer](https://www.my1040data.com/account/login/HT7902990) - [LinkedIn](https://www.linkedin.com/company/675439?trk=tyah&trkInfo=idx%3A1-1-1%2CtarId%3A1424436970395%2Ctas%3Amachen+mcchesney) - [Facebook](https://www.facebook.com/machenmcchesney) - 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[Benefits](http://machenmcchesney.com/careers/benefits/) - [Our Stories](http://machenmcchesney.com/careers/our-stories/) - [Current Openings](http://machenmcchesney.com/careers/current-openings-send-resume/) - [Accounting Internship Opportunities](http://machenmcchesney.com/careers/students/) - Contact Us - [Auburn-Opelika Office](http://machenmcchesney.com/contact-us/contact-us-auburn-office/) - [Montgomery Office](http://machenmcchesney.com/contact-us/contact-us-montgomery-office/) # Returning Value Blog ## Murry Guy, CPA ### Recent Posts ## [Is Your Accounting Software Working for Your Business — or Against It?](https://info.machen.cpa/blog/is-your-accounting-software-working-for-your-business-or-against-it) ![](https://info.machen.cpa/hubfs/Murry%20Guy%202025%20Updat.jpg) Posted by [Murry Guy, CPA](https://info.machen.cpa/blog/author/murry-guy-cpa) on Nov 26, 2025 [![](https://info.machen.cpa/hubfs/Accounting%20software%202210979416-social.jpg)](https://info.machen.cpa/blog/is-your-accounting-software-working-for-your-business-or-against-it) When buying new accounting software or upgrading your existing solution, it’s critical to evaluate your options carefully. The right platform can streamline operations and improve financial reporting accuracy. However, the wrong one can result in reporting delays, compliance risks, security breaches, and strategic missteps. Here are some common pitfalls to avoid. [Full Story](https://info.machen.cpa/blog/is-your-accounting-software-working-for-your-business-or-against-it) Posted in [Business Advisory](https://info.machen.cpa/blog/topic/business-advisory) ## [5 Ways to Streamline Your Billing Process](https://info.machen.cpa/blog/5-ways-to-streamline-your-billing-process) ![](https://info.machen.cpa/hubfs/Murry%20Guy%202025%20Updat.jpg) Posted by [Murry Guy, CPA](https://info.machen.cpa/blog/author/murry-guy-cpa) on Nov 13, 2025 [![](https://info.machen.cpa/hubfs/Invoices%20-2182110555-social.jpg)](https://info.machen.cpa/blog/5-ways-to-streamline-your-billing-process) When your business is growing, billing can easily fade into the background. After all, once invoices go out and payments come in, it may seem like everything’s running smoothly. But small inefficiencies and overlooked errors can quietly chip away at cash flow. [Full Story](https://info.machen.cpa/blog/5-ways-to-streamline-your-billing-process) Posted in [Business Advisory](https://info.machen.cpa/blog/topic/business-advisory) ## [The 2025 - 2026 "High-Low" Per Diem Business Travel Rates Are Here](https://info.machen.cpa/blog/the-2025-2026-high-low-per-diem-business-travel-rates-are-here) ![](https://info.machen.cpa/hubfs/Murry%20Guy%202025%20Updat.jpg) Posted by [Murry Guy, CPA](https://info.machen.cpa/blog/author/murry-guy-cpa) on Oct 08, 2025 [![](https://info.machen.cpa/hubfs/Plane%2c%20%20suite%20case%201319308041-Social.jpg)](https://info.machen.cpa/blog/the-2025-2026-high-low-per-diem-business-travel-rates-are-here) 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. [Full Story](https://info.machen.cpa/blog/the-2025-2026-high-low-per-diem-business-travel-rates-are-here) Posted in [Accounting & Outsourcing](https://info.machen.cpa/blog/topic/accounting-outsourcing) ## [Receive $10,000 in Cash at Your Business? The IRS Wants to Know About It.](https://info.machen.cpa/blog/receive-10000-in-cash-at-your-business-the-irs-wants-to-know-about-it) ![](https://info.machen.cpa/hubfs/Murry%20Guy%202025%20Updat.jpg) Posted by [Murry Guy, CPA](https://info.machen.cpa/blog/author/murry-guy-cpa) on Sep 17, 2025 [![](https://info.machen.cpa/hubfs/Form%208300%20Social%20Media.jpg)](https://info.machen.cpa/blog/receive-10000-in-cash-at-your-business-the-irs-wants-to-know-about-it) Does your business receive large amounts of cash or cash equivalents? If so, you’re generally required to report these transactions to the IRS — and not just on your tax return. Here are some answers to questions you may have. [Full Story](https://info.machen.cpa/blog/receive-10000-in-cash-at-your-business-the-irs-wants-to-know-about-it) Posted in [Business Advisory](https://info.machen.cpa/blog/topic/business-advisory) ## [Receivables Rx: Key Metrics to Assess the Health of Your Cash Flow](https://info.machen.cpa/blog/receivables-rx-key-metrics-to-assess-the-health-of-your-cash-flow) ![](https://info.machen.cpa/hubfs/Murry%20Guy%202025%20Updat.jpg) Posted by [Murry Guy, CPA](https://info.machen.cpa/blog/author/murry-guy-cpa) on Aug 28, 2025 [![](https://info.machen.cpa/hubfs/Account%20Receivables%20-1007950776-Social.jpg)](https://info.machen.cpa/blog/receivables-rx-key-metrics-to-assess-the-health-of-your-cash-flow) For many businesses, accounts receivable (AR) is one of the largest assets on the balance sheet. It represents the cash you’ve earned but haven’t yet collected. Efficient AR management is critical for maintaining healthy cash flow, reducing bad debt, and fueling growth. But a key question often goes unasked: How do your company’s receivables compare to others in your industry? This is where benchmarking comes in. [Full Story](https://info.machen.cpa/blog/receivables-rx-key-metrics-to-assess-the-health-of-your-cash-flow) Posted in [Business Advisory](https://info.machen.cpa/blog/topic/business-advisory) ## [The New Law Includes a Game-Changer for Business Payment Reporting](https://info.machen.cpa/blog/the-new-law-includes-a-game-changer-for-business-payment-reporting) ![](https://info.machen.cpa/hubfs/Murry%20Guy%202025%20Updat.jpg) Posted by [Murry Guy, CPA](https://info.machen.cpa/blog/author/murry-guy-cpa) on Aug 05, 2025 [![](https://info.machen.cpa/hubfs/1099-nec%20-2195199346-social.jpg)](https://info.machen.cpa/blog/the-new-law-includes-a-game-changer-for-business-payment-reporting) The One Big Beautiful Bill Act (OBBBA) contains a major overhaul of an outdated IRS requirement. Beginning with payments made in 2026, the new law raises the threshold for information reporting on certain business payments from $600 to $2,000. Beginning in 2027, the threshold amount will be adjusted for inflation. [Full Story](https://info.machen.cpa/blog/the-new-law-includes-a-game-changer-for-business-payment-reporting) Posted in [Business Advisory](https://info.machen.cpa/blog/topic/business-advisory) ## [Back to School Sales Tax Holiday Weekend for 2025](https://info.machen.cpa/blog/back-to-school-sales-tax-holiday-weekend-for-2025) ![](https://info.machen.cpa/hubfs/Murry%20Guy%202025%20Updat.jpg) Posted by [Murry Guy, CPA](https://info.machen.cpa/blog/author/murry-guy-cpa) on Jul 17, 2025 [![](https://info.machen.cpa/hubfs/Back%20to%20school%20-2167113129-2-1.jpeg)](https://info.machen.cpa/blog/back-to-school-sales-tax-holiday-weekend-for-2025) **Alabama's Back-to-School Sales Tax Holiday Weekend: July 18–20, 2025** The State of Alabama will participate in its 20th annual **Back-to-School Sales Tax Holiday Weekend**, beginning **Friday, July 18, 2025, at 12:01 a.m.** and ending at **midnight on Sunday, July 20, 2025**. During this three-day event, shoppers can purchase a variety of school-related items **free of the state’s 4% sales tax**. [Full Story](https://info.machen.cpa/blog/back-to-school-sales-tax-holiday-weekend-for-2025) Posted in [News & Events](https://info.machen.cpa/blog/topic/news-events) ## [How to Prepay Expenses Strategically and Report Them Accurately](https://info.machen.cpa/blog/how-to-prepay-expenses-strategically-and-report-them-accurately) ![](https://info.machen.cpa/hubfs/Murry%20Guy%202025%20Updat.jpg) Posted by [Murry Guy, CPA](https://info.machen.cpa/blog/author/murry-guy-cpa) on Jul 14, 2025 [![](https://info.machen.cpa/hubfs/Prepaid%20-2166964649-1.jpeg)](https://info.machen.cpa/blog/how-to-prepay-expenses-strategically-and-report-them-accurately) In accrual-basis accounting, timing is everything. One core principle of U.S. Generally Accepted Accounting Principles (GAAP) is the matching concept, which requires organizations to recognize expenses in the same period as the revenue they help generate. Prepaid expenses — payments made for goods or services before they’re used — must be handled carefully to conform to this principle. Here’s an overview of the accounting rules for reporting prepaid items and guidance to help you manage them effectively. [Full Story](https://info.machen.cpa/blog/how-to-prepay-expenses-strategically-and-report-them-accurately) Posted in [Accounting & Outsourcing](https://info.machen.cpa/blog/topic/accounting-outsourcing) ## [Dos and Don'ts to Help Protect Your Business Expense Deductions](https://info.machen.cpa/blog/dos-and-donts-to-help-protect-your-business-expense-deductions) ![](https://info.machen.cpa/hubfs/Murry%20Guy%202025%20Updat.jpg) Posted by [Murry Guy, CPA](https://info.machen.cpa/blog/author/murry-guy-cpa) on Jun 24, 2025 [![](https://info.machen.cpa/hubfs/Invoices%20-1011100690-1.jpeg)](https://info.machen.cpa/blog/dos-and-donts-to-help-protect-your-business-expense-deductions) If you’re claiming deductions for business meals or vehicle expenses, expect the IRS to closely review them. In some cases, taxpayers have incomplete documentation or try to create records months (or years) later. In doing so, they fail to meet the strict substantiation requirements set forth under tax law. Tax auditors are adept at rooting out inconsistencies, omissions, and errors in taxpayers’ records, as illustrated by one recent U.S. Tax Court case. (T.C. Memo. 2024-82) [Full Story](https://info.machen.cpa/blog/dos-and-donts-to-help-protect-your-business-expense-deductions) Posted in [Business Tax](https://info.machen.cpa/blog/topic/business-tax) ## [The IRS Recently Announced 2026 Amounts for Health Savings Accounts](https://info.machen.cpa/blog/the-irs-recently-announced-2026-amounts-for-health-savings-accounts) ![](https://info.machen.cpa/hubfs/Murry%20Guy%202025%20Updat.jpg) Posted by [Murry Guy, CPA](https://info.machen.cpa/blog/author/murry-guy-cpa) on Jun 11, 2025 [![](https://info.machen.cpa/hubfs/Health%20Savings%20Account%20-1390297390-1.jpeg)](https://info.machen.cpa/blog/the-irs-recently-announced-2026-amounts-for-health-savings-accounts) The IRS recently released the 2026 inflation-adjusted amounts for Health Savings Accounts (HSAs).Employees will be able to save a modest amount more in their HSAs next year. [Full Story](https://info.machen.cpa/blog/the-irs-recently-announced-2026-amounts-for-health-savings-accounts) Posted in [Tax Updates](https://info.machen.cpa/blog/topic/tax-updates), [Tax Planning](https://info.machen.cpa/blog/topic/tax-planning) [Previous](https://info.machen.cpa/blog/author/murry-guy-cpa/page/1) [Next](https://info.machen.cpa/blog/author/murry-guy-cpa/page/3) Search this site on Google Search Google ### Recent Posts ### Subscribe to Blog ### Posts by Category - [Business Tax (356)](https://info.machen.cpa/blog/topic/business-tax) - [Business Advisory (240)](https://info.machen.cpa/blog/topic/business-advisory) - [Payroll, HR & Benefits (124)](https://info.machen.cpa/blog/topic/payroll-hr-benefits) - [Audit & Assurance (113)](https://info.machen.cpa/blog/topic/audit-assurance) - [Accounting & Outsourcing (81)](https://info.machen.cpa/blog/topic/accounting-outsourcing) - [Individual Tax (75)](https://info.machen.cpa/blog/topic/individual-tax) - [Tax Planning (33)](https://info.machen.cpa/blog/topic/tax-planning) - [Tax Updates (25)](https://info.machen.cpa/blog/topic/tax-updates) - [Retirement & Wealth Management Planning (18)](https://info.machen.cpa/blog/topic/retirement-wealth-management-planning) - [Taxation (15)](https://info.machen.cpa/blog/topic/taxation) - [Alerts (13)](https://info.machen.cpa/blog/topic/alerts) - [Business Valuation (11)](https://info.machen.cpa/blog/topic/business-valuation) - [News & Events (11)](https://info.machen.cpa/blog/topic/news-events) - [Tax News (11)](https://info.machen.cpa/blog/topic/tax-news) - [Individual Tax Planning (10)](https://info.machen.cpa/blog/topic/individual-tax-planning) - [Not For Profit (10)](https://info.machen.cpa/blog/topic/not-for-profit) - [Retirement Planning (9)](https://info.machen.cpa/blog/topic/retirement-planning) - [Estate Planning (8)](https://info.machen.cpa/blog/topic/estate-planning) - [Manufacturing Industry Insights (7)](https://info.machen.cpa/blog/topic/manufacturing-industry-insights) - [Individuals (1)](https://info.machen.cpa/blog/topic/individuals) - [Insider (1)](https://info.machen.cpa/blog/topic/insider) - [Professional Standard News (1)](https://info.machen.cpa/blog/topic/professional-standard-news) see all [![Returning\_Value](https://info.machen.cpa/hs-fs/file-2504250850-jpg/Machen-Blog-Image/Returning_Value.jpg)](http://machenmcchesney.com/about-us/mission-and-values/) - [![AICPA](https://machenmcchesney.com/img/logos/aicpa.jpg)](https://www.aicpa-cima.com/) - [![NACVA](https://machenmcchesney.com/img/logos/nacva.jpg)](http://www.nacva.com/) - ![2026 INSIDE Public Accounting Top 400](https://machenmcchesney.com/img/2026-ipa-top-400.jpg) - ![2026 Best of Auburn-Opelika](https://machenmcchesney.com/img/2026-best-of-auburn-opelika.jpg) - [![2025 Best of OA](https://machenmcchesney.com/img/2025-best-of-oa.jpg)](https://oanow.com/exclusive/readerschoice/ballot-2025/) - ![2026 Best of OA Winner](https://machenmcchesney.com/img/2026-best-of-oa-winner.jpg) - [![2025 Accounting Today Regional Leaders](https://machenmcchesney.com/img/2025-accounting-today-regional-leaders.jpg)](https://www.accountingtoday.com/) - [![ClearlyRated Best of Accounting](https://machenmcchesney.com/img/2024-best-of-accounting.jpg)](https://www.clearlyrated.com/accounting) - [![ClearlyRated Best of Accounting Employee](https://machenmcchesney.com/img/2024-best-of-accounting-employee.jpg)](https://www.clearlyrated.com/accounting) 1820 East University Drive, Auburn, AL 36830 | Tel: (334) 887-7022 | Fax: (334) 887-7221 1761 Taliaferro Trail, Montgomery, AL 36117 | Tel: (334) 244-8900 | Fax: (334) 364-0927 † This is not a CPA firm. \* Assurance, attest, and audit services provided by Frazier & Deeter, LLC. “Frazier & Deeter” is the brand name under which Frazier & Deeter, LLC\* and Frazier & Deeter Advisory, LLC† and its subsidiary entities provide professional services. 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