--- title: Machen McChesney Blog | Murry Guy, CPA (4) description: (4) --- [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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The Social Security Administration recently announced that the wage base for computing Social Security tax will increase to $176,100 for 2025 (up from $168,600 for 2024). Wages and self-employment income above this amount aren’t subject to Social Security tax. [Full Story](https://info.machen.cpa/blog/employers-in-2025-the-social-security-wage-base-is-going-up) Posted in [Business Advisory](https://info.machen.cpa/blog/topic/business-advisory) ## [Understanding Your Obligations: Does Your Business Need to Report Employee Health Coverage?](https://info.machen.cpa/blog/understanding-your-obligations-does-your-business-need-to-report-employee-health-coverage) ![](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 03, 2024 [![](https://info.machen.cpa/hubfs/1095%20C%20form%20510230858-1.jpeg)](https://info.machen.cpa/blog/understanding-your-obligations-does-your-business-need-to-report-employee-health-coverage) Employee health coverage is a significant part of many companies’ benefits packages. However, the administrative responsibilities that accompany offering health insurance can be complex. One crucial aspect is understanding the reporting requirements of federal agencies such as the IRS. Does your business have to comply, and if so, what must you do? Here are some answers to questions you may have. [Full Story](https://info.machen.cpa/blog/understanding-your-obligations-does-your-business-need-to-report-employee-health-coverage) Posted in [Business Advisory](https://info.machen.cpa/blog/topic/business-advisory) ## [Cutoffs: When to Report Revenue and Expenses](https://info.machen.cpa/blog/cutoffs-when-to-report-revenue-and-expenses) ![](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 25, 2024 [![](https://info.machen.cpa/hubfs/Roll%20over%20the%20year%20from%202024%20to%202025%201716596059-1.jpeg)](https://info.machen.cpa/blog/cutoffs-when-to-report-revenue-and-expenses) Timing is critical in financial reporting. Under accrual-basis accounting, the end of the accounting period serves as a “cutoff” for when companies recognize revenue and expenses. However, some companies may be tempted to play timing games, especially at year-end, to boost financial results or lower taxes. [Full Story](https://info.machen.cpa/blog/cutoffs-when-to-report-revenue-and-expenses) Posted in [Business Advisory](https://info.machen.cpa/blog/topic/business-advisory) ## [Will Outsourcing Your Accounting Impact Your Business Operations](https://info.machen.cpa/blog/will-outsourcing-your-accounting-impact-your-business-operations) ![](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 07, 2024 [![](https://info.machen.cpa/hubfs/Outsourcing%20Accounting%20-470792443-1.jpeg)](https://info.machen.cpa/blog/will-outsourcing-your-accounting-impact-your-business-operations) C-level executives today face crucial accounting and finance challenges, including the ongoing shortage of accounting professionals, the struggle to keep up with technology (including AI), and the generally inflationary cost environment. While it may be tempting to view the finance and accounting (F&A) function as an overhead expense to be managed, this approach severely underestimates the F&A function’s strategic impact on business operations. Outsourcing can play a critical role in optimizing the performance and cost of the F&A function, especially when its use is tailored to the company’s specific needs. [Full Story](https://info.machen.cpa/blog/will-outsourcing-your-accounting-impact-your-business-operations) Posted in [Accounting & Outsourcing](https://info.machen.cpa/blog/topic/accounting-outsourcing) ## [Consider Borrowing From Your Corporation But Structure the Deal Carefully](https://info.machen.cpa/blog/consider-borrowing-from-your-corporation-but-structure-the-deal-carefully) ![](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, 2024 [![](https://info.machen.cpa/hubfs/Loan%20-1481573165-1.jpeg)](https://info.machen.cpa/blog/consider-borrowing-from-your-corporation-but-structure-the-deal-carefully) If you own a closely held corporation, you can borrow funds from your business at rates that are lower than those charged by a bank. However, it’s important to avoid certain risks and charge an adequate interest rate. [Full Story](https://info.machen.cpa/blog/consider-borrowing-from-your-corporation-but-structure-the-deal-carefully) Posted in [Business Advisory](https://info.machen.cpa/blog/topic/business-advisory) ## [Major Overtime Change Will Deeply Affect Employers](https://info.machen.cpa/blog/major-overtime-change-will-deeply-affect-employers) ![](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 12, 2024 [![](https://info.machen.cpa/hubfs/Payroll%20-2032568010-1.jpeg)](https://info.machen.cpa/blog/major-overtime-change-will-deeply-affect-employers) According to a [Department of Labor release](https://www.dol.gov/newsroom/releases/whd/whd20240423-0), a newly issued rule increases the salary threshold required to exempt a salaried bona fide executive, administrative, or professional employee from federal overtime pay requirements. [Full Story](https://info.machen.cpa/blog/major-overtime-change-will-deeply-affect-employers) Posted in [Business Advisory](https://info.machen.cpa/blog/topic/business-advisory) ## [4 Cost-Cutting Areas to Help Your Business Boost Profits](https://info.machen.cpa/blog/4-cost-cutting-area-to-help-your-business-boost-profits) ![](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 May 09, 2024 [![](https://info.machen.cpa/hubfs/Cutting%20expenses%20-1459013304-1.jpeg)](https://info.machen.cpa/blog/4-cost-cutting-area-to-help-your-business-boost-profits) Many businesses focus on selling more products and services to boost profitability. But sales volume alone doesn’t necessarily raise profits. In fact, pushing more sales through a bloated expense structure can result in lower net profits. [Full Story](https://info.machen.cpa/blog/4-cost-cutting-area-to-help-your-business-boost-profits) Posted in [Business Advisory](https://info.machen.cpa/blog/topic/business-advisory) ## [Scrupulous Records and Legitimate Business Expenses Are The Key to Less Painful IRS Audits](https://info.machen.cpa/blog/scrupulous-records-and-legitimate-business-expenses-are-the-key-to-less-painful-irs-audits) ![](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 Apr 11, 2024 [![](https://info.machen.cpa/hubfs/Accounting%20records%201181565015-1.jpeg)](https://info.machen.cpa/blog/scrupulous-records-and-legitimate-business-expenses-are-the-key-to-less-painful-irs-audits) If you operate a business, or you’re starting a new one, you know records of income and expenses need to be kept. Specifically, you should carefully record expenses to claim all the tax deductions to which you’re entitled. And you want to make sure you can defend the amounts reported on your tax returns in case you’re ever audited by the IRS. [Full Story](https://info.machen.cpa/blog/scrupulous-records-and-legitimate-business-expenses-are-the-key-to-less-painful-irs-audits) Posted in [Business Advisory](https://info.machen.cpa/blog/topic/business-advisory) ## [How to Minimize Billing Bottlenecks](https://info.machen.cpa/blog/how-to-minimize-billing-bottlenecks) ![](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 Mar 18, 2024 [![](https://info.machen.cpa/hubfs/Paid%20in%20full-2047618229-1.jpeg)](https://info.machen.cpa/blog/how-to-minimize-billing-bottlenecks) Managing accounts receivable can be challenging, especially in an uncertain economy. To keep your company financially fit, it’s a good idea to occasionally revisit your billing and collections processes to ensure they’re as efficient and effective as possible. Consider these helpful tips. [Full Story](https://info.machen.cpa/blog/how-to-minimize-billing-bottlenecks) Posted in [Business Advisory](https://info.machen.cpa/blog/topic/business-advisory) ## [New Independent Contractor Rules: Do They Affect Your Employees?](https://info.machen.cpa/blog/new-independent-contractor-rules-do-they-affect-your-employees) ![](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 Feb 23, 2024 [![](https://info.machen.cpa/hubfs/Independent%20Contractor%20-1082068124-1.jpeg)](https://info.machen.cpa/blog/new-independent-contractor-rules-do-they-affect-your-employees) The Department of Labor's final rule for employee or independent contractor classification under the Fair Labor Standards Act rescinds the 2021 Independent Contractor Rule, replacing it with guidance on analysis that's more consistent with the FLSA as interpreted by longstanding judicial precedent and was scheduled to take effect March 11, 2024. [Full Story](https://info.machen.cpa/blog/new-independent-contractor-rules-do-they-affect-your-employees) Posted in [Business Advisory](https://info.machen.cpa/blog/topic/business-advisory) [Previous](https://info.machen.cpa/blog/author/murry-guy-cpa/page/3) [Next](https://info.machen.cpa/blog/author/murry-guy-cpa/page/5) 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 (242)](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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