Returning Value Blog

If your business utilizes foreign employees (aka, aliens), it is critical that you correctly comply with IRS regulations concerning payments to foreign workers. Understanding and complying with these regulations is crucial. Still, businesses of nearly every size and scope seem to struggle with correctly reporting these kinds of wages.

Sadly, tax scams are a never-ending problem, and each year, we see a new crop emerge. While tactics may differ from one scam to another, each uses deception to try and separate you from your money—and in doing so, cause significant financial and personal harm.

Small-business owners must remain alert 

It seems to be in the news every other day: A trusted longtime employee is found guilty of embezzling money from his or her employer. This may give you momentary pause, but then it is likely that you will simply continue to go about your business. After all, this cannot happen to you—can it? 

Compare actual expenses with flat-rate method

Did you use your vehicle for business driving in 2016? Generally, you can deduct expenses on your tax return in one of two ways: the actual expense method or the IRS-approved standard mileage rate. Here is a brief comparison:  

Machen McChesney offers several industry-specific knowledge and expertise.  One of these industries is the Manufacturing, Distribution & Automotive sector.  Machen McChesney has the skill set to provide guidance to help your business reduce labor and production cost, help optimize inventory management systems and controls, and the ability to ensure you are paying the correct sales and use tax rates.  

As another tax season quickly approaches, foreign bank account holders should be aware of new filing deadlines regarding Form 114, Report of Foreign Bank and Financial Accounts (FBAR).

The most common components of a basic estate plan: a will, living will, life insurance, and maybe even a trust. Most adults know the importance of these estate planning elements, and may even have some or all of them implemented – which, overall, is great. But like everything in life, change happens, and updates will be necessary to some, if not all, of these documents. Here we have laid out the most common mistakes found in estate planning:

The required rate of return is just one of many components used in the calculations used in corporate finance and equity valuation. It goes beyond identifying the return of the investment, and factors in risk as one of the essential considerations in determining potential return. 

There’s little doubt that the economy as a whole closed out 2016 on a particularly high note as the Dow Jones Industrial Average nearly reached the unprecedented 20,000 mark. But despite that broad performance, did the manufacturing sector in particular fare similarly well during this past year?

Section 179 provides generous tax break

There is a unique tax break for business entities of all shapes and sizes contained in Section 179 of the Internal Revenue Code. Under this section, a business can elect to “expense,” or currently deduct, the cost of qualified property placed in service during the year, up to a maximum level. It is near-instant tax gratification.