As financial statement preparers approach the end of 2015, they should be aware of accounting rule changes and their effects on how to prepare 2015 financial statements.
Posted in Accounting & Outsourcing
How can you get your business off to a good start in 2016? There are no guarantees, but it certainly helps to plan ahead. Specifically, you should draw up a business plan before year-end to put into motion on January 1. If you have developed a plan in prior years, you can refer to it when developing a new one, but you do not necessarily have to be wedded to what you have done in the past.
Essentially, a business plan is a blueprint for running the company, but a comprehensive plan can do much more than that. Here are several typical benefits you might realize from a business plan:
After fighting the rat race for years, many Americans dream of an early retirement. For instance, you might be contemplating such a move on your own, or perhaps your company is preparing to make you an early retirement offer. Whether or not you can afford to retire early, or really want to, may depend on the answers to the following questions.
Posted in Retirement Planning
Don’t think that year-end tax planning is strictly limited to individuals. A calendar-year business can also keep taxes for 2015 to the bare minimum with some astute planning at the end of the year. Here are five techniques for consideration by small-business owners.
Posted in Tax Updates
As another year draws to a close, the tax moves you make or don’t make, can have a significant impact on your 2015 tax return. Fortunately, there are plenty of tax-saving opportunities available to individual taxpayers, even if certain tax provisions are not resolved until the waning days of the year. Here are seven ways you may be able to reduce your tax bill for 2015.
Posted in Tax Updates
Effective June 30, 2015, governmental employers are required to report their net pension liability (NPL) in the full accrual financial statements.
Most companies think that fraud is something that happens within other companies or bigger companies or even companies that don’t have proper controls in place. But the truth is, it can happen in any organization. Fraud occurs in large and small organizations, for-profits and nonprofits, and even in organizations where management has implemented every control and procedure to try to prevent it. The Department of Revenue estimates nearly a third of employees commit some degree of employee theft.
Machen McChesney is currently seeking an energetic, goal-oriented individual to join our practice as a Tax Supervisor.
Despite its off-putting name, a “Crummey trust” can provide favorable results for individuals who have a significant amount of assets. This device might be incorporated into a comprehensive estate plan.
Are you planning a business trip to a distant city? If the destination is known for its cultural attractions or recreational activities, you might want to combine your business with a little pleasure. In fact, this could be a chance to get away after the children have gone back to school or to just spend some quality “alone time” with your spouse.
Posted in Business Tax
