--- title: Machen McChesney Blog | Accounting & Outsourcing (6) description: Accounting & Outsourcing | (6) --- [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) - [Google](https://plus.google.com/101356546927388458481) - [Twitter](https://twitter.com/machenmcchesney) - About Us - [Welcome](http://machenmcchesney.com/about-us/welcome/) - [Affiliations and Associations](http://machenmcchesney.com/about-us/affiliations-and-associations/) - [Community Events](http://machenmcchesney.com/about-us/community-events/) - [Family of Companies](http://machenmcchesney.com/about-us/family-of-companies/) - [History](http://machenmcchesney.com/about-us/firm-profile-history/) - [Mission and Values](http://machenmcchesney.com/about-us/mission-and-values/) - [Team Directory](http://machenmcchesney.com/about-us/team-directory/) - Services - [Accounting & Outsourcing](http://machenmcchesney.com/services/accounting-outsourcing/) - [Audit and Assurance Services](http://machenmcchesney.com/services/audit-assurance/) - [Business Advisory Services](http://machenmcchesney.com/services/business-advisory/) - [Business Valuation Services](http://machenmcchesney.com/services/business-valuation-services/) - [Family Office Services](http://machenmcchesney.com/services/family-care/) - [Financial Planning & Wealth Mangement Services](http://machenmcchesney.com/services/financial-planning-and-wealth-mangement-services/) - [Individual Services](http://machenmcchesney.com/services/individuals/) - [Taxation](http://machenmcchesney.com/services/taxation/) - Who We Serve - [Construction & Real Estate](http://machenmcchesney.com/industries/construction-real-estate/) - [Credit Unions](http://machenmcchesney.com/industries/credit-unions/) - [Government & Not-For-Profits](http://machenmcchesney.com/industries/governmental-not-for-profit/) - [Healthcare & Professional Services](http://machenmcchesney.com/industries/healthcare-and-professional-services/) - [Hospitality, Restaurant & Retail](http://machenmcchesney.com/industries/hospitality-restaurant-retail/) - [Manufacturing, Distribution & Automotive](http://machenmcchesney.com/industries/manufacturing-distribution-automotive/) - [Success Stories](http://machenmcchesney.com/success-stories) - Resources - [Blog](https://info.machenmcchesney.com/blog) - [E-Newsletter Archive](http://machenmcchesney.com/resources/e-newsletter-archive/) - [Financial Calculators](http://machenmcchesney.com/resources/financial-calculators/) - [Financial Terms Glossary](http://machenmcchesney.com/resources/financial-terms-glossary/) - [Helpful Articles](http://machenmcchesney.com/resources/newsletter/) - [Tax Calendar](http://machenmcchesney.com/resources/tax-calendar/) - [Tax Links](http://machenmcchesney.com/resources/tax-links/) - [Track Your Refund](http://machenmcchesney.com/resources/track-your-refund/) - [Sign Up for Our E-Newsletter](http://machenmcchesney.com/resources/e-newsletter/) - [Subscribe to Our Blog](http://machenmcchesney.com/resources/subscribe-to-the-machen-mcchesney-blog/) - News & Events - [Press Releases](http://machenmcchesney.com/news-events/press-releases/) - [Upcoming Events](http://machenmcchesney.com/news-events/upcoming-events/) - Careers - [Our Culture](http://machenmcchesney.com/careers/culture/) - [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 ## [Forecasting For 2021](https://info.machen.cpa/blog/forecasting-for-2021) ![](https://info.machen.cpa/hubfs/Jessica%20Pagan%202025%20update%20.jpg) Posted by [Jessica L. Pagan, CPA](https://info.machen.cpa/blog/author/jessica-l-pagan-cpa) on Jan 22, 2021 [![](https://info.machen.cpa/hubfs/2021-1270827313-1.jpeg)](https://info.machen.cpa/blog/forecasting-for-2021) Planning for what lies ahead is an important part of running a healthy business. Forecasting your company’s financial statements can help you manage inventory and other working capital accounts, offer competitive prices, identify impending cash flow shortages and keep your business on solid financial footing. [Full Story](https://info.machen.cpa/blog/forecasting-for-2021) Posted in [Accounting & Outsourcing](https://info.machen.cpa/blog/topic/accounting-outsourcing) ## [Health Savings Accounts for Your Small Business](https://info.machen.cpa/blog/health-savings-accounts-for-your-small-business) ![](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 18, 2020 [![](https://info.machen.cpa/hubfs/HSA-1213836940-1.jpeg)](https://info.machen.cpa/blog/health-savings-accounts-for-your-small-business) Small business owners are well aware of the increasing cost of employee health care benefits. As a result, your business may be interested in providing some of these benefits through an employer-sponsored Health Savings Account (HSA). Or perhaps you already have an HSA. It’s a good time to review how these accounts work since the IRS recently announced the relevant inflation-adjusted amounts for 2021. [Full Story](https://info.machen.cpa/blog/health-savings-accounts-for-your-small-business) Posted in [Accounting & Outsourcing](https://info.machen.cpa/blog/topic/accounting-outsourcing) ## [The President's Action to Defer Payroll Taxes: What Does It Mean for Your Business?](https://info.machen.cpa/blog/the-presidents-action-to-defer-payroll-taxes-what-does-it-mean-for-your-business) ![](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 17, 2020 [![](https://info.machen.cpa/hubfs/Payroll-1003358280-1.jpeg)](https://info.machen.cpa/blog/the-presidents-action-to-defer-payroll-taxes-what-does-it-mean-for-your-business) On August 8, President Trump signed four executive actions, including a Presidential Memorandum, to defer the employee’s portion of Social Security taxes for some people. These actions were taken in an effort to offer more relief due to the COVID-19 pandemic. [Full Story](https://info.machen.cpa/blog/the-presidents-action-to-defer-payroll-taxes-what-does-it-mean-for-your-business) Posted in [Accounting & Outsourcing](https://info.machen.cpa/blog/topic/accounting-outsourcing) ## [Businesses: Get Ready for the New Form 1099-NEC](https://info.machen.cpa/blog/businesses-get-ready-for-the-new-form-1099-nec) ![](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 13, 2020 [![](https://info.machen.cpa/hubfs/Tax-478456545-1.png)](https://info.machen.cpa/blog/businesses-get-ready-for-the-new-form-1099-nec) There’s a new IRS form for business taxpayers that pay or receive nonemployee compensation. [Full Story](https://info.machen.cpa/blog/businesses-get-ready-for-the-new-form-1099-nec) Posted in [Accounting & Outsourcing](https://info.machen.cpa/blog/topic/accounting-outsourcing) ## [Is It Time to Outsource Finance and Accounting?](https://info.machen.cpa/blog/is-it-time-to-outsource-finance-and-accounting) ![](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 25, 2020 [![](https://info.machen.cpa/hubfs/Outsourcing-469480672-1.png)](https://info.machen.cpa/blog/is-it-time-to-outsource-finance-and-accounting) Outsourcing may appeal to organizations that are currently struggling with mounting overhead costs during the COVID-19 crisis. By outsourcing, you convert certain fixed overhead costs associated with compensating and supporting employees into variable costs that can be scaled back in an economic downturn — or dialed up in times of growth and transition. [Full Story](https://info.machen.cpa/blog/is-it-time-to-outsource-finance-and-accounting) Posted in [Accounting & Outsourcing](https://info.machen.cpa/blog/topic/accounting-outsourcing) ## [Good Records Are the Key to Tax Deductions and Trouble-free IRS Audits](https://info.machen.cpa/blog/good-records-are-the-key-to-tax-deductions-and-trouble-free-irs-audits) ![](https://info.machen.cpa/hubfs/1781__Lisa_Albritton_WEB.jpg) Posted by [Lisa Albritton](https://info.machen.cpa/blog/author/lisa-albritton) on Jun 15, 2020 [![](https://info.machen.cpa/hubfs/Audit%20records-1168185036-1.png)](https://info.machen.cpa/blog/good-records-are-the-key-to-tax-deductions-and-trouble-free-irs-audits) If you operate a small business, or you’re starting a new one, you probably know you need to keep records of your income and expenses. In particular, you should carefully record your expenses in order to claim the full amount of the tax deductions to which you’re entitled. And you want to make sure you can defend the amounts reported on your tax returns if you’re ever audited by the IRS or state tax agencies. [Full Story](https://info.machen.cpa/blog/good-records-are-the-key-to-tax-deductions-and-trouble-free-irs-audits) Posted in [Accounting & Outsourcing](https://info.machen.cpa/blog/topic/accounting-outsourcing) ## [5 Steps to Streamline the Month-end Close](https://info.machen.cpa/blog/5-steps-to-streamline-the-month-end-close) ![](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 09, 2020 [![](https://info.machen.cpa/hubfs/Calendar%20month%20end-539105097-1.png)](https://info.machen.cpa/blog/5-steps-to-streamline-the-month-end-close) Many companies struggle to close the books at the end of the month. The month-end close requires accounting personnel to round up data from across the organization. Under normal conditions, this process can strain internal resources. [Full Story](https://info.machen.cpa/blog/5-steps-to-streamline-the-month-end-close) Posted in [Accounting & Outsourcing](https://info.machen.cpa/blog/topic/accounting-outsourcing) ## [Paycheck Protection Program Loan and Forgiveness Best Practices](https://info.machen.cpa/blog/paycheck-protection-program-loan-and-forgiveness-best-practices) ![](https://info.machen.cpa/hubfs/Nick%20Wheeler%202025%20update.jpg) Posted by [Nick Wheeler, CPA](https://info.machen.cpa/blog/author/nick-wheeler-cpa) on Jun 03, 2020 [![](https://info.machen.cpa/hubfs/PPP%20Loan-1222797787-1.png)](https://info.machen.cpa/blog/paycheck-protection-program-loan-and-forgiveness-best-practices) The Coronavirus Aid, Relief, and Economic Security Act (CARES Act) was signed into law on March 27, 2020, and authorized more than $2 Trillion in aid to battle COVID-19 and the economic effects it was having on the U.S. This provided for immediate cash payments to individual citizens, loan programs for small businesses, support for the medical industry and providers directly impacted, and various other economic relief packages for impacted businesses. [Full Story](https://info.machen.cpa/blog/paycheck-protection-program-loan-and-forgiveness-best-practices) Posted in [Accounting & Outsourcing](https://info.machen.cpa/blog/topic/accounting-outsourcing) ## [Government Assistance Programs: Are You Ready for Scrutiny?](https://info.machen.cpa/blog/government-assistance-programs-are-you-ready-for-scrutiny) ![](https://info.machen.cpa/hubfs/Nick%20Wheeler%202025%20update.jpg) Posted by [Nick Wheeler, CPA](https://info.machen.cpa/blog/author/nick-wheeler-cpa) on May 14, 2020 [![](https://info.machen.cpa/hubfs/Compliance-905393092-1.png)](https://info.machen.cpa/blog/government-assistance-programs-are-you-ready-for-scrutiny) **Organizations of all shapes and sizes have sought to take advantage of government assistance and programs to help their business persevere and maintain operations during the COVID-19 pandemic.** [Full Story](https://info.machen.cpa/blog/government-assistance-programs-are-you-ready-for-scrutiny) Posted in [Accounting & Outsourcing](https://info.machen.cpa/blog/topic/accounting-outsourcing) ## [Hiring Independent Contractors? Make Sure They're Properly Classified](https://info.machen.cpa/blog/hiring-independent-contractors-make-sure-theyre-properly-classified) ![](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 04, 2020 [![](https://info.machen.cpa/hubfs/Independent%20Contractor-1124400624-1.png)](https://info.machen.cpa/blog/hiring-independent-contractors-make-sure-theyre-properly-classified) As a result of the coronavirus (COVID-19) crisis, your business may be using independent contractors to keep costs low. But you should be careful that these workers are properly classified for federal tax purposes. If the IRS reclassifies them as employees, it can be an expensive mistake. [Full Story](https://info.machen.cpa/blog/hiring-independent-contractors-make-sure-theyre-properly-classified) Posted in [Accounting & Outsourcing](https://info.machen.cpa/blog/topic/accounting-outsourcing) [Previous](https://info.machen.cpa/blog/topic/accounting-outsourcing/page/5) [Next](https://info.machen.cpa/blog/topic/accounting-outsourcing/page/7) 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 (239)](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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