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Returning Value Blog

Real Estate Wealth Transfer Strategies

Posted by Marty Williams, CPA on Jun 13, 2024

For high-net-worth individuals, the art of wealth transfer extends beyond merely providing financial assistance to future generations; it is about strategically positioning the next generation for personal success. Unfortunately, it also requires navigating a complex landscape of income, gift, and estate taxes. 

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Posted in Retirement & Wealth Management Planning

Major Overtime Change Will Deeply Affect Employers

Posted by Murry Guy, CPA on Jun 12, 2024

According to a Department of Labor release, 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.

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Posted in Business Advisory

Should You Convert Your Business From a C to an S Corporation?

Posted by Jessica L. Pagan, CPA on Jun 11, 2024

Choosing the right business entity has many implications, including the amount of your tax bill. The most common business structures are sole proprietorships, partnerships, limited liability companies, C corporations, and S corporations.

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Posted in Business Tax

Surprise Audits Are Proven to Fight Fraud

Posted by Melissa Motley, CPA on Jun 05, 2024

Four antifraud controls are associated with at least a 50% reduction in both fraud loss and duration, according to “Occupational Fraud 2024: A Report to the Nations” published by the Association of Certified Fraud Examiners (ACFE). They are financial statement audits, reporting hotlines, surprise audits, and proactive data analysis. However, the ACFE study also found that two of these — surprise audits and proactive data analysis — are among the least commonly implemented controls. Here’s how your organization might benefit from conducting periodic surprise audits.

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Posted in Audit & Assurance

Earned Wage Access: What's the Story?

Posted by Amber Cochran on Jun 04, 2024

On the surface, earned wage access is a simple, effective employee benefit; for a small fee — typically less than $5.00 per transaction — employees can access a portion of their paycheck before their actual payday. Many workers have minimal savings in the event of an emergency, and EWA can be a far less expensive alternative to high-interest payday loans.

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Posted in Payroll, HR & Benefits

Inflation Enhances the 2025 Amounts for Health Savings Accounts

Posted by Amber Cochran on Jun 04, 2024

The IRS recently released guidance providing the 2025 inflation-adjusted amounts for Health Savings Accounts (HSAs). These amounts are adjusted each year, based on inflation, and the adjustments are announced earlier in the year than other inflation-adjusted amounts, which allows employers to get ready for the next year.

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Posted in Payroll, HR & Benefits

4 Bookkeeping Pitfalls for Small Businesses to Avoid

Posted by Chris Earnest on May 28, 2024

Accurate bookkeeping is essential to operating a successful small business. The problems created by inadequate bookkeeping practices can have significant, long-lasting consequences. Here are four common pitfalls — and how to avoid them with the right knowledge and tools.

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Posted in Accounting & Outsourcing

Tax Tips When Buying the Assets of a Business

Posted by Lesley L. Price, CPA on May 20, 2024

After experiencing a downturn in 2023, merger and acquisition activity in several sectors is rebounding in 2024. If you’re buying a business, you want the best results possible after taxes. You can potentially structure the purchase in two ways:

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Posted in Business Tax

The Tax Advantages of Including Debt in a C Corporation Capital Structure

Posted by Nick Wheeler, CPA on May 16, 2024

Let’s say you plan to use a C corporation to operate a newly acquired business or you have an existing C corporation that needs more capital. You should know that the federal tax code treats corporate debt more favorably than corporate equity. So for shareholders of closely held C corporations, it can be a tax-smart move to include in the corporation’s capital structure:

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Posted in Business Tax

It's Almost Time for a Midyear Checkup on Your Company's Financial Health

Posted by Jessica L. Pagan, CPA on May 15, 2024

Interim financial reporting is essential to running a successful business. When reviewing midyear financial reports, however, you should recognize their potential shortcomings. These reports might not be as reliable as year-end financials unless a CPA prepares them or performs agreed-upon procedures on specific accounts.

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Posted in Audit & Assurance

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