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The Value Report - Machen McChesney Business Advisory Insights

At Machen McChesney we are committed to Returning Value to you through our monthly e-newsletter, The Value Report.

Here you'll find regular tips to help with your business and personal finances, as well as strategies to grow and more efficiently run your organization.  

Table of Content

  1. The IRS is Targeting Business Transactions in Bitcoin and Other Virtual Currencies
  2. Attention: Accounting Rule Delays in the Works
  3. What to Do If Your business Receives a "No-Match" Letter
  4. Top 10 Trends in the Nonprofit Industry
  5. Should You Elect S Corporation Status?
  6. What to Expect During a Franchise Audit
  7. The Tax Implications of a Company Car
  8. Trying to Sell Your Business?
  9. What's New at Machen McChesney

The IRS is Targeting Business Transactions in Bitcoin and Other Virtual CurrenciesiStock-823466626-1

Bitcoin and other forms of virtual currency are gaining popularity. But many businesses, consumers, employees, and investors are still confused about how they work and how to report transactions on their federal tax returns. And the IRS just announced that it is targeting virtual currency users in a new “educational letter” campaign. Continue reading.

Attention: Accounting Rule Delays in the WorksiStock-953431802-1On July 17, the Financial Accounting Standards Board (FASB) voted to issue a proposal that would delay several landmark accounting rules for certain companies. If finalized, the deferral would apply to new guidance for reporting leases, hedging transactions, credit losses, and long-term insurance contracts. Continue reading.

What to Do If Your Business Receives a "No-Match" LetteriStock-481771928-1In the past few months, many businesses and employers nationwide have received “no-match” letters from the Social Security Administration (SSA). The purpose of these letters is to alert employers if there’s a discrepancy between the agency’s files and data reported on W-2 forms, which are given to employees and filed with the IRS. Specifically, they point out that an employee’s name and Social Security number (SSN) don’t match the government’s records. Continue reading 

Top 10 Trends in the Nonprofit IndustryiStock-667128036-1The nonprofit industry is anything but static. Many outside factors impact their daily operations. Following is a list of what some believe to be the top 10 trends that are currently impacting nonprofit organizations. Continue reading   

Should You Elect S Corporation Status?iStock-1162652677-1Operating a business as an S corporation may provide many advantages, including limited liability for owners and no double taxation (at least at the federal level). Self-employed people may also be able to lower their exposure to Social Security and Medicare taxes if they structure their businesses as S corps for federal tax purposes. But not all businesses are eligible — and with changes under the Tax Cuts and Jobs Act, S corps may not be as appealing as they once were. Continue reading

What to Expect During a Franchise AuditiStock-523966971-1It’s important for franchisors to periodically audit individual franchisees. These routine “check-ups” are especially valuable in a store’s early years of operations or if performance starts to deteriorate. They can be used to detect symptoms of unhealthy performance and treat problems before they spiral out of control. Continue reading. 

The Tax Implications of a Company CariStock-917522356-1-1

The use of a company vehicle is a valuable fringe benefit for owners and employees of small businesses. This benefit results in tax deductions for the employer as well as tax breaks for the owners and employees using the cars. (And of course, they get the nontax benefits of driving the cars!) Even better, recent tax law changes and IRS rules make the perk more valuable than before. Continue reading.

Trying to Sell Your Business?Selling a business infographic 3If you are considering selling your business, you may want to read this first, before you try. Continue reading. 

What's New at Machen McChesney?


Sponsorships, new hires, announcements
Continue reading

We hope you found value in The Value Report you've received this month. We look forward to finding even more ways to Return Value to you in the future. 

Please feel free to visit our website or visit our blog at any time during the month to interact with additional valuable resources and helpful information.
If you have any questions on the topics above, please feel free to send us a message.
Machen McChesney 
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