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 run your organization more efficiently. 

Table of Content

1. Hiring a Bookkeeper for Your Small Business
2. 6 Last-Minute Tax Tips for Businesses
3. New Law Eases the Limitation on Business Interest Expense Deductions for 2025 and Beyond
4. 2025 Year-End Tax Planning Guide for Individuals
5. Using the Audit Management Letter as a Strategic Tool
6. Year-End Reminder: Don't Overlook Your PTO Accruals
7. Significant Changes to Information Reporting Go Into Effect for the 2026 Tax Year
8. IRS Makes Retirement Plan Changes for 2026
9. What's New at Machen McChesney

Hiring a Bookkeeper for Your Small Business

Choosing the right bookkeeper is one of the most important staffing decisions your business will make. A skilled bookkeeper maintains accurate financial records, manages cash flow, and ensures compliance with accounting and tax requirements. But finding the right person can be challenging, especially in today’s competitive job market. Whether you’re replacing a long-time team member or hiring for the first time, here are some key factors to consider when interviewing candidates. Continue reading.

6 Last-Minute Tax Tips for Businesses

Year-round tax planning generally produces the best results, but there are some steps you can still take in December to lower your 2025 taxes. Here are six to consider: Continue reading. 

New Law Eases the Limitation on Business Interest Expense Deductions for 2025 and Beyond

Interest paid or accrued by a business is generally deductible for federal tax purposes. But limitations apply. Now, some changes under the One Big Beautiful Bill Act (OBBBA) will result in larger deductions for affected taxpayers. Continue reading. 

Using the Audit Management Letter as a Strategic Tool

Year-end is fast approaching. Calendar-year entities that issue audited financial statements may be gearing up for the start of audit fieldwork — closing their books, preparing schedules, and coordinating with external auditors. But there’s one valuable audit deliverable that often gets overlooked: the management letter (sometimes called the “internal control letter” or “letter of recommendations”). Continue reading. 

Year-End Reminder: Don't Overlook Your PTO Accruals

As 2025 winds down, it’s important to review your company’s accounting for unused paid time off (PTO). Many employers allow employees to carry forward unused vacation, sick leave, or personal time. This policy may create liabilities under U.S. Generally Accepted Accounting Principles (GAAP) — and, if your staff tends to bank time off, your PTO accrual may be larger than expected. Here’s what to consider as you finalize your financials. Continue reading.

Significant Changes to Information Reporting Go Into Effect for the 2026 Tax Year

If your business has employees or uses independent contractors, you have associated annual information reporting obligations. The One Big Beautiful Bill Act (OBBBA) makes changes impacting these rules, but not for the 2025 tax year. Continue reading.

IRS Makes Retirement Plan Changes for 2026

The Internal Revenue Service has issued a release explaining changes in retirement plan limits for 2026. Below is a summary of this release. The provisions can be complex, so current and prospective plan participants should work with a financial professional. 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.