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. Balancing the Books: Regular Bank Reconciliations Are Essential for a Successful Business
2. The Tax Treatment of Intangible Assets
3. Now or Later: When Should Your Company Implement the New Crypto Reporting Guidance?
4. How Section 1231 Gains and Losses Affect Business Asset Sales
5. Small Business Strategy: A Heavy Vehicle Plus a Home Office Equals Tax Savings
6. The Standard Business Mileage Rate Increased in 2025
7. Beyond the Financials: What's a Quality of Earnings Report?
8. Fraud Risk Assessment: What Auditors Watch For
9. What's New at Machen McChesney

Balancing the Books: Regular Bank Reconciliations Are Essential for a Successful Business

How often do you reconcile your company’s internal financial records against your bank statements? Bank reconciliations are an essential internal control procedure that busy owners and managers sometimes overlook or neglect. Here’s why it pays to perform them regularly. Continue reading.

The Tax Treatment of Intangible Assets

Intangible assets, such as patents, trademarks, copyrights, and goodwill, play a crucial role in today’s businesses. The tax treatment of these assets can be complex, but businesses need to understand the issues involved. Here are some answers to frequently asked questions. Continue reading.

Now or Later: When Should Your Company Implement the New Crypto Reporting Guidance?

The Financial Accounting Standards Board (FASB) made favorable changes to the accounting rules for crypto assets in December 2023. The updated guidance benefits reporting entities and external stakeholders alike. It’s effective for fiscal years beginning after December 15, 2024, including interim periods within those years. Here’s what you should know — and why many companies are choosing to implement the changes before they’re required to do so. Continue reading.

How Section 1231 Gains and Losses Affect Business Asset Sales

The Standard Business Mileage Rate Increased in 2025

The nationwide price of gas is slightly higher than it was a year ago, and the 2025 optional standard mileage rate used to calculate the deductible cost of operating an automobile for business has also gone up. The IRS recently announced that the 2025 cents-per-mile rate for the business use of a car, van, pickup, or panel truck is 70 cents. In 2024, the business cents-per-mile rate was 67 cents per mile. This rate applies to gasoline and diesel-powered vehicles as well as electric and hybrid-electric vehicles. Continue reading. 

Beyond the Financials: What's a Quality of Earnings Report?

Financial statements provide insights into a company’s historical performance. But, the parties to a merger or acquisition are also interested in assessing the acquisition target’s potential to generate cash flow in the future. That’s where an independent quality of earnings (QOE) report comes into play. Continue reading.

Fraud Risk Assessment: What Auditors Watch For

Auditing standards require auditors to identify and assess the risks of material misstatement due to fraud and to determine overall and specific responses to those risks. Here are some answers to questions about what auditors assess when interviewing company personnel to evaluate potential fraud risks. 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.