Not rendering correctly? View this email as a web page here.
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. 2024 Q3 Tax Calendar: Key Deadlines for Businesses and Other Employers
  2. Hiring Your Child to Work at Your Business This Summer
  3. Is an ESOP the Right Choice for Your Company?
  4. Bookkeeping Provides a Solid Foundation for Financial Reporting
  5. Be Aware of the Tax Consequences of Selling Business Property
  6. If Your Business Has Co-Owners, You Probably Need a Buy-Sell Agreement
  7. Consider Borrowing From Your Corporation But Structure the Deal Carefully
  8. What's New at Machen McChesney

2024 Q3 Tax Calendar: Key Deadlines for Businesses and Other Employers

Calendar Q3-1

Here are some of the key tax-related deadlines affecting businesses and other employers during the third quarter of 2024. Keep in mind that this list isn’t all-inclusive, so there may be additional deadlines that apply to you. Contact us to ensure you’re meeting all applicable deadlines and to learn more about the filing requirements. Continue reading.


Hiring Your Child to Work at Your Business This Summer

Mother and Daughter working together bakery -1669896105-1

With school out, you might be hiring your child to work at your company. In addition to giving your son or daughter some business knowledge, you and your child could reap some tax advantages. Continue reading.


Is an ESOP the Right Choice for Your Company?

ESOP - 506008558-1

Employee stock ownership plans have been in the headlines recently, but they have been around for decades. ESOPs are qualified defined contribution plans in the form of stock bonus plans or stock purchase/money purchase plans. They are governed by Internal Revenue Code Section 401(a) and the Employee Retirement Income Security Act, also known as ERISA. Continue reading.


Bookkeeping Provides a Solid Foundation for Financial Reporting

bookkeeping 1918089752-1

There are currently more than 33 million small businesses in the United States, according to the U.S. Chamber of Commerce. To succeed in today’s competitive markets, it’s essential for your business organization to have accurate books and records. Continue reading. 


Be Aware of the Tax Consequences of Selling Business Property

Tax -2083508174-1

If you’re selling property used in your trade or business, you should understand the tax implications. There are many complex rules that can potentially apply. To simplify this discussion, let’s assume that the property you want to sell is land or depreciable property used in your business, and has been held by you for more than a year. Continue reading 


If Your Business Has Co-Owners, You Probably Need a Buy-Sell Agreement

Buy-Sell Agreement -1056137252-1

Are you buying a business that will have one or more co-owners? Or do you already own one fitting that description? If so, consider installing a buy-sell agreement. A well-drafted agreement can do these valuable things: Continue reading


Consider Borrowing From Your Corporation But Structure the Deal Carefully

Loan -1481573165-1

If you own a closely held corporation, you can borrow funds from your business at rates that are lower than those charged by a bank. However, it’s important to avoid certain risks and charge an adequate interest rate. Continue reading.


What's New at Machen McChesney?

https://machen.cpa/whats-new-at-machen-mcchesney-april/whats-new-at-machen-mcchesney-july-2024

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.
 
Thanks,
Machen McChesney 
Share our insights with your connections:
   

Montgomery: 1784 Taliaferro Trail, Suite A | Montgomery AL 36117

machen.cpa

You received this email because you are subscribed to Monthly E-Newsletters from Machen McChesney.

Update your email preferences to choose the types of emails you receive.

 Unsubscribe from all future emails