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. Ways to Manage the Limit on the Business Interest Expense Deduction
2. Harness the Power of QuickBooks for Your Business
3. FAQ About Reporting Subsequent Events
4. Tackling Risk Management With a Proactive Approach
5. Planning for the Future: 5 Business Succession Options and Their Tax Implications
6. 6 Practical Tips to Lower Business Travel Expenses
7. Ratio Rundown: Use Financial Benchmarking to Unlock Profitability, Efficiency and Growth
8. How a Business Owner's Home Office Can Result in Tax Deductions
9. What's New at Machen McChesney

Ways to Manage the Limit on the Business Interest Expense Deduction

Prior to the enactment of the Tax Cuts and Jobs Act (TCJA), businesses were able to claim a tax deduction for most business-related interest expenses. The TCJA created Section 163(j), which generally limits deductions of business interest with certain exceptions. Continue reading.

Harness the Power of QuickBooks for Your Business

Accurate financial records help business owners manage cash flow, tax obligations, and strategic planning. QuickBooks® is one of the most widely used bookkeeping software solutions for small and midsize businesses, offering a comprehensive suite of tools designed to simplify financial management and support business growth. Continue reading.

FAQ About Reporting Subsequent Events

Subsequent events are in the spotlight these days. The Public Company Accounting Oversight Board (PCAOB) recently initiated a project to modernize outdated auditing standards related to these events. The PCAOB says the audit guidance hasn’t kept pace with changes in financial reporting frameworks, risk assessment methodologies, and technological advancements. This has resulted in inconsistencies in how companies account for post-balance-sheet developments in their financial statements. Continue reading.

Tackling Risk Management With a Proactive Approach

6 Practical Tips to Lower Business Travel Expenses

Travel remains a critical expense for many businesses, whether for client meetings, networking, industry conferences or sales opportunities. However, travel and entertainment (T&E) costs can quickly spiral out of control, cutting into profits. Consider taking these six proactive measures to keep T&E costs in check. Continue reading. 

Ratio Rundown: Use Financial Benchmarking to Unlock Profitability, Efficiency, and Growth

Financial statements tell a powerful story about your business. However, they can seem like an overwhelming collection of figures without proper analysis. Financial benchmarking studies can help you identify historical trends, pinpoint areas for improvement, and forecast future performance with greater confidence. Continue reading.

How a Business Owner's Home Office Can Result in Tax Deductions

As a business owner, you may be eligible to claim home office tax deductions that will reduce your taxable income. However, it’s crucial to understand the IRS rules to ensure compliance and avoid potential IRS audit risks. There are two methods for claiming this tax break: the actual expense method and the simplified method. Here are answers to frequently asked questions about the tax break.. 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.