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. 4 Ways Corporate Business Owners Can Help Ensure Their Compensation is "Reasonable"
2. How to Use QuickBooks as a Fraud Detection Tool
3. Preparing for Healthcare's Regulatory Environment Shift
4. Optimizing the Internal Audit Process for Greater Efficiency
5. Overview of Discontinued Operations Reporting
6. If You're Hiring Independent Contractors, Make Sure They're Properly Handled
7. Achieving the Right Balance of Working Capital
8. The Year Ahead in Hospitality: Embracing Opportunities, Mitigating Risk
9. What's New at Machen McChesney

4 Ways Corporate Business Owners Can Help Ensure Their Compensation Is "Reasonable"

If you’re the owner of an incorporated business, you know there’s a tax advantage to taking money out of a C corporation as compensation rather than as dividends. The reason: A corporation can deduct the salaries and bonuses that it pays executives, but not dividend payments. Therefore, if funds are paid as dividends, they’re taxed twice, once to the corporation and once to the recipient. Money paid out as compensation is only taxed once — to the employee who receives it. Continue reading.

How to Use QuickBooks as a Fraud Detection Tool

Many businesses and nonprofits use QuickBooks® as a cost-effective solution to manage their accounting processes. However, the software’s capabilities extend beyond organizing and streamlining your company’s accounting. QuickBooks can also help you detect fraud. Here’s an overview of the software’s fraud detection and prevention features: Continue reading.

Preparing for Healthcare's Regulatory Environment Shift

Healthcare providers are approaching a major regulatory shift. On May 11, the Federal Public Health Emergency (PHE) for the COVID-19 pandemic will lapse, ending or sunsetting regulatory changes which greatly benefited providers during the pandemic.. Continue reading. 

Overview of Discontinued Operations Reporting

Traditional business models in many sectors have been disrupted by the COVID-19 pandemic, geopolitical uncertainty, rising costs, and falling consumer confidence. If your company is planning a major strategic shift this year, management may need to comply with the updated accounting rules for reporting discontinued operations that went into effect in 2015. Continue reading. 

If You're Hiring Independent Contractors, Make Sure They're Properly Handled

Many businesses use independent contractors to help keep their costs down — especially in these times of staff shortages and inflationary pressures. If you’re among them, be careful that these workers are properly classified for federal tax purposes. If the IRS reclassifies them as employees, it can be an expensive mistake. Continue reading.

Achieving the Right Balance of Working Capital

Working capital — the funds your company has tied up in accounts receivable, accounts payable, and inventory — is a critical performance metric. During times of rising inflation and interest rates, managers search for ways to free up cash and eliminate waste. However, determining the optimal amount of working capital can sometimes be challenging. Continue reading.

The Year Ahead in Hospitality: Embracing Opportunities, Mitigating Risk

Three years after the onset of the coronavirus pandemic, the hospitality industry, like others, is still recovering. Though 2022 saw some significant growth with a public eager to travel for leisure, particularly to locations offering unique experiences, the pandemic has markedly changed business travel patterns and consumer behavior. An ongoing labor shortage and emerging competition from resort hospitality locations have further strained some hospitality markets still adapting to shifting consumer demands. 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.