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. Growing Your Business With a New Partner: Here Are Some Tax Considerations.
2. When Partners Pay Expenses Related to the Business
3. 4 Cost-Cutting Areas to Help Your Business Boost Profits
4. It's Almost Time for a Midyear Checkup on Your Company's Financial Health
5. The Tax Advantages of Including Debt in a C Corporation Capital Structure
6. Tax Tips When Buying the Assets of a Business
7. 4 Bookkeeping Pitfalls for Small Businesses to Avoid
8. What's New at Machen McChesney

Growing Your Business With a New Partner: Here Are Some Tax Considerations.

There are several financial and legal implications when adding a new partner to a partnership. Here’s an example to illustrate: You and your partners are planning to admit a new partner. The new partner will acquire a one-third interest in the partnership by making a cash contribution to the business. Assume that your basis in your partnership interests is sufficient so that the decrease in your portions of the partnership’s liabilities because of the new partner’s entry won’t reduce your basis to zero. Continue reading.

When Partners Pay Expenses Related to the Business

It’s not unusual for a partner to incur expenses related to the partnership’s business. This is especially likely to occur in service partnerships such as an architecture or law firm. For example, partners in service partnerships may incur entertainment expenses in developing new client relationships. They may also incur expenses for: transportation to get to and from client meetings, professional publications, continuing education, and home office. What’s the tax treatment of such expenses? Here are the answers. Continue reading.

4 Cost-Cutting Areas to Help Your Business Boost Profits

Many businesses focus on selling more products and services to boost profitability. But sales volume alone doesn’t necessarily raise profits. In fact, pushing more sales through a bloated expense structure can result in lower net profits. Continue reading.

It's Almost Time for a Midyear Checkup on Your Company's Financial Health

Tax Tips When Buying the Assets of a Business

After experiencing a downturn in 2023, merger and acquisition activity in several sectors is rebounding in 2024. If you’re buying a business, you want the best results possible after taxes. You can potentially structure the purchase in two ways: Continue reading. 

4 Bookkeeping Pitfalls for Small Businesses to Avoid

Accurate bookkeeping is essential to operating a successful small business. The problems created by inadequate bookkeeping practices can have significant, long-lasting consequences. Here are four common pitfalls — and how to avoid them with the right knowledge and tools. 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.