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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. Small Businesses: Stay Clear of a Severe Payroll Tax Penalty
  2. How to Keep Track of Small Tools and Equipment
  3. Thinking About Converting from a C Corporation to an S Corporation?
  4. Small Businesses: Get Ready for Your 1099-MISC Reporting Requirements
  5. Valuing Profits Interests in LLCs
  6. Accrual-Based Businesses: 5 Ways to Reduce Your 2019 Taxes
  7. Close-Up on Pushdown Accounting for M&As
  8. The Tax Implications If Your Business Engages in Environmental Cleanup
  9. What's New at Machen McChesney

Small Businesses: Stay Clear of a Severe Payroll Tax PenaltyiStock-857543974-1One of the most laborious tasks for small businesses is managing payroll. But it’s critical that you not only withhold the right amount of taxes from employees’ paychecks but also that you pay them over to the federal government on time. Continue reading.

How to Keep "Track of Small Tools and EquipmentiStock-599689860-1Whether it’s hard hats and drills on a job-site, iPads in an office or RFID readers in a warehouse, small tools and equipment have a tendency to disappear at many companies. The cost of lost, damaged and stolen items can quickly add up, consuming profits and cash flow. What can you do to manage these items more effectively and create accountability among workers? Continue reading.

Thinking About Converting from a C Corporation to an S Corporation?letter-c-ribbon-icon-vector-id649787420 (2)The right entity choice can make a difference in the tax bill you owe for your business. Although S corporations can provide substantial tax advantages over C corporations in some circumstances, there are plenty of potentially expensive tax problems that you should assess before making the decision to convert from a C corporation to an S corporation. Continue reading.

Small Businesses: Get Ready for Your 1099-MISC Reporting Requirements1099 misc form-1A month after the new year begins, your business may be required to comply with rules to report amounts paid to independent contractors, vendors, and others. You may have to send 1099-MISC forms to those whom you pay nonemployee compensation, as well as file copies with the IRS. This task can be time-consuming and there are penalties for not complying, so it’s a good idea to begin gathering information early to help ensure smooth filing. Continue reading   

Valuing Profits Interests in LLCsBonus-868403326-1The use of so-called “profits interest” awards as a tool to attract and retain skilled workers has increased, as more companies are being structured as limited liability companies (LLCs), rather than as corporations. But accounting complexity has caused some private companies to shy away from these arrangements. Fortunately, relief from the Financial Accounting Standards Board (FASB) may be coming soon. Continue reading

Accrual-Based Businesses: 5 Way to Reduce Your 2019 TaxesIFF_Accrual_IMAGE_560x292-1There may still be opportunities to reduce your company’s 2019 tax bill. Continue reading. 

Close-Up on Pushdown Accounting for M&AsBlocks M&A - 468654143-1Change-in-control events — like merger and acquisition (M&A) transactions — don’t happen every day. If you’re currently in the market to merge with or buy a business, you might not be aware of updated financial reporting guidance that took effect in November 2014. The changes provide greater flexibility to post-M&A accounting. Continue reading.

The Tax Implications If Your Business Engages in Environmental CleanupEco Friendly-1175502310-1If your company faces the need to “remediate” or clean up environmental contamination, the money you spend can be deductible on your tax return as ordinary and necessary business expenses. Of course, you want to claim the maximum immediate income tax benefits possible for the expenses you incur. 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. 

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.
Machen McChesney 
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