As we continue to navigate these uncertain times, the health and safety of our employees and our clients remain our top priority. Living in these extraordinary times, we are confident in our team members' ability to adapt to these temporary changes seamlessly as we will continue to deliver the level of service you deserve. 

Machen McChesney has created a dedicated "Coronavirus Update" link on our website. We will continue to keep it updated and will continue to email our clients as updates become available.

We are here to help, so if you have any questions or concerns, please contact our office and ask for your Machen McChesney advisor. 

Table of Content

1. How Effectively Does Your Business Manage Risk?
2. Tax Responsibilities if Your Business Is Closing Amid the Pandemic
3. Choose Wisely When Naming the Right Personal Representative
4. New Business? It's a Good time to Start a Retirement Plan
5. Moving Forward: New Tax Business Strategies to Reimagine the Future
6. Preparing for the Possibility of a Remote Audit
7. Year-End Tax Planning Under a Biden Presidency
8. Health Savings Accounts for Your Small Business
9. What's New at Machen McChesney

How Effectively Does Your Business Manage Risk?

From natural disasters and government shutdowns to cyberattacks and fraud, risks abound in today’s volatile, uncertain marketplace. While some level of risk is inevitable when operating a business, proactive owners and executives apply an enterprise risk management (ERM) framework to manage it more effectively. Continue reading.

Tax Responsibilities if Your Business Is Closing Amid the Pandemic

Unfortunately, the COVID-19 pandemic has forced many businesses to shut down. If this is your situation, we’re here to assist you in any way we can, including taking care of the various tax obligations that must be met. Continue reading.

Choose Wisely When Naming the Right Personal Representative

If you have a will instead of a trust, choosing the right person to serve as the personal representative should be made only after careful consideration. While many of us have clarity on who our beneficiaries are, we often do not take considerable concern into the pivotal role of a personal representative. Continue reading.

Moving Forward: New Tax Business Strategies to Reimagine the Future

The Recover stage represents a return to the new normal—in this phase, demand for goods and services continues to rise to pre-pandemic-recession levels. The wisest companies won’t spend this time resting on their laurels but will instead use it to reimagine their futures in a world forever changed. Continue reading. 

Preparing for the Possibility of a Remote Audit

The coming audit season might be much different than the seasons of yore. As many companies continue to operate remotely during the COVID-19 pandemic, audit procedures are being adjusted accordingly. Here’s what might change as auditors work on your company’s 2020 year-end financial statements. Continue reading. 

Year-End Tax Planning Under a Biden Presidency

Although vote counting continues and legal challenges to the election endure, many news media organizations are projecting that former Vice President Joe Biden will become the 46th President of the United States on January 20, 2021. Continue reading.

Health Savings Accounts for Your Small Business

Small business owners are well aware of the increasing cost of employee health care benefits. As a result, your business may be interested in providing some of these benefits through an employer-sponsored Health Savings Account (HSA). Or perhaps you already have an HSA. It’s a good time to review how these accounts work since the IRS recently announced the relevant inflation-adjusted amounts for 2021. 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.