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Returning Value Blog

Which Intangibles Should Private Firms Report Following A Merger?

Posted by Michael D. Machen, CPA, CVA on Jun 15, 2018

2018 is expected to be a hot year for mergers and acquisitions. But accounting for these transactions under U.S. Generally Accepted Accounting Principles (GAAP) can be complicated, especially if the deal involves intangible assets. Fortunately, the Financial Accounting Standards Board (FASB) offers a reporting alternative for private companies that simplifies accounting for new business combinations, avoiding a lot of red tape.

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Posted in Business Valuation

New Tax Credit For Family and Medical Leaves

Posted by Lesley L. Price, CPA on Jun 13, 2018

Employers may benefit from new tax break

The new Tax Cuts and Jobs Act (TCJA) creates a unique tax break for certain businesses. If your company pays employees while they are out of work on a family or medical leave, it may claim a brand-new tax credit for a portion of the wages, beginning in 2018.

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Posted in Business Tax

2 Tax Law Changes That May Affect Your Business's 401(k) Plan

Posted by Don G. Chastain, CPA on Jun 12, 2018

When you think about recent tax law changes and your business, you’re probably thinking about the new 20% pass-through deduction for qualified business income or the enhancements to depreciation-related breaks. Or you may be contemplating the reduction or elimination of certain business expense deductions. But there are also a couple of recent tax law changes that you need to be aware of if your business sponsors a 401(k) plan.

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Posted in Business Advisory

Auditing Related-party Transactions

Posted by Aaron K. Waller, CPA on Jun 11, 2018

Business owners generally prefer to work with entities they know and trust. But related-party transactions can provide opportunities for individuals to act in a manner that’s inconsistent with the interests of shareholders. That’s why auditors take pains to identify and properly address related-party transactions.

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Posted in Audit & Assurance

What Businesses Need To Know About The Tax Treatment Of Bitcoin And Other Virtual Currencies

Posted by Nick Wheeler, CPA on Jun 07, 2018

Over the last several years, virtual currency has become increasingly popular. Bitcoin is the most widely recognized form of virtual currency, also commonly referred to as digital, electronic or crypto currency.

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Posted in Business Tax

Putting Your Child On Your Business's Payroll For The Summer May Make More Tax Sense Than Ever

Posted by Jessica L. Pagan, CPA on May 29, 2018

If you own a business and have a child in high school or college, hiring him or her for the summer can provide a multitude of benefits, including tax savings. And hiring your child may make more sense than ever due to changes under the Tax Cuts and Jobs Act (TCJA).

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Posted in Business Tax

Is Your Not-for-Profit Financially Fit?

Posted by Don G. Chastain, CPA on May 24, 2018

Being financially fit and stable is critical to any business, including a not-for-profit (NFP). If an NFP has a weak financial position, it may not be able to sustain its operations. While the perception by many in today’s society is that most NFPs are generally financially healthy, this is not always the case. For example, a recently published report noted that 41 percent of charities do not expect to make a profit over the next three years. An NFP’s liquidity is an important story to convey to the users of its financial statements.
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Posted in Not For Profit

The TCJA Changes Some Rules For Deducting Pass-through Business Losses

Posted by Nick Wheeler, CPA on May 22, 2018

It’s not uncommon for businesses to sometimes generate tax losses. But the losses that can be deducted are limited by tax law in some situations. The Tax Cuts and Jobs Act (TCJA) further restricts the amount of losses that sole proprietors, partners, S corporation shareholders and, typically, limited liability company (LLC) members can currently deduct — beginning in 2018. This could negatively impact owners of start-ups and businesses facing adverse conditions.

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Posted in Business Tax

How Accountable Is Your Business?

Posted by Melissa Motley, CPA on May 17, 2018

How to set up an accountable plan.

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Posted in Business Tax

Can You Deduct Business Travel When It's Combined With A Vacation?

Posted by Melissa Motley, CPA on May 15, 2018

At this time of year, a summer vacation is on many people’s minds. If you travel for business, combining a business trip with a vacation to offset some of the cost with a tax deduction can sound appealing. But tread carefully, or you might not be eligible for the deduction you’re expecting.

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Posted in Business Tax

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