Auburn-Opelika (334) 887-7022 | Montgomery (334) 244-8900

Returning Value Blog

The IRS is Targeting Business Transactions in Bitcoin and Other Virtual Currencies

Posted by Nick Wheeler, CPA on Aug 05, 2019

Bitcoin and other forms of virtual currency are gaining popularity. But many businesses, consumers, employees, and investors are still confused about how they work and how to report transactions on their federal tax returns. And the IRS just announced that it is targeting virtual currency users in a new “educational letter” campaign.

Full Story

Posted in Business Tax

Imposing Health Care Plan Waiting Periods on Rehired Employees

Posted by Becky Snedigar on Jul 31, 2019

It’s not uncommon for employers in some industries and localities to occasionally rehire a previously terminated employee. Should such a situation occur, you may wonder how to properly handle the waiting period typically imposed on new hires preceding their eligibility for health care benefits. The answer depends on the status of your organization under the Affordable Care Act (ACA).

Full Story

Posted in Payroll, HR & Benefits

Take a Closer Look at Home Office Deductions

Posted by Lesley L. Price, CPA on Jul 29, 2019

Working from home has its perks. Not only can you skip the commute, but you also might be eligible to deduct home office expenses on your tax return. Deductions for these expenses can save you a bundle if you meet the tax law qualifications.

Full Story

Posted in Business Tax

Businesses Can Utilize the Same Information IRS Auditors Use to Examine Tax Returns

Posted by Lisa Albritton on Jul 22, 2019

The IRS uses Audit Techniques Guides (ATGs) to help IRS examiners get ready for audits. Your business can use the same guides to gain insight into what the IRS is looking for in terms of compliance with tax laws and regulations.

Full Story

Posted in Business Tax

Let's Find a Better Way to Manage Your Receivables

Posted by Murry Guy, CPA on Jul 19, 2019

Failure to collect accounts receivable (AR) in a timely manner can lead to myriad financial problems for your company, including poor cash flow and the inability to pay its own bills. Here are five effective ideas to facilitate more timely collections:

Full Story

Posted in Accounting & Outsourcing

It's a Good Time to Buy Business Equipment and Other Depreciable Property

Posted by Marty Williams, CPA on Jul 16, 2019

There’s good news about the Section 179 depreciation deduction for business property. The election has long provided a tax windfall to businesses, enabling them to claim immediate deductions for qualified assets, instead of taking depreciation deductions over time. And it was increased and expanded by the Tax Cuts and Jobs Act (TCJA).

Full Story

Posted in Business Tax

Private Companies: Beware of SEC Scrutiny

Posted by Melissa Motley, CPA on Jul 12, 2019

The Securities and Exchange Commission (SEC) doesn’t monitor just publicly traded companies. It also looks at the dealings of some private companies, often to the surprise of their owners and executives.

Full Story

Posted in Accounting & Outsourcing

Back to School Sales Tax Holiday Weekend 2019

Posted by Lisa Albritton on Jul 11, 2019

Alabama's 14th annual sales tax holiday for back-to-school items will be Friday, July 19, 2019, through Sunday, July 21, 2019.

Full Story

Posted in Alerts

M&A Transactions: Avoid Surprises from the IRS

Posted by Michael D. Machen, CPA, CVA on Jul 09, 2019

If you’re considering buying or selling a business — or you’re in the process of a merger or acquisition — it’s important that both parties report the transaction to the IRS in the same way. Otherwise, you may increase your chances of being audited.

Full Story

Posted in Business Advisory

Laying the Foundation for a Functional Incentive Plan

Posted by Amber Malik on Jul 03, 2019

Employee incentive plans can be among the most meaningful benefits that an employer can offer. This is because participants receive awards tied directly to their professional accomplishments or their organization’s success.

Full Story

Posted in Payroll, HR & Benefits

Recent Posts

Returning_Value