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Returning Value Blog

Jessica L. Pagan, CPA

Jessica Pagan has worked with Machen McChesney since 2003. She specializes in reviews, business and individual tax and construction accounting. She participates in core processes, mentoring and training at the firm.

Recent Posts

The Pros and Cons of Interim Reporting

Posted by Jessica L. Pagan, CPA on Jul 01, 2019

The Securities and Exchange Commission (SEC) requires certain public companies to publish quarterly financial statements to give investors insight into midyear performance. Though interim reporting generally isn’t required for private companies, stakeholders in smaller entities can benefit even more than those of public companies from this type of information. But it’s also important to understand the potential shortcomings.

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Posted in Accounting & Outsourcing

2019 Q3 Tax Calendar: Key Deadlines for Businesses and Other Employers

Posted by Jessica L. Pagan, CPA on Jun 24, 2019

 

Here are some of the key tax-related deadlines affecting businesses and other employers during the third quarter of 2019.

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Posted in Business Tax

Predicting Future Performance

Posted by Jessica L. Pagan, CPA on Jun 13, 2019

CPAs typically report historical financial performance. But sometimes they’re hired to predict how a company will perform in the future.

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Posted in Business Valuation

Close-up on Professional Standards for CPAs

Posted by Jessica L. Pagan, CPA on May 09, 2019

The accounting profession is largely self-regulated by the American Institute of Certified Public Accountants (AICPA). Part of its mission involves the development and enforcement of a broad range of standards for the profession.

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Posted in Professional Standard News

Now or Later? When to Report Subsequent Events.

Posted by Jessica L. Pagan, CPA on Apr 15, 2019

Financial statements present a company’s financial position as of a specific date, typically the end of the year or quarter. But sometimes events happen shortly after the end of the period that have financial implications for the prior period or for the future. Here’s a look at what’s reportable and what’s not.

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Posted in Business Tax

2019 Q2 Tax Calendar: Key Deadlines for Businesses and Other Employers

Posted by Jessica L. Pagan, CPA on Mar 26, 2019

Here are some of the key tax-related deadlines that apply to businesses and other employers during the second quarter of 2019. Keep in mind that this list isn’t all-inclusive, so there may be additional deadlines that apply to you. Contact us to ensure you’re meeting all applicable deadlines and to learn more about the filing requirements.

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Posted in Business Tax

Could Your Business Benefit from the Tax Credit for Family and Medical Leave?

Posted by Jessica L. Pagan, CPA on Mar 19, 2019

The Tax Cuts and Jobs Act created a new federal tax credit for employers that provide qualified paid family and medical leave to their employees. It’s subject to numerous rules and restrictions and the credit is only available for two tax years — those beginning between January 1, 2018, and December 31, 2019. However, it may be worthwhile for some businesses.

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Posted in Business Tax

Depreciation-related Breaks On Business Real Estate: What You Need To Know When You File Your 2018 Return.

Posted by Jessica L. Pagan, CPA on Jan 30, 2019

Commercial buildings and improvements generally are depreciated over 39 years, which essentially means you can deduct a portion of the cost every year over the depreciation period. (Land isn’t depreciable.) But special tax breaks that allow deductions to be taken more quickly are available for certain real estate investments.

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Posted in Business Tax

How Do Profits and Cash Flow Differ?

Posted by Jessica L. Pagan, CPA on Jan 14, 2019

Business owners sometimes mistakenly equate profits with cash flow. Here’s how this can lead to surprises when managing day-to-day operations — and why many profitable companies experience cash shortages.

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Posted in Business Tax

6 Last-minute Tax Moves For Your Business

Posted by Jessica L. Pagan, CPA on Dec 18, 2018

Tax planning is a year-round activity, but there are still some year-end strategies you can use to lower your 2018 tax bill. Here are six last-minute tax moves business owners should consider:

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Posted in Business Tax

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