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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 Untouchables: Getting a Handle on Intangibles

Posted by Jessica L. Pagan, CPA on Sep 18, 2019

The average company’s balance sheet understates its value by 80%, according to Sarah Tomolonius, co-founder of the Sustainability Investment Leadership Council. Why? Intangible assets aren’t recorded on the balance sheet under U.S. Generally Accepted Accounting Principles (GAAP) unless they’re acquired from a third party.

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Posted in Audit & Assurance

2019 Q4 Tax Calendar: Key Deadlines for Businesses and Other Employers

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

Here are some of the key tax-related deadlines affecting businesses and other employers during the fourth 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

Should You Elect S Corporation Status?

Posted by Jessica L. Pagan, CPA on Aug 20, 2019

Operating a business as an S corporation may provide many advantages, including limited liability for owners and no double taxation (at least at the federal level). Self-employed people may also be able to lower their exposure to Social Security and Medicare taxes if they structure their businesses as S corps for federal tax purposes. But not all businesses are eligible — and with changes under the Tax Cuts and Jobs Act, S corps may not be as appealing as they once were.

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Posted in Business Tax

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

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