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Returning Value Blog

Michael D. Machen, CPA, CVA

Recent Posts

PPP Loans Have Reopened: Let's Review the Tax Consequences

Posted by Michael D. Machen, CPA, CVA on Jan 19, 2021

The Small Business Administration (SBA) announced that the Paycheck Protection Program (PPP) reopened the week of January 11. If you’re fortunate to get a PPP loan to help during the COVID-19 crisis (or you received one last year), you may wonder about the tax consequences.

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Posted in Business Tax

Keys to Year-End Tax Savings for Businesses

Posted by Michael D. Machen, CPA, CVA on Dec 11, 2020

Whatever 2021 holds, these tips can help lower your tax liability.

2020 has been an unpredictable year. Businesses have faced all-encompassing challenges ranging from protecting employee health and safety to managing unexpected costs to dealing with severe fluctuations in supply and demand for products and services. Some businesses were able to enter new markets and achieve fresh levels of growth, while others had to make tough choices just to endure.

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Posted in Business Tax

Year-End Tax Planning Under a Biden Presidency

Posted by Michael D. Machen, CPA, CVA on Nov 13, 2020

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.

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Posted in Taxation

New Business? It's a Good Time to Start a Retirement Plan

Posted by Michael D. Machen, CPA, CVA on Nov 05, 2020

If you recently launched a business, you may want to set up a tax-favored retirement plan for yourself and your employees. There are several types of qualified plans that are eligible for these tax advantages:

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Posted in Business Advisory

Best Practices When Forecasting Cash Flow

Posted by Michael D. Machen, CPA, CVA on Oct 27, 2020

Cash flow is a top concern for most businesses today. Cash flow forecasts can help you predict potential shortfalls and proactively address working capital gaps. They can also help avoid late payments, identify late-paying customers, and find alternative funding sources when cash is tight. To keep your company’s cash flow positive, consider applying these four best practices.

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Posted in Business Advisory

Finding Relief: Tax Strategies to Generate Immediate Cash Flow

Posted by Michael D. Machen, CPA, CVA on Oct 09, 2020

The Persevere stage of economic recovery is also known as “the dip” immediately following a crisis, or in this case, the COVID-19 pandemic and resulting recession. During this time, businesses of all sizes are in triage mode, taking immediate action to protect their employees and keep the lights on. Achieving these goals requires agility, strategy, and resilience, but it also requires another key element: liquidity.

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Posted in Business Advisory

2020 Election Tax Watch: Comparing Candidates' Potential Tax Policies.

Posted by Michael D. Machen, CPA, CVA on Sep 28, 2020

The U.S. presidential election is just over a month away, yet neither candidate has released a formal, detailed plan addressing his vision for the tax code. We can, however, gain a sense of how their approaches differ through casual mentions of some aspects of tax policy on the campaign trail.

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Posted in Taxation

How to Report COVID-19-Related Debt Restructuring

Posted by Michael D. Machen, CPA, CVA on Sep 21, 2020

Today, many banks are working with struggling borrowers on loan modifications. Recent guidance from the Financial Accounting Standards Board (FASB) confirms that short-term modifications due to the COVID-19 pandemic won’t be subject to the complex accounting rules for troubled debt restructurings (TDRs). Here are the details.

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Posted in Business Advisory

Forecasting Financial Results for a Start-up Business

Posted by Michael D. Machen, CPA, CVA on Aug 13, 2020

There’s a bright side to today’s unprecedented market conditions: Agile people may discover opportunities to start new business ventures. Start-ups need a comprehensive business plan, including detailed financial forecasts, to drum up capital from investors and lenders. Entrepreneurs may also use forecasts as yardsticks for evaluating and improving performance over time.

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Posted in Business Advisory

How Furloughs and Layoffs May Affect Company Retirement Plans

Posted by Michael D. Machen, CPA, CVA on Jul 16, 2020

The coronavirus pandemic has forced many employers to implement some form of workforce reduction to continue operating. While furloughs and layoffs have a significant and immediate impact on a company’s operations, plan sponsors also need to understand the longer-term effects workforce reductions have on participants’ benefits and retirement accounts.

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Posted in Business Advisory

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