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The Value Report - Machen McChesney Business Advisory Insights

At Machen McChesney we are committed to Returning Value to you through our monthly e-newsletter, The Value Report.

Here you'll find regular tips to help with your business and personal finances, as well as strategies to grow and more efficiently run your organization.  

 


Table of Content

  1. A Refresher On Major Tax Law Changes For Small-business Owners
  2. Time To Celebrate! FASB Expands VIE Exception For Private Companies
  3. Business Owners: An Exit Strategy Should Be Part Of Your Tax Planning
  4. Is There Still Time To Pay 2018 Bonuses and Deduct Them On Your 2018 Return?
  5. Conducting An Effective Post-M&A Audit
  6. How Do Profits and Cash Flow Differ?
  7. Higher Mileage Rate May Mean Larger Tax Deductions For Business Miles in 2019
  8. M&A Due Diligence: Don't Accept Financial Statements At Face Value
  9. Paper or Plastic?
  10. What's New at Machen McChesney

A Refresher On Major Tax Law Changes For Small-business Owners

iStock-868676410-1The dawning of 2019 means the 2018 income tax filing season will soon be upon us. After year end, it’s generally too late to take action to reduce 2018 taxes. Business owners may, therefore, want to shift their focus to assessing whether they’ll likely owe taxes or get a refund when they file their returns this spring, so they can plan accordingly. Continue reading


Time To Celebrate! FASB Expands VIE Exception For Private Companies

iStock-928299860-1The Financial Accounting Standards Board (FASB) recently gave private companies long-awaited relief from one of the most complicated aspects of financial reporting — consolidation of variable interest entities (VIEs). Here are the details. Continue reading.


Business Owners: An Exit Strategy Should Be Part Of Your Tax Planning

iStock-939112530-1Tax planning is a juggling act for business owners. You have to keep your eye on your company’s income and expenses and applicable tax breaks (especially if you own a pass-through entity). But you also must look out for your own financial future. Continue reading


Is There Still Time To Pay 2018 Bonuses and Deduct Them On Your 2018 Return?

iStock-528149571-1There aren’t too many things businesses can do after a year ends to reduce tax liability for that year. However, you might be able to pay employee bonuses for 2018 in 2019 and still deduct them on your 2018 tax return. In certain circumstances, businesses can deduct bonuses employees have earned during a tax year if the bonuses are paid within 2½ months after the end of that year (by March 15 for a calendar-year company). Continue reading   


Conducting An Effective Post-M&A Audit

iStock-477832482-1So, you’re about to merge with another company. What’s next? The integration process typically starts with audited financial statements that reflect the results and financial position of the combined entity. This exercise requires a close partnership between the external audit team and in-house accounting personnel from both companies. Collaboration is key to a seamless transition. Continue reading


How Do Profits and Cash Flow Differ?

iStock-520291068-1Business 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. Continue reading.  


Higher Mileage Rate May Mean Larger Tax Deductions For Business Miles in 2019

iStock-856913632-1This year, the optional standard mileage rate used to calculate the deductible costs of operating an automobile for business increased by 3.5 cents, to the highest level since 2008. As a result, you might be able to claim a larger deduction for vehicle-related expense for 2019 than you can for 2018. Continue reading.


M&A Due Diligence: Don't Accept Financial Statements At Face Value

iStock-876353660-1The M&A market was hot last year, and that momentum is expected to continue in 2019. Before acquiring another business, however, it’s important to do your homework. Conducting comprehensive due diligence can be a daunting task, especially if you’ve never negotiated a deal before. So, consider seeking input from an experienced accounting professional. Continue reading.


Paper or Plastic?

IFF_Cashless_IMAGE_560x292-1What percentage of Americans used only credit and debit cards in the last week? Continue reading.


What's New at Machen McChesney?

iStock_41667068_LARGE-822670-edited.jpgSponsorships, new hires, announcements
Continue reading.


 

We hope you found value in The Value Report you've received this month. We look forward to finding even more ways to Return Value to you in the future. 

Please feel free to visit our website or visit our blog at any time during the month to interact with additional valuable resources and helpful information.
 
If you have any questions on the topics above, please feel free to send us a message.
 
Thanks,
Machen McChesney 
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Montgomery: 1761 Taliaferro Trail | Montgomery AL 36117

www.machenmcchesney.com

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