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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. Minding The Compliance Requirements Of An NQDC Plan 
  2. Could a Cost Segregation Study Help You Accelerate Depreciation Deductions?
  3. Supervisors Promoted From Within Call For Special Care
  4. 5 Steps to State Sales/Use Tax Compliance in the Wake of Wayfair
  5. Should Cloud Computing Setup Costs be Expensed or Capitalized?
  6. Tax-free Fringe Benefits Help Small Businesses and Their Employees
  7. Audit Opinions: How Your Financial Statements Measure Up
  8. Now's The Time To Review Your Business Expenses
  9. Selling Your Business? Defer — and Possible Reduce  — Tax With an Installment Sale
  10. Starting Slow With a SIMPLE IRA
  11. What's New at Machen McChesney

Minding The Compliance Requirements Of An NQDC Plan

iStock-958493622-259879-editedTo maintain their lifestyles in retirement, many top execs would like to set aside more dollars annually than is allowed under a qualified plan, such as a 401(k). One way an employer can help them do so is by setting up a nonqualified deferred compensation (NQDC) plan. Continue reading


Could a Cost Segregation Study Help You Accelerate Depreciation Deductions?

iStock-522645583-503905-editedBusinesses that acquire, construct or substantially improve a building — or did so in previous years — should consider a cost segregation study. It may allow you to accelerate depreciation deductions, thus reducing taxes and boosting cash flow. And the potential benefits are now even greater due to enhancements to certain depreciation-related breaks under the Tax Cuts and Jobs Act (TCJA). Continue reading.


Supervisors Promoted From Within Call For Special Care

iStock-612396272-1-394016-editedWhen a supervisory position opens up, your immediate reaction as an employer may be to post a job opening to the general public. But don’t underestimate the value, efficiency and cost savings of an internal hire from your nonmanager ranks. Continue reading


5 Steps to State Sales/Use Tax Compliance in the Wake of Wayfair

iStock-848492952-329514-editedOn June 21, the U.S. Supreme Court issued its widely anticipated decision in Wayfair. The Court held that states may require businesses to collect and remit sales and use taxes even if the business has no in-state physical presence. Continue reading 


Should Cloud Computing Setup Costs be Expensed or Capitalized?

iStock-943065362-183534-editedCompanies will be able to capitalize or spread out the costs of, setting up pricey business systems that operate on cloud technology under an update to U.S. Generally Accepted Accounting Principles (GAAP). Here are the details. Continue reading.   


Tax-free Fringe Benefits Help Small Businesses and Their Employees

iStock-470642616-119671-editedIn today’s tightening job market, to attract and retain the best employees, small businesses need to offer not only competitive pay but also appealing fringe benefits. Benefits that are tax-free are especially attractive to employees. Let’s take a quick look at some popular options. Continue reading


Audit Opinions: How Your Financial Statements Measure Up

iStock-1037699212-163871-editedAudit opinions differ depending on the information available, financial viability, errors discovered during audit procedures and other limiting factors. The type of opinion your auditor issues tells stakeholders whether you’re in compliance with accounting rules and likely to continue operating as a going concern. Continue reading. 


Now's The Time To Review Your Business Expenses

iStock-913230412-557702-editedAs we approach the end of the year, it’s a good idea to review your business’s expenses for deductibility. At the same time, consider whether your business would benefit from accelerating certain expenses into this year. Continue reading.


Selling Your Business? Defer — and Possibly Reduce — Tax With an Installment Sale

iStock-516787480-730674-edited

You’ve spent years building your company and now are ready to move on to something else, whether launching a new business, taking advantage of another career opportunity or retiring. Whatever your plans, you want to get the return from your business that you’ve earned from all of the time and money you’ve put into it. Continue reading.


Starting Slow With a SIMPLE IRA

iStock-945782942-876671-edited

For certain employers, particularly small businesses, introducing a retirement plan for employees may seem like a daunting task. The company owner may feel that providing a full-blown 401(k) plan is his or her only choice, but that’s far from true. 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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