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. Financial Reporting Issues to Consider in "Going Private" Transactions
2. Heads Up, Restaurants: Federal Relief Could Trigger a Single Audit
3. How to Realize Tax Savings When Tax Rates Increase
4. Tax Breaks to Consider During National Small Business Week
5. Planning Ahead for Tax Credits and Deductions
6. House Ways and Means Committee Releases Initial Tax Proposals
7. Best Practices for Reporting Business-Related T&E Expenses
8. Tax Depreciation Rules for Business Automobiles
9. What's New at Machen McChesney

Financial Reporting Issues to Consider in "Going Private" Transactions

In the midst of mounting inflation, supply shortages, geopolitical turmoil, threats of cyberattacks, and continuing COVID-19 concerns, public stock prices are expected to fluctuate in the coming months. This situation has unsettled shareholders and makes long-term strategic planning challenging. Now might be a good time to consider getting off the rollercoaster by taking your company out of the public eye. Continue reading.

Heads Up, Restaurants: Federal Relief Could Trigger a Single Audit

Since the outbreak of COVID-19, the restaurant industry has been one of the hardest hit by the pandemic's impacts, leading to spikes in business closures, continued capacity limitations, and unprecedented loss in both jobs and sales. However, many establishments were able to keep their doors open and continue to serve customers throughout the course of the pandemic with the help of federal aid issued through the CARES Act programs, Restaurant Revitalization Fund, and other relief programs. As a result, restaurants may be subject to the Single Audit this year. Continue reading.

How to Realize Tax Savings When Tax Rates Increase

The Treasury Department's Green Book outlines proposals supported by the Biden Administration that would increase federal tax rates for corporations and high-income individuals, generally effective for taxable years beginning after December 31, 2021. Under these proposals: Continue reading.

Planning Ahead for Tax Credits and Deductions

House Ways and Means Committee Releases Initial Tax Proposals

On September 13, 2021, the House Ways and Means Committee released draft legislation that proposes a series of tax increases and tax cuts, which will undergo a round of markups by the committee over the next few days. Most tax proposals were anticipated; however, the House provided a few surprises. Continue reading. 

Best Practices for Reporting Business-Related T&E Expenses

Many companies have resumed some level of business-related travel and entertainment (T&E) activities — or they plan to do so this fall. Unfortunately, these expense categories may be susceptible to incomplete recordkeeping and even fraud. So, it's important for companies to implement formal T&E policies to ensure reporting is detailed and legitimate. Continue reading.

Tax Depreciation Rules for Business Automobiles

If you use an automobile in your trade or business, you may wonder how depreciation tax deductions are determined. The rules are complicated, and special limitations that apply to vehicles classified as passenger autos (which include many pickups and SUVs) can result in it taking longer than expected to fully depreciate a vehicle. Continue reading.

What's New at Machen McChesney?

Sponsorships, 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.