When planning your estate, you’re likely focused on major assets, such as real estate, investments and retirement plans. But it’s also important to “sweat the small stuff” — your tangible personal property. Examples include jewelry, antiques and photographs. These personal items — which often have modest monetary value but significant
Every financial transaction your company records generates nonfinancial data that doesn’t have a dollar value assigned to it. Though auditors may spend most of their time analyzing financial records, nonfinancial data can also help them analyze your business from multiple angles. Gathering audit evidence The purpose of an audit is
The Section 179 depreciation deduction for business property gives businesses some good news. The election has long provided a tax windfall to businesses, enabling them to claim immediate deductions for qualified assets, instead of taking depreciation deductions over time. And, it was increased and expanded by the Tax Cuts and
Dalby, Wendland & Co., P.C., congratulates these exemplary professionals on their promotions as they represent our core values of integrity, quality, and community investment, and our core purpose to help our clients, our people, and our communities to be better. Vicki L. Goetter, PAFM, joins DWC as new COO Dalby
Rachel M. Schlepp, CPA This is true, whether you realize it or not. The regular compliance work that your accountant does on a monthly, quarterly, or annual basis gives us accountants a lot of intimate knowledge about your business, about your investments, and about your family. It’s not
If you are thinking about buying or selling a business, or if you are already in the process of a merger or acquisition, it’s important to ensure that both parties report the transaction to the IRS in the same way. Not doing so may cause a “red flag” with the
One of the biggest benefits a company can provide to employees is a good retirement plan; however, they are not all equal. If you could grade your company’s retirement plan, what would you give it in preparing its participants for retirement? Benchmarking can tell you. Mark the Basics You probably
Most businesses have a variety of physical assets, including production equipment, office furnishings, and a number of technological devices. Typically, however, your largest physical asset in the business is your real estate holdings, i.e., your building and the land it sits on. So, why should you separate your business from
The Tax Cuts and Jobs Act (TCJA) provided for some significant changes for business taxpayers. Among them, the TCJA introduced a flat 21% federal income tax rate for C corporations, which under prior law, profitable C corporations paid up to 35%. Such substantial changes has many businesses rethinking their entity
CPAs can offer many types of helpful audit and assurance services for businesses. An audit, for instance, is a common type of attestation service that provides a formal opinion about whether a company’s financial statements conform to U.S. Generally Accepted Accounting Principles (GAAP). Consulting services, in contrast, may include advice
