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Act Now to Cut Your 2018 Tax Bill

The Tax Cuts and Jobs Act (TCJA) created more than 100 new tax provisions — a staggering thought as you begin to prepare for the next filing season. The good news is that these and some of the surviving provisions create a wealth of year-end planning opportunities.

Choose the right approach to deductions

Many taxpayers…

How Auditors Assess Risk when Preparing Financial Statements

Every year, your audit firm will conduct a fresh risk assessment before the start of fieldwork. Why? Because your auditor wants to mitigate the risk of expressing an incorrect opinion regarding the accuracy and integrity of the company’s financial statements. Inadvertently signing off on financial statements that contain material misstatements can open a Pandora’s box…

September 13 , 2018 | Posted by Janie Evans |

Do You Still Need to Worry About the AMT?

There was talk of repealing the individual alternative minimum tax (AMT) as part of last year’s tax reform legislation. A repeal wasn’t included in the final version of the Tax Cuts and Jobs Act (TCJA), but the TCJA will reduce the number of taxpayers subject to the AMT.

Now is a good time to familiarize…

July 13 , 2018 | Posted by Brad Schueler |

Tax Planning and Your Investment Portfolio

Summertime is back upon us and brings with it a break from school for families, summer vacations, and generally a more relaxed pace of life.  The stock market has gotten off to a volatile start this summer.  Market volatility can lead to rebalancing of a portfolio, which may, however, lead to tax consequences from capital…

June 20 , 2018 | Posted by Nathan Oswald |

Could Receivables Fraud Strike Your Company?

From invoices and payments to discounts and write-offs, many transactions are recorded to accounts receivable. This makes receivables a popular fraud target. Moreover, receivables schemes tend to be hard to detect, allowing them to run for long periods and cause significant losses.

Common Schemes

Put simply, receivables fraud happens when dishonest employees divert customer payments…

May 14 , 2018 | Posted by Nathan Oswald |

Consider a Different Route

Four Accounting Alternatives That May Reduce Financial Reporting Costs

Many privately held companies prepare audited financial statements that comply with Generally Accepted Accounting Principles (GAAP) as established by the Financial Accounting Standards Board (FASB). They do so, at least in part, to satisfy the requirements of lenders, sureties and other business partners.

Many of GAAP’s…

May 11 , 2018 | Posted by Julie Griswold |

Potential Tax Relief on 2017 Tax Returns in Federally-Declared Disaster Areas in Indiana, Ohio and West Virginia Occurring in 2018

The President recently declared federal disaster areas for numerous counties affected by the severe storms, flooding, landslides and mudslides which occurred in Indiana from February 14 to March 4, 2018, in Ohio during the period of February 14 to 25, 2018 and in West Virginia during the period of February 14 to 20, 2018.

The…