News

As the average age of the business owner population rises, more business owners are planning for retirement. Since 2010, mergers and acquisitions have been on the rise and as we step out of 2020, these numbers have probably doubled. Along with an...

Eligible parents have already started receiving advance child tax credit (CTC) payments from the federal government. The American Rescue Plan Act passed earlier this year included a one-year expansion of CTC payments, which increases the available...

The success of buying or selling a company can hinge on the correct valuation. This is why it is so important to work with a firm that knows how to value a company. We’re often asked, “What are the 3 ways to value a company?” At...

Attending college is one of the biggest investments that parents and students ever make. If you or your child (or grandchild) attends (or plans to attend) an institution of higher learning, you may be eligible for tax breaks to help foot the...

The best choice of entity can affect your business in several ways, including the amount of your tax bill. In some cases, businesses decide to switch from one entity type to another. Although S corporations can provide substantial tax benefits over...

The COVID-19 relief bill, signed into law on December 27, 2020, provides a further response from the federal government to the pandemic. It also contains numerous tax breaks for businesses. Here are some highlights of the Consolidated...

Remote audit procedures can help streamline the audit process and protect the parties from health risks during the COVID-19 crisis. However, seeing people can be essential when it comes to identifying and assessing fraud risks during a financial...

One of the biggest misconceptions when it comes to business valuation involves multiples. Someone might hear that their friend or neighbor sold their business for a certain multiple of earning and based off of that amount, get an idea of their...

When you own your own business, you pour everything into your vision and goals. Is your accountant doing the same? Or are you the one filing your taxes—doing the bare minimum while still following the law—and moving on to the next item...

Chad Isler, 415 Group Partner, discusses the value a CPA partnership can bring to your business.

If you’re planning your estate, or you’ve recently inherited assets, you may be unsure of the “cost” (or “basis”) for tax purposes. Fair market value rules Under the fair market value basis rules (also known as...

Making the choice to work from home in the spring of 2019 probably wouldn’t have been a big deal, so long as your boss approved the decision and you could still get everything done. Yet when the coronavirus pandemic started in the spring of...

The April 15 federal income tax filing due date has been moved to July 15, the U.S. Treasury Department and IRS recently announced. Here is what you need to know: The due dates for all tax payments normally due April 15 have been pushed back 90...

You've done the hard work. You have a new business idea or you've found an existing business to purchase. Want to help ensure your business success? Pay attention to correctly set up your business accounting system. Here's how: Consider a...

There is still time to make a contribution to a traditional IRA or Roth IRA for the 2019 tax year. The annual contribution limit is $6,000 or $7,000 if you are age 50 or over. Prior to making a contribution, if you (or your spouse) are an active...

There's still time to reduce your potential tax obligation and save money this year (and next). Here are some ideas to consider: Estimate your 2019 and 2020 taxable income. With these estimates you can determine which year receives the...

With summertime activities in full swing, tax planning is probably not on the top of your to-do list. But putting it off creates a problem at the end of the year when there’s little time for changes to take effect. If you take the time to plan...

As I prepare to retire from 415 Group this November, I’ve been reflecting on the succession process. When working in a service business like public accounting, you develop many personal relationships. These relationships, in many instances,...

Ray Maynard, 415 Group Partner discusses how to get in front of your business' future cash-flow gaps.

According to the Association of Certified Fraud Examiners, nearly 30 percent of businesses are victims of payroll malfeasance, with small businesses twice as likely to be affected than large businesses. Here are four scary payroll fraud schemes you...