You may be speaking with your CPA and financial professional regularly, but are they talking to each other? And more importantly, part of the same team? Here are a few reasons why your CPA and financial professional should be on the same team, providing you a comprehensive view of your financial picture and the implication...Continue Reading

Like the rest of the world in 2020, the Internal Revenue Service (“IRS”) was also forced to run at a restricted capacity due to the Coronavirus pandemic. This has a caused a strain on its ability to process tax returns and has created a backlog. A report released by the Taxpayer Advocate Service in June...Continue Reading

As disappointing news continues this summer regarding Covid-19 cases, the impact is still felt by small businesses by way of ongoing business interruptions, supply chain delays and staffing issues. A bit of good news does exist: Small businesses (those with fewer than 500 employees) should be aware that President Biden’s American Rescue Plan Act of...Continue Reading

The R&D tax credit is accessible to more small businesses, and it can be a valuable way to manage expenses for innovative research. However, US Tax Court cases in recent years have revealed some weaknesses in corporate due diligence to support eligibility for the credit. Companies should not be afraid to claim the credit for...Continue Reading

There are multiple business valuation methods to choose from when valuing a closely held business. Each one has its own pros and cons. In this video Ryan Campbell, CPA, CVA and Andrew Labosier, CPA, CVA describe three common methods: the book, market and income methods of a company valuation. Partnering with an experienced business valuation consultant allows you to determine...Continue Reading

By Meg Hampton, CPA, MAcc With life beginning to return to some semblance of normalcy, small businesses and organizations that received stimulus money through 2020 and early 2021 are entering an important phase for recording and reporting on these federal and state funds. Recording complexities for stimulus payments—whether in the form of loans, grants or...Continue Reading

When speaking to clients about ways to manage tax credits, we often have to answer this question: “Does the R&D Tax Credit apply to me?” It depends. And it really depends in the area of software development or engineering improvements. Companies can overlook thousands of dollars in unrealized credits at the federal and state level...Continue Reading

When you’re young, the possibilities are wide open to you. You may not be thinking about a family or leading a business. You are probably thinking about the job in front of you, how to pay your bills and how to spend your free time. I was in your place not long ago. When I...Continue Reading

Many due diligence factors should be reviewed when considering a merger and acquisition. In this video, Certified Valuation Analysts, Ryan Campbell and Andrew Labosier, describe these factors besides EBITDA that impact M&A. EBITDA and calculating multiples is an easy route to valuation, but not as accurate as applying adjustments, such as; owner compensation, discretionary expenses and related...Continue Reading

Preparing the Incurred Cost Submission Do you have the clause FAR 52.216-7 “Allowable Cost and Payment” in any of your contracts? If you do, you have a requirement to prepare an Incurred Cost Submission for your company and submit to your local DCAA office 6 months after your fiscal year end. Typically, this FAR clause...Continue Reading