Author Archives:Erin McGaw

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Top 10 Benefits of Outsourced Accounting

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1. SAVE MONEY.Outsourced Accounting provides a cost-effective solution for having accounting professionals on your team without the overhead costs, health insurance, retirement plan, vacation time, and sickdays.

2. CONVENIENCE.Cloud-based accounting software allows you the flexibility to access your financial dashboards anytime,...

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Employee vs Contractor Infographic

When it comes to determining an employee from an independent contractor, many business owners are unsure how to identify a worker's classification. The table below highlights some of the differences between an employee and an independent contractor.

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Your Ultimate Guide to 1099-MISC

Written by Holly Pugh

One of the common issues businesses have when it comes to tax season are 1099s. In this guide, we have included the information you need to know about the 1099 form such as; what is a 1099, why these forms need to be completed, how they should be prepared, and to whom they should be sent.

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Federal Tax Reform Opportunity Zones Explained

What are Opportunity Zones or O-Zones?

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The Ultimate Sales Tax Guide for Veterinarians

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The 6-Step Process of Selling a Business

Written By: Michael Wolfe, CPA/ABV, CVA

Are you thinking about selling your business?

If you are preparing to sell your business or are currently in the process, it is important to understand the various components of the M&A process. In this blog, we will discuss the six major stages of selling your business.

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House Lawmakers Examine Tax Extenders

The House Ways and Means Tax Policy Subcommittee held a hearing on March 14 in which lawmakers and stakeholders examined the future of various temporary tax extenders post-tax reform. Over 30 tax breaks, which included energy and fuel credits, among others, were retroactively extended for the 2017 tax year in the Bipartisan Budget Act ( P.L....

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IRS Issues Guidance on Transition Tax Filing and Payment Requirements

The IRS has released Frequently Asked Questions (FAQs) to address a taxpayer’s filing obligations and payment requirements with respect to the Code Sec. 965 transition tax, enacted as part of the Tax Cuts and Jobs Creation Act ( P.L. 115-97). The instructions in the FAQs are for filing 2017 returns with an amount of Code Sec. 965 tax. Failure to...

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Trump Signs Government Funding Bill

Just hours before government funding was set to expire, President Trump on March 23 signed the bipartisan Consolidated Appropriations Act, 2018, averting a government shutdown. The $1.3 trillion fiscal year 2018 omnibus spending package, which provides funding for the government and federal agencies through September 30, contains several tax...
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Top 3 Advantages of Reverse Due Diligence Before Selling a Business

Are you thinking about selling your business? If so, a prospective buyer is likely to conduct “Due Diligence” or an investigation of your company to evaluate its strengths and weaknesses.  

What will they find? Do you know how your company will look to a potential buyer? Will the results of the buyer’s Due Diligence impact the price they will...

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