Business

Raising Capital? Your Business May Need Financial Statements

In this article, Staff Accountant Jacob Coughlin, CPA shares a guide to attestation for business owners with a breakdown of options, levels of assurance and other key factors to help you make the right decision for your business. A small business raising capital has two…

Understanding 1099 Filing Requirements: A Q&A for Businesses

Businesses of all sizes are preparing to meet important tax reporting obligations – including the filing of Form 1099. Failing to properly issue and file 1099s can result in costly penalties and unnecessary IRS issues. In this article, In-Charge Senior Accountant Bryce Tarletsky, CPA offers…

There’s still time to set up a SEP and reduce your 2025 taxes

If you own a business or are self-employed and haven’t already set up a tax-advantaged retirement plan, consider establishing one before you file your 2025 tax return. If you choose a Simplified Employee Pension (SEP), you’ll be able make deductible 2025 contributions to it, saving…

Side Hustles & Taxes: What You Need to Know Before Selling Online

Selling online, whether it’s handmade candles on Etsy, vintage sneakers on eBay, or custom T-shirts on TikTok Shop, has never been easier. For many, a side hustle is a fun way to turn hobbies into extra income. While listing your first item can be exciting,…

Building a More Valuable Business: Key Steps for Owners

Whether you plan to sell, transition, or grow for the long haul, business value is built over time, not at the finish line. BS&P’s Audit Manager Matthew Mernan, CPA, CVA outlines key actions business owners can take now to enhance value, reduce risk and position…

Choosing the Right Business Structure

When starting or growing a business, one of the most important decisions you’ll make is how to structure it. Your business structure determines how your company is taxed, how profits are distributed, and how much personal liability owners may have. It also affects how you…

Understanding your obligations: Does your business need to report employee health coverage?

Employee health coverage is a significant part of many companies’ benefits packages. However, the administrative responsibilities that accompany offering health insurance can be complex. One crucial aspect is understanding the reporting requirements of federal agencies such as the IRS. Does your business have to comply,…

Two important tax deadlines are coming up — and they don’t involve filing your 2022 tax return.

April 18 is the deadline for filing your 2022 tax return. But a couple of other tax deadlines are coming up in April and they’re important for certain taxpayers: Saturday, April 1 is the last day to begin receiving required minimum distributions (RMDs) from IRAs,…

The 2022 gift tax return deadline is coming up soon.

Did you make large gifts to your children, grandchildren or other heirs last year? If so, it’s important to determine whether you’re required to file a 2022 gift tax return. And in some cases, even if it’s not required to file one, you may want…

Creative Refinancing Can Trim Interest Costs

With the specter of inflation haunting the nation of late, interest rates are on everyone’s mind. Business owners with commercial mortgages might want to investigate whether they should refinance now, before rates go up again. This article explores the concept of creative refinancing of commercial mortgages, as well as the importance of looking into all of a company’s credit costs.