Business Consulting and Planning

4 Things Your Accounts Payable Can Tell You About Your Business by Debra Sears, CPA

Posted on October 03, 2024 by Debra Sears

As your business grows with new customers, products or service offerings, your expenses will likely increase. How you manage these liabilities can significantly impact your operation’s cash flow, credit ratings, risk of fraud and your relationships with vendors and suppliers. The key to ensuring a healthy financial picture is learning how to analyze your accounts […]

Deep Dive into Deductions for Business Meals and Entertainment by Steven Rubin, CPA

Posted on October 02, 2024 by Steven Rubin

Operating a business can be expensive, and it can be challenging for businesses to know when they can write off certain expenses, especially with a frequently changing tax code. One particularly puzzling area of the law concerns the rules for deducting the costs of business-related meals and entertainment, which have evolved over the past few […]

Podcast – BPB Knows the Downsides of Legacy Accounting Systems

Posted on September 19, 2024 by Shanna Shim

In this episode, accounting systems advisor Shanna Shim shares some of the hidden costs of old software and what business owners should consider when their accounting systems are holding them back.

UPDATED Research & Experimental Tax Deduction Guidance by Mark B. Leaheey, CPA, CGMA, MSA

Posted on September 17, 2024 by Mark Leaheey

On Aug. 1, 2024, the U.S. Senate failed to pass a tax bill that, among other things, would have restored businesses’ ability to fully deduct specified research and experimental (SRE) expenses in the tax year they are incurred. As a result, businesses that invest in innovation must continue to capitalize and amortize those costs over […]

Your Legacy Accounting Software May Be Costing More Than You Think by Shanna Shim, CPA

Posted on September 11, 2024 by Shanna Shim

When small and mid-size businesses assess their existing accounting systems, the adage “if it ain’t broke, don’t fix it” often comes to mind. After all, if employees are comfortable working with a solution that continues to function the way it is supposed to, why spend the dollars and resources to find and deploy a new […]

Cybersecurity Risk Assessments Critical to Helping Businesses Prevent Data Breaches by Brandon Bowers

Posted on September 03, 2024 by Brandon Bowers

Falling victim to a data breach that involves unauthorized access to a company’s confidential information can be especially costly for small and mid-size businesses in terms of lost revenue, loss of productivity and reputational damage. Yet even as the number of small businesses impacted by cyberattacks continues to rise, less than half have adopted cybersecurity […]

UPDATED – The Deadline for Corporate Transparency Act Reporting is Fast Approaching – Have You Filed? by Joel G. Young, JD, LLM

Posted on August 23, 2024 by Joel Young

UPDATED – On March 2, 2025, the Department of Treasury announced CTA will be narrowed to only foreign reporting companies. UPDATED – On December 3, 2024, a federal court in Texas ruled that the CTA is likely unconstitutional and prohibited its enforcement. This set off a review, injunction and follow-up hearing date in March […]

Will the Loper Decision Foster Continued Uncertainty in Financial Services Tax Matters? by Magda Szabo, CPA, JD, LLM

Posted on August 21, 2024 by Magda Szabo

On June 28, 2024, the U.S. Supreme Court issued a landmark decision in Loper Bright Enterprises v. Raimondo,[1] overturning its 40-year long-standing precedent set forth in Chevron v. Natural Resources Defense Council.[2] The latest ruling has far-reaching consequences concerning the courts’ power to override a federal agency’s interpretation (regulatory guidance) of the laws Congress designated […]

Understanding Your Classification as a Real Estate Investor or a Dealer is Crucial in a 1031 Exchange by John G. Ebenger, CPA

Posted on July 19, 2024 by John Ebenger

There are many different types of participants in the real estate market and an equally diverse set of rules for how each may treat profits and losses from property sales. For example, real estate investors may claim the tax deferral benefits of a 1031 exchange, but these benefits and rules generally do not apply to […]

4 Mistakes to Avoid with 1031 Exchanges of Real Estate by Yovanny Hernandez, CPA

Posted on July 11, 2024 by Yovanny Hernandez

For more than a century, Section 1031 of the U.S. tax code has carved out a unique opportunity for qualifying individuals and businesses to defer federal capital gains tax on the sale of highly appreciated real estate held for investment or business use when they reinvest the sales proceeds into a similar, like-kind property. These […]

Category: Business Consulting and Planning