Where to look when you need to improve profit margins

Increasing revenue isn’t the only way to strengthen your business’s financial performance. Another option is to take a closer look at operating expenses and determine whether every dollar you spend delivers value. A systematic review of major expense categories can uncover opportunities to reduce waste and protect your bottom line without sacrificing long-term growth. Here […]

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Resolve IRS Disputes Faster With Fast Track

In a recent Tax Executives Institute seminar, the IRS’s Large Business and International (LB&I) Division Commissioner Mabeline Baldwin discussed her department’s priorities. LB&I is currently revising forms to eliminate redundancies and incorporate tax law changes, and is ramping up Fast Track, a voluntary mediation program. Businesses that choose Fast Track can generally expect their cases […]

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Disaster Tax Relief Just Got Easier

President Trump has signed the Doug LaMalfa Federal Disaster Tax Relief Certainty Act. Among other things, it expands personal deductions for disaster-related losses. Previously, victims of a federally declared disaster could deduct personal casualty losses only if they itemized, and only to the extent those losses exceeded 10% of their adjusted gross income (AGI). The […]

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How a financial statement audit strengthens your fraud defenses

Fraud is a major threat facing small and midsize businesses. While audits aren’t designed to uncover fraud, they can help business owners identify anomalies and deter would-be fraudsters. Recent findings from the Association of Certified Fraud Examiners (ACFE) underscore the important role audits play, together with other controls, in a broader fraud prevention strategy. Recent […]

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