2023-2024 Tax Planning Guide
Winning Back-Office Strategies to Boost Your Business Agility
VIEWpoint Issue 1 | 2023
A Refresher on the Trust Fund Recovery Penalty for Business Owner...
Valuations Can Help Business Owners Plan for the Future
SBA Lenders: Beware of BSA
In 2022, the COVID-19 pandemic began to fade from the spotlight, allowing many businesses to rebuild their operations and shift their focus back to organizational growth. To support this effort, Doeren Mayhew’s CPAs and advisors have shared a wealth of blog articles over the past year to empower business owners with the insight they need during these uncertain times. Gain insight into our top-five trending blog headlines from the past year.
Our top article this year was focused on a byproduct of the pandemic and the havoc it wreaked on businesses: the Employee Retention Credit (ERC). With many companies looking to claim the ERC to gain much-needed financial relief, our business tax accountants laid out all the information business owners needed to know when applying for the credit.
A popular concern of many business owners is budget, so it’s a red flag when a company consistently operates above its means. One way to mitigate this is cost-control management, a strategic and formalized review of a company’s operations and resources with the goal of reducing costs at each level of the organization. Our CPAs and advisors highlight four benefits of implementing cost-control management procedures into your business to keep your budget on track.
In the negotiation phase of a mergers and acquisitions (M&A) transaction, an earnout is a useful tool to bridge the valuation gap between a buyer and seller. As the current market continues to fall victim to labor shortages, supply chain issues and inflation, earnouts are the go-to approach for many M&A advisors to get deals closed. Doeren Mayhew further explores earnouts and shares key accounting factors to consider for your next transaction.
Determining the profitability of your company can be done in several different ways, but many investors start with calculating Earnings Before Interest, Taxes, Depreciation and Amortization (EBITDA). Doeren Mayhew’s investment bankers detail EBITDA, the ratios commonly used by investors and lenders, and strategies to adjust your calculation to position your business for a sale.
Under the Bipartisan Budget Act of 2015, partnerships can no longer amend their Form 1065 or Schedule K-1, and (in most cases) instead must file an administrative adjustment request (AAR). Given the complicated nature of AARs, Doeren Mayhew’s business tax accountants answer some commonly asked questions to set your partnership up for success.
With the new year around the corner, Doeren Mayhew’s dedicated CPAs and advisors are committed to keeping you up-to-date with the latest news set to impact you and your business. To get the most buzzworthy topics delivered directly to your inbox, be sure to subscribe to our VIEWpoint newsletter.
This publication is distributed for informational purposes only, with the understanding that Doeren Mayhew is not rendering legal, accounting, or other professional opinions on specific facts for matters, and, accordingly, assumes no liability whatsoever in connection with its use. Should the reader have any questions regarding any of the news articles, it is recommended that a Doeren Mayhew representative be contacted.
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