Monthly Archives

January 2019

Tax
January 29, 2019

Higher mileage rate may mean larger tax deductions for business miles in 2019

This year, the optional standard mileage rate used to calculate the deductible costs of operating an automobile for business increased by 3.5 cents, to the highest level since 2008. As a result, you might be…
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Audit & Accounting
January 28, 2019

How do profits and cash flow differ?

Business owners sometimes mistakenly equate profits with cash flow. Here’s how this can lead to surprises when managing day-to-day operations — and why many profitable companies experience cash shortages. Working capital Profits are closely related…
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Uncategorized
January 21, 2019

Is there still time to pay 2018 bonuses and deduct them on your 2018 return?

There aren’t too many things businesses can do after a year ends to reduce tax liability for that year. However, you might be able to pay employee bonuses for 2018 in 2019 and still deduct…
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Audit & Accounting
January 15, 2019

4 ideas for fostering a partnership between internal and external auditors

External audits aren’t required for every business. But whether required or not, they can provide lenders and investors with assurance that your financial statements are free from material misstatement and prepared in accordance with U.S.…
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Audit & Accounting
January 14, 2019

Time to celebrate! FASB expands VIE exception for private companies

The Financial Accounting Standards Board (FASB) recently gave private companies long-awaited relief from one of the most complicated aspects of financial reporting — consolidation of variable interest entities (VIEs). Here are the details. Old rules…
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Uncategorized
January 11, 2019

Business owners: An exit strategy should be part of your tax planning

Tax planning is a juggling act for business owners. You have to keep your eye on your company’s income and expenses and applicable tax breaks (especially if you own a pass-through entity). But you also…
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Audit & Accounting
January 8, 2019

Conducting an effective post-M&A audit

So, you’re about to merge with another company. What’s next? The integration process typically starts with audited financial statements that reflect the results and financial position of the combined entity. This exercise requires a close…
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News
January 8, 2019

Squar Milner LLP and Louie & Wong LLP Combine to Enhance Their Position as One of the Largest Accounting Firms in the Bay Area and West

Squar Milner LLP, one of the largest California based independent accounting firms, with over $110 million in revenue and over 550 professionals and associates, is pleased to announce, the successful combination with Louie & Wong…
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Uncategorized
January 1, 2019

Accounting for overhead costs

Accurate overhead allocations are essential to understanding financial performance and making informed pricing decisions. Here’s guidance on how to estimate overhead rates to allocate these indirect costs to your products and how to adjust for…
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