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Driving for Uber – Do the numbers work?
A CPA’s Perspective By Iain Howe, CPA Tax Supervisor at Atchley & Associates, LLP With all the hype about Uber coming to town, I was curious to see what it was all about. Reading the articles and...
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Year-end Planning Tips & Suggestions
by Iain Howe, CPA Tax Supervisor at Atchley & Associates, LLP As scary as it might be, we are now into October so there are less than 4 months left in the year! With the October 15th extended tax...
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Tax Extenders Bill Approved by the Senate
by Sarah Hubber Tax Department at Atchley & Associates, LLP Congress finally made their list, and you should check it twice. With just two weeks left in the year, the Senate has passed the tax...
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Charitable Contributions
Whether you make your gifts during this season of giving, or spread your charitable giving throughout the year, good record keeping is essential to making sure that you can qualify for the full...
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Let’s Celebrate IT!
By Liana Ellison, CPA Tax/Accounting Services Supervisor at Atchley & Associates, LLP What is “IT”, you ask? Well, at Atchley & Associates, LLP, “IT” can be anything, such as a new client, a...
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Will your business have a net operating loss? Make the most of it
When the deductible expenses of a business exceed its income, a net operating loss (NOL) generally occurs. If you’re planning ahead or filing your income tax return after an extension request and you...
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Combining business and vacation travel: What can you deduct?
If you go on a business trip within the United States and tack on some vacation days, you can deduct some of your expenses. But exactly what can you write off? Transportation expenses Transportation...
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Overview of inventory reporting methods
It’s critical to report inventory using the optimal method. There are several legitimate options for reporting inventory — but take heed: The method you choose ultimately affects how much inventory and...
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9 Things to Know When Settling a Loved One’s Estate
by Joe Ben Combs, CPA Tax Supervisor @ Atchley & Associates, LLP Handling the estate of a family member or friend who has passed away can be one of the most difficult things you may be asked to...
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Installment sales offer both tax pluses and tax minuses
Whether you’re selling your business or acquiring another company, the tax consequences can have a major impact on the transaction’s success or failure. Consider installment sales, for example. The...
View ArticleTax planning critical when buying a business
If you acquire a company, your to-do list will be long, which means you can’t devote all of your time to the deal’s potential tax implications. However, if you neglect tax issues during the negotiation...
View ArticleWhy revenue matters in an audit
For many companies, revenue is one of the largest financial statement accounts. It’s also highly susceptible to financial misstatement. When it comes to revenue, auditors customarily watch for...
View ArticleM&A due diligence: Don’t accept financial statements at face value
The M&A market was hot last year, and that momentum is expected to continue in 2019. Before acquiring another business, however, it’s important to do your homework. Conducting comprehensive due...
View ArticleWhat is and isn’t a financial statement audit?
by Tyler Mosley, CPA Audit Partner at Atchley & Associates, LLP In the public accounting world, we sometimes assume everyone knows what a financial statement audit is and what it isn’t. However,...
View ArticleThe home office deduction: Actual expenses vs. the simplified method
If you run your business from your home or perform certain functions at home that are related to your business, you might be able to claim a home office deduction against your business income on your...
View ArticleNow or later? When to report subsequent events
Financial statements present a company’s financial position as of a specific date, typically the end of the year or quarter. But sometimes events happen shortly after the end of the period that have...
View ArticleDeducting business meal expenses under today’s tax rules
In the course of operating your business, you probably spend time and money “wining and dining” current or potential customers, vendors and employees. What can you deduct on your tax return for these...
View Article2019 Q3 tax calendar: Key deadlines for businesses and other employers
Here are some of the key tax-related deadlines affecting businesses and other employers during the third quarter of 2019. Keep in mind that this list isn’t all-inclusive, so there may be additional...
View ArticleLet’s find a better way to manage your receivables
Failure to collect accounts receivable (AR) in a timely manner can lead to myriad financial problems for your company, including poor cash flow and the inability to pay its own bills. Here are five...
View Article2019 Q4 tax calendar: Key deadlines for businesses and other employers
Here are some of the key tax-related deadlines affecting businesses and other employers during the fourth quarter of 2019. Keep in mind that this list isn’t all-inclusive, so there may be additional...
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