Posts Tagged ‘Professional Services’
Protect Your Organization with an Effective Control Environment
At a glance: The full story: All organizations need to have some type of underlying internal control framework or system of internal control. Even very small non-profit organizations with just a few employees have processes that could contain reviews and/or approvals by management before transactions are entered into and posted to the accounting records. To…
Read MoreMaximizing Tax Deductions: Understanding Business Meals and Entertainment Expenses
At a glance Schedule a consultation with an Aprio Professional Service Advisory team member today. The full story: When running a business, understanding what expenses are tax-deductible can significantly impact your bottom line. One area that requires careful consideration is business meals and entertainment expenses. In this article, we will explore the deductibility of various…
Read MoreWant to pay off your law school student loans faster? Why owning your practice is key
At a glance: If starting your own practice from beneath a mountain of debt sounds daunting, partner with Aprio’s Professional Service Advisory team. The full story: Law school tuition, graduate degrees, specialty certifications, and other associated costs leave many future lawyers buried in thousands of dollars of debt by the time they graduate. That kind of…
Read MoreLaw Firms: Take Advantage of the Enhanced Business Meal Deduction Before It’s Gone
By: Kaytee, Rossano At a glance The main takeaway: The long-established 50% deduction on business meals has been temporarily enhanced. Law firms, and other businesses, can now deduct 100% if the meals and beverages fall into the applicable criteria. Impact on your business: Taking clients and prospective talent out for meals is seen as a…
Read MoreMultistate Law Firms Could Have a State Tax Nexus Filing Obligation: 3 Big Questions Answered
By: Julie Chesebro, CPA; Ella Corry, CPA At a glance The main takeaway: Whether your law firm has a multistate presence due to physical office locations, remote employees, or both, you may be required to file a state tax nexus. Impact on your business: Hiring remote employees in new states will likely create state income…
Read MoreQualifying for Section 1202: The IRS Provides Clarity on a Taxpayer’s Eligibility
At a glance The main takeaway: In a Chief Counsel Memo, the IRS concluded that a taxpayer’s business of facilitating rental property agreements between lessors and lessees should be classified as brokerage services thus deeming them ineligible for Section 1202. Impact on your business: For a taxpayer to receive the incentives that come with Section…
Read More5 ESG Investment Benefits for Management
At a glance Are you ready to build your social balance sheet? Contact our team for a free consultation. The full story: Environmental, social and governance (ESG) investing prioritizes companies with durable profit growth because those companies have built sustainable relationships with their customers, employees and communities. Essentially, they have de-risked their business through strong governance,…
Read MoreThe Pulse on the Economy and Capital Markets: Jan 31 – Feb 4, 2022
https://player.vimeo.com/video/674563774 At a glance: The markets continue to give us a lesson on what volatility looks like with Nasdaq up 3.4% on Monday and down 3.7% on Thursday In the bond market, the yield on the 10-year treasury rose to 1.9%, lowering the values of government and investment grade bonds. Meta Platforms (formerly Facebook) disappoints…
Read MoreThe Pulse on the Economy and Capital Markets: Nov 8 – Nov 12, 2021
At a glance: Overall higher than expected inflation caused the stock market and bond market to decline while bitcoin and emerging markets increased last week. GE and Johnson & Johnson take significant action and break up their company’s structure. The ability to work remotely is reshaping the housing market and causing rent increases among warmer…
Read MoreWhat Upcoming Tax Legislation Might Mean For You, Your Business, and Your Estate Plan
At a glance The main takeaway: House and Senate Democrats are debating and modifying President Joe Biden’s tax proposals with a view toward passing legislation as part of the budget reconciliation process. Each of the competing proposals contain tax increases, including rate changes, new or restored limitations on deductions and the likelihood of increased IRS enforcement.…
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