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The Clock is Ticking: Why Contractors Should Comply With FASB’s New...
Companies who do business in industries like construction, manufacturing and real estate are heavily impacted by the new revenue recognition rules imposed by the Financial Accounting Standard Board...
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Retail Sales Tax Exemption: A Guide for Retailers and Buyers
If you’re a retailer, you are probably aware of your sales tax collection obligation to your state. If you’re a consumer, you expect to pay sales tax when you make a purchase.What you might not know is...
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Guide to 2019 Year-End Tax Planning
The Tax Cuts and Jobs Act (TCJA) of 2017 reduced tax rates for most individuals, introduced a new deduction for owners of sole proprietorships and pass-through entities, increased the standard...
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Gaining Real-Time Business Visibility With an Executive Dashboard
There are many personal qualities and traits that distinguish successful business owners—but they all share one thing in common: Through whatever means possible, they can understand at any point in...
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U.S. Expats May Still Owe Taxes
Many former American citizens who live outside the U.S are not aware that they still may owe U.S. taxes. To remedy this situation and collect back taxes, the IRS released the Relief Procedures for...
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IRS Heightens Focus on Tax Liabilities of S Corporations
One outcome of the Tax Cuts and Jobs Act (TCJA) is the increased scrutiny by the IRS of S corporations and their shareholders with regard to certain tax liability issues. Specifically, the IRS is...
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Balance Sheet Due Diligence—Where Does It Stand When Determining Financial...
When conducting a quality of earnings analysis as part of a due diligence process, a company’s balance sheet may seem like a secondary consideration when compared to income, expenses and normalized...
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Driving Innovation and Investments With R&D Tax Credits
As a business owner, you recognize the importance of continuous investment in your manufacturing business. But, as the manufacturing landscape becomes increasingly competitive and globally inclusive,...
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How Tax Reform Created New Opportunities for R&D Tax Credits
Taxpayers everywhere were significantly impacted by the 2017 Tax Cuts and Jobs Act (TCJA). In particular, the Act impacted Research and Development (R&D) tax credits and deductions in ways large...
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Revenue Recognition and M&A Transactions | Freed Maxick
Acquisitions are often priced based on earnings, which are directly impacted by revenues. During the course of financial due diligence for a potential acquisition, there are several considerations that...
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Maximizing Internal Controls for Exit Planning | Freed Maxick
As the chief decision-maker of your business, you have ventured into new markets, raised capital and hired new staff members, all with the same end goal in mind: increasing value. You take pride in...
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Conducting Customer Due Diligence | Freed Maxick
Revenue and value are of paramount importance to successful business owners, as well as potential acquirers of companies. However, without a strong customer base, target companies would be incapable of...
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Coronavirus Stimulus Bill (CARES Act) | Freed Maxick
On March 27, 2020, the President signed the Coronavirus Aid, Relief and Economic Security Act (CARES Act) into law. The CARES Act is a massive $2 trillion bill with an array of significant tax-saving...
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Payment Protection SBA Loans | Freed Maxick
As part of the Coronavirus Aid, Relief, and Economic Security Act (CARES Act), the Paycheck Protection Program (PPP) provides $349 billion of loan funds to support small businesses and other eligible...
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SBA Disaster Loan Program | Freed Maxick
In an effort to minimize economic impacts on small businesses resulting from the COVID-19 (coronavirus) pandemic, the Small Business Administration (SBA) is providing Economic Injury Disaster Loans...
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Families First Coronavirus Response Act | Freed Maxick
OverviewThe Families FIrst Coronavirus Response Act's main focus is on two types of mandatory paid leave for employees and on tax credits to help employers pay for the mandatory paid leave.There are...
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April 15, 2020 Due Date Information
The 2019 income tax filing and payment deadlines for all taxpayers who file and pay their Federal income taxes on April 15, 2020, are automatically extended until July 15, 2020. This relief applies to...
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New York State Tax Extension Update | Freed Maxick
New York has extended the April 15 due date to July 15, 2020, for personal income tax and corporation tax returns originally due April 15, 2020, due to the coronavirus pandemic. The extension applies...
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COVID-19 Regulatory Relief │Freed Maxick
COVID-19 is presenting challenges for many companies. To address these challenges, many regulators/agencies have issued orders, releases and statements which allow, subject to certain conditions,...
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CARES Act Provisions | Healthcare | Freed Maxick
Over $100 billion of aid is targeted towards the healthcare system and includes something for nearly all types of providersThe Coronavirus Aid, Relief, and Economic Security (CARES) Act (or “the Act”)...
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