Remove business tax Remove financial accounting Remove tax services
article thumbnail

Tips for Startup Accounting

Withum

Increased Accounting Complexity. Companies are faced with a variety of complex financial accounting and reporting challenges. High risk and complex areas such as Revenue accounting, Capitalized Software Costs and Stock Based compensation require the skill and attention which a company may not have available internally.

article thumbnail

Commingling Funds: How to Address the Problem and Avoid It in the Future

inDinero Tax Tips

Claiming Tax Deductions is Harder When running a business, saving the maximum amount of money with tax deductions is vital to maintaining financial health. However, you can’t deduct what you don’t document and shouldn’t deduct what you can’t prove was a business expense. What are you allowed to deduct?

Insiders

Sign Up for our Newsletter

This site is protected by reCAPTCHA and the Google Privacy Policy and Terms of Service apply.

article thumbnail

Additional IRS Guidance Surrounding 174 R&E Capitalization Requirements

Withum

Contact Us For more information on this topic, please contact a member of Withum’s Business Tax Services Team. In addition, the IRS requested comments for additional examples of costs that should not be considered software development.

article thumbnail

Year-End Tax Strategies for Businesses

Withum

De Minimis Safe Harbor Election Also known as the book-tax conformity election, this election is an administrative convenience that allows businesses to deduct small-dollar (i.e., The election must be reflected for financial accounting purposes or the books and records of the company as well. C corporation pays to add $0.94

Tax 105
article thumbnail

Friday Footnotes: Why People Leave Public Accounting; Audit Workloads Up; Terrorist Clients (Literally) | 12.2.22

Going Concern

Choi Jin Hyuk has reportedly been offered the role of a senior manager at the firm who has been working as an accountant for 12 years. FASB takes step toward clarifying lease accounting [ CFO Dive ]. Umoren used that business to engage in two separate fraud schemes. This one is a doozy: A Nevada man was sentenced Nov.