The IRS recently announced the launch of a new multistage regulatory initiative intended to close what it calls a “major tax loophole exploited by large, complex partnerships.” The IRS’s actions are prompted by its belief that some partnerships are using Read More The post IRS Targets Partnership Tax-Reduction Tactic appeared first on Kirsch CPA Firm Cincinnati ..read more

Some small to midsize businesses engage in regular strategic planning, others let it fall by the wayside and adhere to a more “fly by the seat of our pants” ethos. You probably wouldn’t be surprised to hear that, by and Read More The post Why Strategic Planning and Succession Planning Should Always Go Together appeared first on Kirsch CPA Firm Cincinnati ..read more

One reason many people disdain the budgeting process is that they associate budgets with restraint — that is, not spending money for something because it’s not in the budget. However, if you’re calling the shots, you can blow your budget Read More The post How a Budget Can Contribute to Your Success appeared first on Kirsch CPA Firm Cincinnati ..read more

Let’s say your company wants to commemorate the long career of a retiring employee instrumental in its success. It hosts an evening celebration that culminates with the presentation of a plaque and an expensive gift. What are the tax implications? Read More The post When Employee Awards and Gifts Are Tax Deductible appeared first on Kirsch CPA Firm Cincinnati ..read more

We’ve taken a big step at Kirsch CPA Group, and we’re excited to share what that means for all of us: clients, prospects, team members, aspiring team members and partners. Our transition to an Employee Stock Ownership Plan (ESOP) is Read More The post Kirsch CPA Group Transitions to 100% Employee Ownership appeared first on Kirsch CPA Firm Cincinnati ..read more

The Tax Cuts and Jobs Act (TCJA) included many important federal income tax provisions that affect small business taxpayers and their owners. Some of these provisions are scheduled to expire in the near future, unless they’re extended or made permanent Read More The post Business Owners: Expiration Date Is Approaching for Certain TCJA Provisions appeared first on Kirsch CPA Firm Cincinnati ..read more

Construction can be a challenging enterprise. Even when economic conditions are favorable, construction business owners need more than cookie-cutter financial strategies to stay on track. In a market still suffering the disruption of trends like remote working, fluctuating material costs, Read More The post 4 Strategies for Construction Companies Navigating Economic Slowdown & Labor Shortages appeared first on Kirsch CPA Firm Cincinnati ..read more

Financial statements are an important piece of the business valuation puzzle. Appraisal professionals typically consider three approaches when valuing a business — the cost, market and income approaches — ultimately relying on one or two depending on the nature of Read More The post How Financial Statements Are Used to Value a Business appeared first on Kirsch CPA Firm Cincinnati ..read more

The IRS can initiate an audit of your nonprofit organization for any number of reasons. But one of the most common is a red flag sent up by your annual filing of Form 990, “Return of Organization Exempt From Income Read More The post 7 Areas of Form 990 Audit Scrutiny appeared first on Kirsch CPA Firm Cincinnati ..read more

Real estate can be an attractive long-term investment. But the legal entity you select to own property can have important tax implications. Here’s why single-member limited liability companies (SMLLCs) are generally a better alternative than corporations from a federal income Read More The post Tax-Smart Way to Hold Investment Real Estate appeared first on Kirsch CPA Firm Cincinnati ..read more