MLR

Resources

Accounting & Finance Articles

Welcome to our Resources section, where you will find articles on accounting and finance for businesses and individuals, as well as resources to aid in business financial planning across a variety of industries we serve. Please contact us for personalized advice in accounting and finance. Maxwell Locke & Ritter is here to offer trusted guidance.

 

Categories:

Compilation, review or audit? Here are some important factors to consider when evaluating whether your company’s current level of assurance is the best option for today’s uncertain conditions.

Many businesses have undergone strategic shifts during the pandemic. Here’s how to determine whether that change is within the scope of the accounting rules for discontinued operations and, if so, how to comply.

Economic fallout from the COVID-19 crisis may cause some cash-strapped individuals to default on loans they’ve taken out from company qualified retirement plans, including 401(k) and profit-sharing plans. Defaulting on a plan loan will cause adverse tax and retirement-saving consequences. Here are the details.

Under today’s federal income tax rules, your business may be able to claim big first-year depreciation write-offs for eligible assets that are placed in service in the current tax year. Here’s what you should know before claiming 100% first-year bonus depreciation or first-year Section 179 deductions.

COVID-19 has unequivocally changed the way businesses operate, including how some companies approach fringe benefits. These new benefit arrangements can create tax uncertainties for employers and employees.

In the near future, you may notice a small payment in your bank account or you may receive a check from the IRS. The tax agency recently announced that it will send interest payments to about 13.9 million individual taxpayers who filed their 2019 federal income tax returns on time and are receiving refunds.

The AICPA issued guidance for nongovernmental entities on accounting for forgivable PPP loans that provides entities with options to account for the PPP loan funds as either debt or a grant.

Even if your nonprofit isn’t required to have an external audit, there are many good reasons to obtain this added level of assurance.

Entrepreneurs often don’t know that many start-up expenses can’t be currently deducted. Some probably must be amortized over time. This article explains how start-up expenses must be handled on a federal tax return.

Categories:

Searching through business accounting firms for just the right fit for your company can seem daunting.  We outline 5 points to keep in mind that will help narrow down your choices.

Advice from Industry Experts

Our team includes specialists who have a proven track record of helping their clients reach their financial goals. For audit services, tax preparation, due diligence, IT security & compliance, wealth management, and 401(k) plan management, we can help answer your questions and get you on the right track.

Contact us today to schedule your consultation.

CONTACT US
  • Drop files here or
    Accepted file types: jpg, png, pdf, doc, docx.
  • This field is for validation purposes and should be left unchanged.