Valuing a private company requires more than simply applying technical models. It also requires complete understanding of business operations, economic and industrial conditions, tax laws, and knowledge of the current capital markets. You can trust the valuation consultants at Meaden & Moore to be well-versed in all these areas and more. The need for valuing a private company may vary, but the approach is largely the same.Read More
Microsoft’s branding in general and the “Dynamics” brand, in particular, has created a lot of confusion in the market. Frequently, I hear that a company is running “Dynamics” but that’s just a brand akin to hearing that a person drives a Toyota or Ford without providing the specific model let alone the myriad of factory or aftermarket options installed.
Over the years, Microsoft acquired four Enterprise Resource Planning (ERP) systems and one Customer Relationship Management (CRM) system.
Microsoft acquired iCommunicate in 2001 and re-named the software Microsoft CRM. Around that same time, Microsoft acquired Great Plains Software and, shortly thereafter, renamed Great Plains as Dynamics GP and renamed CRM as Dynamics CRM. The Great Plains acquisition also brought the Solomon accounting software package to Microsoft which it renamed Dynamics SL.
As these three evolved, they took on the year as the version. For example, Dynamics GP is currently marketed as Dynamics GP 2018.Read More
Freight management helps companies gain an understanding of where their shipments are, builds better customer relationships, reduces the need for excess inventory and improves reliability across the supply chain.Read More
The U.S. Senate has passed, and President Trump is expected to sign into law, a broad package of reforms aimed at the IRS. Among other things, the Taxpayer First Act contains several new protections for taxpayers, along with provisions intended to improve the IRS’s customer service.
Stronger safeguards against identity theft
Several of the bill’s provisions address tax-related identity theft. For example, the bill generally requires the IRS to notify a taxpayer as soon as practicable when it suspects or confirms an unauthorized use of the individual’s identity. The IRS also must:
• Provide the taxpayer instructions on how to file a report with law enforcement on the unauthorized use,• Identify any steps the individual should take to permit law enforcement to access his or her personal information during the investigation,
• Provide information regarding the actions the taxpayer can take to protect him- or herself from harm, and
• Offer identity protection measures, such as the use of an “identity protection personal identification number” (IP PIN).
A cash balance plan is a qualified employee benefit plan which allows participants to accumulate retirement funds through company contributions and interest credits. A cash balance plan provides for a company contribution either in the form of a flat dollar amount or a percentage of pay and for a guaranteed interest component.Read More
Forecasting is a key element in conducting your business. The realism that good forecasting provides can help you develop and improve your strategic plans by increasing your knowledge of the marketplace. The forecast that your sales force provides is the source of information that allows you to manage virtually all aspects of your business.Read More
Topics: Tax Planning & Strategies
A lesser-known provision of tax reform opens the door for small business owners to potentially tap into a new source of capital.
Enacted in late 2017, the Tax Cuts and Job Act has received plenty of attention for the numerous and significant ways it alters corporate and individual tax liability. Some of its provisions, however, are still not fully leveraged or recognized as the business community continues to adapt to the enormous, complex tax law.
One such provision is a change in the rules governing ownership in S corporations, a common organizational structure for many small businesses. The TCJA loosened some of the restrictions that have typically been associated with S corporation ownership, especially with respect to non-U.S. ownership.Read More
The IRS has updated the inflation-adjusted “luxury automobile” limits on certain deductions taxpayers can take for passenger automobiles — including light trucks and vans — used in their businesses. Revenue Procedure 2019-26 includes different limits for purchased automobiles that are and aren’t eligible for bonus first-year depreciation, as well as for leased automobiles.
The role of the TCJA
The Tax Cuts and Jobs Act (TCJA) amended Internal Revenue Code (IRC) Section 168(k) to extend and modify bonus depreciation for qualified property purchased after September 27, 2017, and before January 1, 2023, including business vehicles. Businesses can expense 100% of the cost of such property (both new and used, subject to certain conditions) in the year the property is placed in service.Read More
Topics: Tax Planning & Strategies
The IRS recently announced the inflation-adjusted maximum value of an employer-provided vehicle under the vehicle cents-per-mile rule and the fleet-average value rule. Employers can use the rules to value an employee’s personal use of such a vehicle for income and employment tax purposes.Read More
Higher Turnover May be Great for Inventory but Not so Much for Your Audit Team
Auditor that could be your kid – “What on earth is demurrage?”
You – “Seriously? What do your workpapers say from last year about it? Or maybe try using this thing called Google.”
Or, in the scenario that you get an auditor that knows everything there is to know.Read More