Choosing the right team to advise you can help you continue to grow your business while working towards your personal goals. An experienced exit planning professional can assist you in developing the right plan for your business and creating a balanced lifestyle by integrating your personal and professional goals.
Life can change quickly. If something unexpectedly happens to you, your business could be adversely affected and your day to day operations could come to a complete halt. Business owners must prepare for unexpected events and have a contingency plan for worst-case scenarios.
Bennett Thrasher, one of the largest and fastest-growing certified public accounting and consulting firms in the country, is pleased to announce that it has been recognized in four categories of the Daily Report’s Best of 2021 Reader Survey.
Financial reporting for gig workers (temporary, flexible workers such as independent contractors and freelancers instead of full-time employees) has always been complicated and recent legislation under The American Rescue Plan Act of 2021 (ARPA) will continue this complexity and have a significant impact on gig economy workers and the companies and platforms who host them.
As the COVID-19 pandemic continues to dissipate, it’s important for construction companies to implement a proactive and aggressive approach to managing their risk. To protect their overall well-being, business owners must consider whether the vendors and subcontractors they’re working with are able to maintain their position financially, especially as projects and workloads ramp up.
Recent estimates by the Internal Revenue Service (IRS) indicate that nearly $1 trillion in legally owed taxes go uncollected each year, making addressing this gap a major focus for both the IRS and Biden administration. In fact, it has been proposed by the current administration to increase the IRS’s budget by $80 billion over the next 10 years.
Bennett Thrasher recently collaborated with Sovos, a tax software solution provider, on a webinar discussing what software and digital goods suppliers need to know about the sales tax.
Several key calculations can help you determine gaps in your business that may prevent you from meeting your goals. Our graphic explains the three most important gaps that exist for most business owners and shares how to calculate these gaps to determine how to best meet your business and personal goals.
More than seven weeks after the American Rescue Plan Act (ARPA) was signed into law authorizing the $28.6 billion Restaurant Revitalization Fund (RRF), access to this much-anticipated grant program is now within sight. The U.S. Small Business Administration’s (SBA) RRF Application Portal is set to open for account registration on Friday, April 30, 2021 at 9:00 AM EDT.
On April 9, 2021, the IRS issued IR-2021-82, which urged participants in abusive micro-captive insurance arrangements to exit these transactions as soon as possible. At the time of the release, the IRS noted it has increased examinations of micro-captive arrangements and that it recently won another US Tax Court Case with the March 10, 2021 ruling in Caylor Land & Development, Inc. v. Commissioner, T.C. Memo 2021-30 (“Caylor”).
The COVID-19 pandemic has impacted, to varying degrees, both the current and future financial performance of almost every company across all industries. As a result, assessing goodwill impairment has become a hot topic, with some companies taking another look at the valuation-related processes surrounding their existing goodwill impairment procedures.
Bennett Thrasher, one of the largest and fastest-growing certified public accounting and consulting firms in the country, is pleased to announce it has been selected to online career resource Vault.com’s Accounting 50 and Most Prestigious Accounting Firms lists for 2022.