Business and CPA Articles

In construction, reported profit does not always translate into cash in the bank. A contractor may have a strong backlog, profitable projects, and growing revenue while still experiencing liquidity challenges.

One of the most important indicators of both project performance and cash flow health is the relationship between revenue earned and amounts billed to project owners. These balances commonly appear on a contractor’s Work-in-Progress (WIP) schedule as underbillings (costs and estimated profits in excess of billings) and overbillings (billings in excess of costs and estimated profits).

Digital products has long been a complex and evolving area of sales tax across the U.S. California, which historically exempted many electronically delivered digital products from sales tax, is making a significant policy change that will affect software companies, technology providers, and businesses purchasing digital products.

Under legislation enacted through California Senate Bill 122, the definition of tangible personal property for California sales and use tax purposes will expand effective January 1, 2027, bringing many digital products within the scope of taxation. The CDTFA recently issued Special Notice L-1036 outlining the new rules and compliance requirements.

Effective October 1, 2026, the U.S. Small Business Administration’s updated SOP 50 10 8.1 introduces a significant new requirement for many SBA-financed business acquisitions. For certain transactions with purchase prices of $3 million or more, lenders must now obtain a Quality of Earnings (QoE) report in addition to the traditional business valuation.

U.S. Customs and Border Protection (“CBP”) has formally launched Phase 1 of the Consolidated Administration and Processing of Entries (CAPE) platform as of April 20, 2026. CAPE is CBP’s long-awaited electronic mechanism for administering refunds of tariffs imposed under the International Emergency Economic Powers Act (IEEPA) following recent court decisions that invalidated those tariffs.

An important sales tax change is coming for Mecklenburg County businesses. Starting July 1, 2026, the total sales and use tax rate in Mecklenburg County will increase from 7.25% to 8.25%. This change is the result of an additional 1.00% county rate recently authorized by the North Carolina Department of Revenue. Here is what you need to know and how to prepare before the deadline.

If your company has paid tariffs under the International Emergency Economic Powers Act (IEEPA) over the past year, you may be entitled to significant refunds depending on the outcome of a pending Supreme Court case. The financial impact could be substantial, with an estimated $75-$85 billion in IEEPA-related duties collected since April 2025.

As manufacturers close the books on another challenging year, tariffs have evolved from a minor line item to a material cost factor that can make or break product profitability. Getting inventory valuation right isn’t just about compliance—it’s about preserving cash flow, optimizing tax positions, and maintaining the financial flexibility needed to weather ongoing trade volatility. The companies that approach year-end with a comprehensive strategy addressing both technical accounting requirements and broader operational implications will be best positioned to navigate whatever 2025 brings.

In response to the challenges private entities face with current credit loss standards, the FASB has introduced ASU 2025-05, simplifying credit loss forecasting for short-term receivables. This update provides significant relief by reducing the burden of complex economic projections, offering practical expedients and policy options for a more aligned and efficient financial reporting process. Discover how these changes can streamline your compliance and improve your financial statements.

Discover the latest inflation-adjusted tax changes for the 2026 tax year, driven by the One, Big, Beautiful Bill Act (OBBBA). From standard deduction hikes and modified marginal tax rate thresholds to expanded credits for adoption and employer-provided childcare, these updates can significantly influence your financial planning. Delve into how these modifications could impact your taxes and optimize your strategy for the upcoming year.

The latest IRS final regulations under the SECURE 2.0 Act increase catch-up contribution limits for individuals aged 60 to 63 and require Roth contributions for higher-income earners. These changes aim to enhance retirement readiness but require plan administrators to navigate new operational complexities. Explore how these rules reshape retirement strategies and the paths to compliance.

Nonprofit organizations often grapple with balancing financial transparency and operational costs. This article explores how financial reviews and agreed-upon procedures (AUPs) can offer cost-effective alternatives to full-scale audits, helping nonprofits maintain donor trust while conserving resources for their core mission. Discover the benefits and strategic considerations of choosing the right financial assurance method for your organization.

The One Big Beautiful Bill Act (“OBBBA”), enacted July 4, 2025, represents the most sweeping set of business tax reforms since the Tax Cuts and Jobs Act of 2017. OBBBA makes permanent and expands many temporary provisions from prior law, introduces new incentives, and repeals or curtails a range of green energy tax benefits. This article provides a summary of the most significant international tax law changes, their effective dates, and practical implications for business taxpayers.

The One Big Beautiful Bill Act (“OBBBA”), enacted July 4, 2025, represents the most sweeping set of business tax reforms since the Tax Cuts and Jobs Act of 2017. The OBBBA makes permanent and expands many temporary provisions from prior law, introduces new incentives, and repeals or curtails a range of green energy tax benefits. This article provides a summary of the most significant business tax law changes, their effective dates, and practical implications for business taxpayers.

The major individual tax law changes for 2025 and beyond under the One Big Beautiful Bill Act (“OBBBA”) are provided.

Summertime brings not just sunshine but also critical 401(k) audit deadlines for many organizations. This comprehensive guide breaks down when an audit is necessary, common pitfalls to avoid, and best practices to streamline the process. Prepare proactively to maintain compliance and the trust of your plan participants—don’t let the season catch you off guard!

The U.S. House of Representatives has recently passed a bill incorporating a significant amendment to the Internal Revenue Code known as Proposed Section 899. This provision, titled ‘Enforcement of Remedies Against Unfair Foreign Taxes’, is aimed at corporations, individuals, and governments of countries that levy discriminatory or extraterritorial taxes on U.S. citizens or corporations. The measure seeks to counter these practices by subjecting the entities involved to heightened U.S. tax rates.

The US tariff landscape is undergoing significant transformations, with potentially far-reaching implications for businesses, particularly manufacturers and distributors. This article explores these changes, the challenges they pose, and how businesses can successfully navigate this evolving landscape.

Dive into our analysis of President Trump’s 2025 tax proposals and discover how they could reshape the American economic landscape. Learn how these potential changes might affect you, your business, or your investments

Accurate financial forecasting is crucial for navigating the complex financial challenges of construction projects, from unpredictable cash flows to fluctuating costs. Discover strategies to improve forecasting accuracy, enhance decision-making, and strengthen stakeholder relationships by leveraging technology, improving financial reporting, and more. Read on to position your construction business for sustainable growth and success.

In the construction industry, managing risks associated with construction claims is crucial to maintaining financial stability and preventing costly disputes. This article explores the pivotal role accountants play in navigating these challenges, offering insights into risk mitigation, financial planning, and strategic management to ensure successful project outcomes. Discover how proactive financial management can enhance client collaboration and streamline project execution.

Navigating the complexities of the current real estate market requires understanding both financial and tax implications of distressed property scenarios. This article explores key strategies for mitigating tax liabilities and managing financial distress, offering insights on debt outcomes and proactive planning. Discover how expert guidance and effective tax planning can help real estate owners maintain stability and prepare for future success.

Embarking on your first employee benefit plan audit can be daunting, but with the right preparation, it becomes a valuable opportunity to enhance your plan’s compliance and operations. This guide offers essential strategies to navigate the audit process, from selecting an expert auditor to understanding your fiduciary responsibilities, ensuring a successful and less stressful experience. Discover the key steps to mastering your first audit and empowering your organization’s benefit plan.

The SECURE 2.0 Act of 2022 is revolutionizing retirement planning with new provisions set to take effect in 2025, enhancing savings opportunities and broadening plan participation. From increased catch-up contributions to expanded eligibility for part-time workers, discover what these changes mean for both employers and employees. Don’t miss out on understanding how these updates could impact your retirement future!

Unlock the hidden value of your real estate investments with cost segregation studies. This powerful strategy accelerates tax depreciation deductions, boosting cash flow and enhancing property profitability. Discover how expert insights and precise asset reclassification can transform your financial landscape in our comprehensive guide.

EBITDA (Earnings Before Interest, Taxes, Depreciation, and Amortization) and related EBITDA adjustments, commonly referred to as addbacks, hold substantial implications for enterprise value. This article will delve into the impacts of EBITDA adjustments on enterprise value, providing key insights into the valuation methodologies driving today’s M&A market.

The Internal Revenue Service (IRS) issued proposed regulations, effective for defined contribution plan years beginning on or after January 1, 2024, clarifying the timing and usage of forfeitures. The Internal Revenue Service (IRS) issued proposed regulations, effective for defined contribution plan years beginning on or after January 1, 2024, clarifying the timing and usage of forfeitures.

In the complex world of mergers and acquisitions (M&A), a sell-side Quality of Earnings (QoE) report plays a crucial role in determining a company’s financial health and sustainability of its earnings. Far from being an unnecessary expense or an added complexity, a QoE report is a powerful tool that can provide key insights to both potential sellers and buyers, streamline the transaction process, and help maximize sale value.

In the complex world of mergers and acquisitions (M&A), a sell-side Quality of Earnings (QoE) report plays a crucial role in determining a company’s financial health and sustainability of its earnings. Far from being an unnecessary expense or an added complexity, a QoE report is a powerful tool that can provide key insights to both potential sellers and buyers, streamline the transaction process, and help maximize sale value.