Business Consulting and Planning

IRS Increases Some Standard Mileage Rates for Second Half of 2022 by Steven Rubin, CPA

Posted on September 23, 2022 by Steven Rubin

To account for persistent inflation and higher fuel prices, the IRS raised some of the standard mileage rates taxpayers may use to calculate the deductible costs of operating cars, vans or trucks for business, charitable, medical or moving purposes during the final six months of 2022. Taxpayers also have the option to calculate these deductible […]

Podcast – BPB Knows Quality of Earnings Reports

Posted on September 01, 2022 by Hector Aguililla

In this episode Director of Assurance and Advisory Services Hector Aguililla describes quality of earnings reports and why they are so valuable to buyers and sellers in M&A transactions.

There’s Still Time for Businesses to Claim Employee Retention Tax Credits by Andrew Leonard, CPA

Posted on August 19, 2022 by Andrew Leonard

Although it has been two years since Congress introduced the Employee Retention Tax Credit (ERC) to help businesses and non-profits keep workers employed through the COVID-19 pandemic, many qualifying entities failed to claim the credits on their 2020 and 2021 tax returns. The good news is there’s still time for employers to request a retroactive […]

UPDATED – What Does the Inflation Reduction Act Mean to Taxpayers? by Richard Cabrera, JD, LLM, CPA

Posted on August 12, 2022 by Richard Cabrera

The Inflation Reduction Act signed into law on Aug. 16, 2022, represents an investment of more than $430 billion in new federal spending to combat climate change, reduce consumers’ healthcare costs and lower the deficit. To help raise the revenue required to accomplish these goals, the bill includes a package of tax reforms impacting consumers […]

The Rewards and Risks of Investing in Master Limited Partnerships, by Jeffrey M. Mutnik, CPA/PFS

Posted on August 11, 2022

Master limited partnerships (MLPs) are publicly traded businesses that usually make periodic distributions of their tax-advantaged income to the limited partner owners to avoid corporate taxes. Most often they operate in the traditionally stable energy and natural resource industries, which provide partners with a steady income stream and predictable returns. In fact, as of July […]

Inflation Reduction Act Proposes Limits to Tax Benefits of Carried Interest by John G. Ebenger, CPA

Posted on August 02, 2022 by John Ebenger

During the last week of July, Democrats in the U.S. Senate introduced the Inflation Reduction Act of 2022, which provides a new package of spending and tax measures designed to decrease the federal deficit while expanding adoption of clean energy, health insurance coverage and IRS compliance efforts. Among the policy changes recommended to help pay […]

Employer Benefit Plan Sponsors Face New Audit Requirements by Melissa Fleitas, CPA

Posted on June 27, 2022 by Melissa Fleitas

The July 31 deadline for businesses to file annual employee benefit plan returns (or request a two and a half month filing extension) is right around the corner. While all employers offering defined contribution plans will find a few changes to the information reporting requirements found on IRS Form 5500, those with 100 or more […]

Podcast – BPB Knows SOC Reporting

Posted on June 02, 2022

In this episode Director of Consulting Services Steve Nouss explains the various types of SOC reports. Companies that have their processes reviewed under SOC standards give peace of mind to vendors and customers.

Now is the Time to Prepare Your Business for Hurricane Season by Daniel S. Hughes, CPA/CFF/CGMA, CVA

Posted on May 23, 2022 by Daniel Hughes

June 1 marks the start of the Atlantic hurricane season and the potential for tropical force winds and heavy rainfall to damage property and impede business operations. The key to minimizing losses and getting your company back up and running after a storm is to have an actionable plan in place before the National Weather […]

Owning and Selling C Corporations vs. S Corporations by David E. Kolan, CPA

Posted on May 18, 2022 by David Kolan

The pandemic has spurred a tsunami of entrepreneurial new businesses. According to the U.S. Census Bureau, a record 5.4 million new business applications were filed in 2021, compared to 4.4. million in 2020 compared to 3.5 million before the pandemic in 2019. Whether these ventures will prove successful remains to be seen, but each one […]

Category: Business Consulting and Planning