As a business owner, choosing how to handle your finances is one of the biggest, if not the biggest, decisions you can make. There are many things to consider when choosing between hiring an accounting firm versus using an accounting software. There are benefits of both options so here are….
At Ellrich, Neal, Smith & Stohlman, P.A., we deal with a variety of self-employed individuals. We often hear them talk about the tax deductions available for a corporation as opposed to a sole proprietorship. First of all, any deductions you can take on a corporate tax return are available on your….
From August 2019 to August 2020, there were a total of 12,123 merger and acquisition deals negotiated between businesses. Regardless if the agreements are large or small, each financial negotiation comes with its own set of complexities and requires intricate attention to detail. If you’re looking to complete your own….
Your divorce if over, the ink is dry on your settlement agreement or final judgement, as the case maybe. Now begins the picking up of the financial pieces. As a family, your financial status was fairly affluent. There was the large marital home, the vacation home, retirement accounts and savings/investment….
While the pandemic still carries on, Tax Day in the United States has return to its traditional deadline of April 15th. Those who remember filing federal income taxes later last year (it was pushed to July 15th in 2020) will need to prepare accordingly. Like in all other years past,….
The act of giving to charity is something has been at the forefront of many American’s minds lately. From dealing with the pandemic fallout to grappling with the social issues that have plagued the nation, thinking about those struggling often inspires giving. COVID-19 has had a major impact on the….
On both a national and global scale, the COVID-19 pandemic has had a major economic impact. From restructuring to closing shop altogether, businesses both large and small have had to make adjustments to reflect the new current normal. Globally, mergers and acquisitions have felt a true material impact of the….
A business valuation is the process used to evaluate the economic value of the owner’s interest in their business. While many business owners only receive a valuation when absolutely needed, it can be very beneficial to be proactive with business valuations, especially when planning for the future. Here are the….
Unfortunately, fraudulent activity among businesses has experience a steady increase in the past few years. With the increasing power and connectivity of the internet, it seems to be easier than ever to experience fraud. The Global Fraud and Identity Report from 2018 reported that 33% of businesses experienced more fraud….
Lost profits refer to any economic damages that are the result of some type of business disruption. These damages are estimates that are determined by a range of factors, including things like breach of contract, negligent acts, patent infringement, physical damage to business equipment or property, and liability brought about….