Blog
Doing the research – it’s in your nature.
Read our blog to stay in the know.
Read our blog to stay in the know.
Blog
Doing the research – it’s in your nature. Read our blog to stay in the know.
Internal Accounting Team or Outsourced Team: Which Is Right for Your Business?
Written by: Todd Ellis, CPA, MST, CGMA Every business, whether large or small, needs reliable accounting support to keep operations running smoothly—ensuring cash flow is managed, bills and employees are paid, and the business’s overall financial health is well understood.…
Supreme Court Ruling on Taxation of Corporate-Owned Life Insurance: What Business Owners Need to Know
Written by: William Cooper, CPA On June 6, 2024, the Supreme Court issued a ruling in Connelly v. United States that has significant implications for privately held business owners. The Court unanimously decided that the value of company-owned life insurance…
Estate Planning Essentials for Preserving Generational Wealth
Written by: Jordan Yorks Wealth preservation is a key concern for high- and ultra-high-net-worth individuals, especially when passing on assets to future generations. Estate planning is the cornerstone of ensuring that your wealth is transferred smoothly, efficiently, and according to…
IRS Adopts Final Digital Asset Tax Reporting Rules with Some Revisions
The IRS on June 28 issued final regulations on information reporting for digital asset transactions. The final regulations require “brokers” to report gross proceeds, cost basis, and gain or loss on sales and exchanges of digital assets, including cryptocurrency, stablecoins,…
Navigating Financial Audits: A Comprehensive Guide
Navigating a financial audit can be daunting, but with the right preparation and understanding, it can become a manageable and beneficial process. Financial audits help ensure the accuracy of your financial records and compliance with regulations and can reveal areas…
Walter Shuffain Achieves New Ranking as a 2024 IPA Top 200 Firm
Walter Shuffain has achieved recognition as an IPA Top 200 Firm by Inside Public Accounting (IPA). This marks the fourth consecutive year that the firm has secured a place on this prestigious list, ascending five positions to reach #178 from…
Top Three Manufacturing Trends for 2024
Earlier this year, BDO released our 2024 Manufacturing CFO Outlook Survey, which identified key manufacturing trends for the year ahead. To benchmark how these trends are evolving, we polled over 100 manufacturing professionals during our webinar, “Reshaping Manufacturing Resilience: The…
Mastering Your Business Finances: A Deep Dive into the Profit & Loss Report
Written by: Todd Ellis, CPA, MST, CGMA As a business owner, the Profit & Loss (P&L) report is one of your most vital tools. This financial statement gives a window into your business, revealing how your money is generated and…
The Joys of Home Ownership: Balancing Financial Support and Tax Consequences with Real Estate Wealth Transfer Strategies
For high-net-worth individuals, the art of wealth transfer extends beyond merely providing financial assistance to future generations; it is about strategically positioning the next generation for personal success. Unfortunately, it also requires navigating a complex landscape of income, gift, and…
The Tax Advantages of Inheriting a Home Over Gifting
Written by: David Bryant, CPA A common question, and one where many taxpayers often make mistakes, is whether it is better to receive a home as a gift or as an inheritance. Generally, from a tax perspective, it is more…
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