Check out our articles for family businesses below. Like what you see? Get timely updates about these topics and more delivered straight to your inbox by signing up for our monthly email newsletter.
Extensive reporting requirements stemming from the Corporate Transparency Act will affect many business owners starting January 1.
Identifying related parties is just one of many parts that go into preparing financial statements. Here’s why they matter, why auditors give them scrutiny, and how to avoid the risks that often accompany them.
At some point as a business owner, you might entertain the idea of selling and moving on to a new endeavor. The process of selling a business can be tedious, but having a plan in place and knowing the tax implications of a business sale can help reduce the stress and, potentially, the tax implications.
Scammers are hyping quick, easy money from the employee retention tax credit, but despite what you might hear in the slick advertisements, the IRS has a warning for employers.
The cost of goods sold can account for 70% of a company’s expenses, according to recent discussions by the FASB’s Investor Advisory Committee. However, some companies skimp on details around the costs they incur to produce goods. The FASB’s disaggregation of income statement project could change that.
Every business can be an innovator. The research tax credit is a way to reward that innovation, and it comes with an intriguing feature related to payroll taxes.
Depending on the nature of your company’s operations, your balance sheet may include inventory totals. Here’s why your inventory system might be flawed and giving you the wrong numbers.
Businesses and nonprofit groups are gradually adjusting to requirements of the new lease accounting standard, such as bringing most leases onto the balance sheet. Since ASC 842 can seem confusing, here’s a quick guide to ease the adjustment period.
Being fully prepared and organized can help your financial statement audit go smoothly and ultimately save your business or organization time, money, and headaches.
For more information, please view our breadth of services for family-owned businesses:
“KraftCPAs has taken care of the Zeitlin family business for three generations. We all sleep better at night knowing that KraftCPAs is looking out for our best interest.”
Shirley Zeitlin, Zeitlin Sotheby’s International Realty®
