blog
November 23, 2022
Don’t Fall for Invoice Fraud Schemes

Middle-market businesses lose an average of almost $300,000 annually to invoice fraud, according to a recent survey by software company Medius and researcher Censuswide. Invoice fraud can be challenging to spot — and even more difficult to recover from — but your company...

November 15, 2022
November 21, 2022: Section 174 R&D Costs Update Webinar Recording

The Tax Cuts & Jobs Act made significant changes to the tax treatment of R&D costs that will affect almost every company in 2022. Boyum Barenscheer's Greg Carlson and Aprio's Dave Hanson hold a webinar that covers the changes, impact on businesses and steps needed to incorpo...

November 7, 2022
2023 Limits for Businesses That Have HSAs — or Want to Establish Them

No one needs to remind business owners that the cost of employee health care benefits keeps going up. One way to provide some of these benefits is through an employer-sponsored Health Savings Account (HSA). For eligible individuals, an HSA offers a tax-advantaged way to set ...

November 4, 2022
Inflation Means You and Your Employees Can Save More for Retirement in 2023

How much can you and your employees contribute to your 401(k)s next year — or other retirement plans? In Notice 2022-55, the IRS recently announced cost-of-living adjustments that apply to the dollar limitations for pensions, as well as other qualified retirement plans for...

November 2, 2022
Finding Comparable Transactions to Use in Business Valuation

The market approach is an intuitive way to value a private business interest. It bases the subject company’s value on sales of other similar businesses or business interests, which are commonly referred to as “guideline transactions” or “comparables.” Each business...

October 31, 2022
The Audit is Over. Now What?

Whew! That’s probably your reaction when outside experts announce that their audit of your not-for-profit is complete. But even if auditors have left your premises and returned the documents they’ve reviewed, the work isn’t really over. Not only do your executive direc...

October 26, 2022
Employers: In 2023, the Social Security Wage Base is Going Up

The Social Security Administration recently announced that the wage base for computing Social Security tax will increase to $160,200 for 2023 (up from $147,000 for 2022). Wages and self-employment income above this threshold aren’t subject to Social Security tax....

October 21, 2022
Keep Your Religious Congregation on the Financial Straight and Narrow

Religious congregations usually enjoy greater protection from federal government oversight than other not-for-profit organizations. For example, the IRS can’t conduct a “church tax inquiry” unless a high-level Treasury Department official has written evidence that a re...

October 5, 2022
Worried About an IRS Audit? Prepare in Advance

IRS audit rates are historically low, according to a recent Government Accountability Office (GAO) report, but that’s little consolation if your return is among those selected to be examined. Plus, the IRS recently received additional funding in the Inflation Reduction Act...

October 3, 2022
Lost Your Tax-Exempt Status? Here’s How to Regain It

So you forgot to file your not-for-profit’s Form 990, 990-EZ or 990-N with the IRS. It can happen — particularly with newer organizations that are still trying to get a handle on all the financial and regulatory requirements of running a nonprofit. However, if you forget...

September 27, 2022
Inflation Reduction Act’s Impact on Your Taxes

The Inflation Reduction Act (IRA) was signed into law on August 16, 2022.  Here are the significant provisions:...

September 27, 2022
Student Loan Forgiveness

President Joe Biden announced on Aug. 24 that most federal student loan borrowers will be eligible for some forgiveness.  The forgiveness would be up to $10,000 if you didn’t receive a Pell Grant, and up to $20,000 if you did. The Whitehouse fact sheet states if all el...