RRBB supports Ukraine through PrimeGlobal affiliation Get Updates + Resources

Contact Us ShareFile Login Client Axcess™ Make a Payment
    • About
      • Mission
      • Team
      • Culture
    • Services
      • For Businesses
      • For Individuals
      • Litigation Support
      • Industries
    • News + Insights
      • News
      • Blogs
      • Resources
      • Videos
    • Events
    • Careers
      • RRBB Careers
      • Job Listings
      • Internship Program
    • Testimonials
    • Make a Payment
    Contact Us
    ShareFile Login
    Client Axcess
    Posts

    The chances of an IRS audit are low, but business owners should be prepared

    Many business owners ask: How can I avoid an IRS audit? The good news is that the odds against being...

    Posts

    Does your team know the profitability game plan?

    Autumn brings falling leaves and … the gridiron. Football teams — from high school to pro — are trying to...

    Posts

    IRS provides additional guidance on bonus depreciation under the TCJA

    The IRS has released final regulations and another round of proposed regs for the first-year 100% bonus depreciation deduction. The...

    Posts

    Management letters: Have you implemented any changes?

    Audited financial statements come with a special bonus: a “management letter” that recommends ways to improve your business. That’s free...

    Posts

    5 ways to withdraw cash from your corporation while avoiding dividend treatment

    Do you want to withdraw cash from your closely held corporation at a low tax cost? The easiest way is...

    Posts

    Budgeting is key to a successful start-up

    More than half of recent college graduates plan to start a business someday, according to the results of a survey...

    Posts

    When it comes to asset protection, a hybrid DAPT offers the best of both worlds

    A primary estate planning goal for most people is to hold on to as much of their wealth as possible...

    Posts

    For best results, start your strategic planning early

    Time flies when you’re having fun — and running a business. Although it’s probably too early to start chilling a...

    Posts

    Auditing grant compliance

    Has your organization received any public or private grants to fund its growth? Grants sometimes require an independent audit by...

    Posts

    Control how your charitable gifts are used by adding restrictions

    If philanthropy is an important part of your estate planning legacy, consider taking steps to ensure that your donations are...

    Posts

    Putting together the succession planning and retirement planning puzzle

    Everyone needs to plan for retirement. But as a business owner, you face a distinctive challenge in that you must...

    Posts

    The key to retirement security is picking the right plan for your business

    If you’re a small business owner or you’re involved in a start-up, you may want to set up a tax-favored...

    Posts

    Take intrafamily lending to the next level by establishing a family bank

    One of the primary goals of estate planning is to put in writing how you want your wealth distributed to...

    Posts

    Some business owners can’t participate in their own companies’ HRAs

    Many companies now offer Health Reimbursement Arrangements (HRAs) in conjunction with high-deductible health plans (HDHPs). HRAs offer some advantages over...

    Posts

    The tax implications of a company car

    The use of a company vehicle is a valuable fringe benefit for owners and employees of small businesses. This benefit...

    Posts

    Expanded 529 plans offer unique estate planning benefits

    If you’re putting aside money for college or other educational expenses, consider a tax-advantaged 529 savings plan. Also known as...

    Posts

    Should you elect S corporation status?

    Operating a business as an S corporation may provide many advantages, including limited liability for owners and no double taxation...

    Posts

    What to expect during a franchise audit

    It’s important for franchisors to periodically audit individual franchisees. These routine “check-ups” are especially valuable in a store’s early years...

    Posts

    What to do if your business receives a “no-match” letter

    In the past few months, many businesses and employers nationwide have received “no-match” letters from the Social Security Administration (SSA)....

    Posts

    Reporting discontinued operations

    Financial reporting generally focuses on the results of continuing operations. But sometimes businesses sell (or retire) a product line, asset...

    Posts

    Understanding the contents of a will

    You probably don’t have to be told about the need for a will. But do you know what provisions should...

    Posts

    Is it time to hire a CFO or controller?

    Many business owners reach a point where managing the financial side of the enterprise becomes overwhelming. Usually, this is a...

    Posts

    The IRS is targeting business transactions in bitcoin and other virtual currencies

    Bitcoin and other forms of virtual currency are gaining popularity. But many businesses, consumers, employees and investors are still confused...

    Posts

    What’s the difference between the two types of power of attorney?

    When drafting your estate plan, you and your attorney must account for what happens to your children and your assets...

    Posts

    Taking a long-term approach to certain insurance documentation

    After insurance policies expire, many businesses just throw away the paper copies and delete the digital files. But you may...

    Posts

    Take a closer look at home office deductions

    Working from home has its perks. Not only can you skip the commute, but you also might be eligible to...

    Posts

    Attention: Accounting rule delays in the works

    On July 17, the Financial Accounting Standards Board (FASB) voted to issue a proposal that would delay several landmark accounting...

    Posts

    Naming a trustee may be one of the most important decisions of your life

    When it comes to estate planning, trusts are appealing for many reasons. They can enable you to hold and transfer...

    Posts

    Run your strategic-planning meetings like they really matter

    Many businesses struggle to turn abstract strategic-planning ideas into concrete, actionable plans. One reason why is simple: ineffective meetings. The...

    Posts

    Businesses can utilize the same information IRS auditors use to examine tax returns

    The IRS uses Audit Techniques Guides (ATGs) to help IRS examiners get ready for audits. Your business can use the...

    Posts

    A buy-sell agreement can provide the liquidity to cover estate taxes

    If you own an interest in a closely held business, it’s critical to have a well-designed, properly funded buy-sell agreement....

    Posts

    It’s a good time to buy business equipment and other depreciable property

    There’s good news about the Section 179 depreciation deduction for business property. The election has long provided a tax windfall...

    Posts

    Why do companies restate financial results?

    Every year, research firm Audit Analytics publishes a study about financial restatement trends. In 2018, the number of public companies...

    Posts

    Thinking about a Roth IRA conversion? Now may be the ideal time

    Roth IRAs offer significant estate planning and financial benefits. If you have a substantial balance in a traditional IRA and...

    Posts

    Is your accounting software living up to the hype?

    Accounting software typically sells itself as much more than simple spreadsheet or ledger. The products tend to pride themselves on...

    Posts

    M&A transactions: Avoid surprises from the IRS

    If you’re considering buying or selling a business — or you’re in the process of a merger or acquisition —...

    Posts

    Bartering: A taxable transaction even if your business exchanges no cash

    Small businesses may find it beneficial to barter for goods and services instead of paying cash for them. If your...

    Posts

    The pros and cons of interim reporting

    The Securities and Exchange Commission (SEC) requires certain public companies to publish quarterly financial statements to give investors insight into...

    Posts

    4 negative outcomes of jointly owning property with a family member

    A common estate planning mistake that people make is to own property jointly with an adult child or other family...

    Posts

    Grading the performance of your company’s retirement plan

    Imagine giving your company’s retirement plan a report card. Would it earn straight A’s in preparing your participants for their...

    Posts

    Which entity is most suitable for your new or existing business?

    The Tax Cuts and Jobs Act (TCJA) has changed the landscape for business taxpayers. That’s because the law introduced a...

    Posts

    A divorce necessitates an estate plan review

    If you’re divorcing, it’s important to review your estate plan as early as possible, for two reasons: First, you may...

    Posts

    Put a number on your midyear performance with the right KPIs

    We’ve reached the middle of the calendar year. So how are things going for your business? Conversationally you might say,...

    Posts

    How auditors use nonfinancial information

    Every financial transaction your company records generates nonfinancial data that doesn’t have a dollar value assigned to it. Though auditors...

    Posts

    Ease itemized deduction limitations using a nongrantor trust

    The record-high exemption amount currently in effect means that fewer families are affected by gift and estate taxes. As a...

    Posts

    Could you unearth hidden profits in your company?

    Can your business become more profitable without venturing out of its comfort zone? Of course! However, adding new products or...

    Posts

    Hiring this summer? You may qualify for a valuable tax credit

    Is your business hiring this summer? If the employees come from certain “targeted groups,” you may be eligible for the...

    Posts

    Employers: Be aware (or beware) of a harsh payroll tax penalty

    If federal income tax and employment taxes (including Social Security) are withheld from employees’ paychecks and not handed over to...

    Posts

    IRS wheels out additional guidance on company cars

    The IRS has updated the inflation-adjusted “luxury automobile” limits on certain deductions taxpayers can take for passenger automobiles — including...

    Posts

    Measuring “fair value” for financial reporting purposes

    The standard for valuing certain assets and liabilities under U.S. Generally Accepted Accounting Principles (GAAP) is “fair value.” This differs...

    Posts

    Charitable lead trusts offer philanthropic and family benefits

    Affluent families who wish to give to charity while minimizing gift and estate taxes should consider a charitable lead trust...

    Posts

    Targeting and converting your company’s sales prospects

    Companies tend to spend considerable time and resources training and upskilling their sales staff on how to handle existing customers....

    Posts

    Tax-smart domestic travel: Combining business with pleasure

    Summer is just around the corner, so you might be thinking about getting some vacation time. If you’re self-employed or...

    Posts

    Leave your mark with a dynasty trust

    If a prime objective of your estate plan is to leave a lasting legacy, a dynasty trust may be the...

    Posts

    IRS updates rules for personal use of employer-provided vehicles

    The IRS recently announced the inflation-adjusted maximum value of an employer-provided vehicle under the vehicle cents-per-mile rule and the fleet-average...

    Posts

    Close-up on financial statements

    There are three types of financial statements under U.S. Generally Accepted Accounting Principles (GAAP). Each one reveals different, but equally...

    Posts

    Beware if your estate plan leaves specific assets to specific heirs

    Planning your estate around specific assets is risky and, in most cases, should be avoided. If you leave specific assets...

    Posts

    The simple truth about annual performance reviews

    There are many ways for employers to conduct annual performance reviews. So many, in fact, that owners of small to...

    Posts

    Consider a Roth 401(k) plan — and make sure employees use it

    Roth 401(k) accounts have been around for 13 years now. Studies show that more employers are offering them each year....

    Posts

    Comparing internal and external audits

    Businesses use two types of audits to gauge financial results: internal and external. Here’s a closer look at how they...

    Posts

    What type of expenses can’t be written off by your business?

    If you read the Internal Revenue Code (and you probably don’t want to!), you may be surprised to find that...

    Posts

    Does your estate plan include a formula funding clause?

    The gift and estate tax exemption is higher than it’s ever been, thanks to the Tax Cuts and Jobs Act...

    Posts

    Should your health care plan be more future-focused?

    The pace of health care cost inflation has remained moderate over the past year or so, and employers are trying...

    Posts

    Employee vs. independent contractor: How should you handle worker classification?

    Many employers prefer to classify workers as independent contractors to lower costs, even if it means having less control over...

    Posts

    Close-up on professional standards for CPAs

    The accounting profession is largely self-regulated by the American Institute of Certified Public Accountants (AICPA). Part of its mission involves...

    Posts

    Estate planning for single parents requires special considerations

    Here’s a fast fact: The percentage of U.S. children who live with an unmarried parent has jumped from 13% in...

    Posts

    Put a QOE report to work for you

    An independent quality of earnings (QOE) report can be a valuable tool in mergers and acquisitions. It’s important for both...

    Posts

    Deducting business meal expenses under today’s tax rules

    In the course of operating your business, you probably spend time and money “wining and dining” current or potential customers,...

    Posts

    Now or later? When to report subsequent events

    Financial statements present a company’s financial position as of a specific date, typically the end of the year or quarter....

    Posts

    Add spendthrift language to a trust to safeguard assets

    Protecting assets from creditors is a critical aspect of estate planning, but you need to think about more than just...

    Posts

    Divorcing business owners need to pay attention to tax implications

    If you’re getting a divorce, you know it’s a highly stressful time. But if you’re a business owner, tax issues...

    Posts

    Auditing accounting estimates and the use of specialists

    The Public Company Accounting Oversight Board (PCAOB) recently voted to finalize two related standards aimed at improving audits of accounting...

    Posts

    If art donations are part of your estate plan, consider these four tips

    Charitable giving is a key part of estate planning for many people. If you have a collection of valuable art...

    Posts

    Present yet unaccounted for: The problem of presenteeism

    Absenteeism has typically been a thorn in the side of many companies. But there’s a flip side to employees failing...

    Posts

    Understanding how taxes factor into an M&A transaction

    Merger and acquisition activity has been brisk in recent years. If your business is considering merging with or acquiring another...

    Posts

    Simplifying the accounting rules for convertible debt and equity

    Distinguishing between liabilities and equity on a company’s balance sheet may seem straightforward. But difficulties arise when it comes to...

    Posts

    Be vigilant about your business credit score

    As an individual, you’ve no doubt been urged to regularly check your credit score. Most people nowadays know that, with...

    Posts

    Transparency is key with related party transactions

    In recent years, external auditors have focused more attention on related party transactions. Although related party transactions aren’t necessarily bad,...

    Posts

    Could your business benefit from the tax credit for family and medical leave?

    The Tax Cuts and Jobs Act created a new federal tax credit for employers that provide qualified paid family and...

    Posts

    ESG issues: To report or not to report?

    Securities and Exchange Commission (SEC) Chairman Jay Clayton recently said that public companies shouldn’t be required to disclose information concerning...

    Posts

    Companion piece: Create a “road map” for your estate plan

    No matter how much effort you’ve invested in designing your estate plan, your will, trusts and other official documents may...

    Posts

    There’s still time for small business owners to set up a SEP retirement plan for last year

    If you own a business and don’t have a tax-advantaged retirement plan, it’s not too late to establish one and...

    Posts

    Automating your accounting department

    Many businesses have adopted robotic process automation (RPA), or plan to do so in the future. While most RPA initiatives...

    Posts

    Will leasing equipment or buying it be more tax efficient for your business?

    Recent changes to federal tax law and accounting rules could affect whether you decide to lease or buy equipment or...

    Posts

    Audits home in on cybersecurity

    In 2018, U.S. organizations that suffered a data breach lost an average of $7.91 million as a result. That’s the...

    Posts

    No, it’s not unusual to include your pet in your estate plan

    An unexpected outcome of the recent death of designer Karl Lagerfeld is that the topic of estate planning for pets...

    Posts

    Are your employees ignoring their 401(k)s?

    For many businesses, offering employees a 401(k) plan is no longer an option — it’s a competitive necessity. But employees...

    Posts

    Beware the Ides of March — if you own a pass-through entity

    Shakespeare’s words don’t apply just to Julius Caesar; they also apply to calendar-year partnerships, S corporations and limited liability companies...

    Posts

    How to report stock compensation paid to nonemployees

    The accounting rules for reporting stock compensation have been expanded. They now include share-based payments to nonemployees for providing goods...

    Posts

    Don’t let scope creep ruin your next IT project

    Today’s business technology is both powerful and restive. No matter how “feature rich” a software solution or hardware asset may...

    Posts

    The home office deduction: Actual expenses vs. the simplified method

    If you run your business from your home or perform certain functions at home that are related to your business,...

    Posts

    What you need to know about filing gift and estate tax returns

    Have you made substantial gifts of wealth to family members? Or are you the executor of the estate of a...

    Posts

    Best practices when filing a business interruption claim

    Many companies, especially those that operate in areas prone to natural disasters, should consider business interruption insurance. Unlike a commercial...

    Posts

    When are LLC members subject to self-employment tax?

    Limited liability company (LLC) members commonly claim that their distributive shares of LLC income — after deducting compensation for services...

    Posts

    Financial statements tell your business’s story, inside and out

    Ask many entrepreneurs and small business owners to show you their financial statements and they’ll likely open a laptop and...

    Posts

    Fundamental tax truths for C corporations

    The flat 21% federal income tax rate for C corporations under the Tax Cuts and Jobs Act (TCJA) has been...

    Posts

    Private companies: Have you implemented the new revenue recognition standard?

    Private companies that follow U.S. Generally Accepted Accounting Principles (GAAP) must comply with the landmark new revenue recognition standard in...

    Posts

    An ESOP can benefit a business owner’s retirement and estate plans

    Employee stock ownership plans (ESOPs) offer closely held business owners an exit strategy and a tax-efficient technique for sharing equity...

    Posts

    Refine your strategic plan with SWOT

    With the year underway, your business probably has a strategic plan in place for the months ahead. Or maybe you’ve...

    Posts

    Depreciation-related breaks on business real estate:

    Depreciation-related breaks on business real estate: What you need to know when you file your 2018 return Commercial buildings and...

    « 1 … 5 6 7 8 9 10 »

    Copy Link

    Copy

    Thank You

    We'll get back to you shortly

    Back to Homepage
    RRBB White Logo
    Badges

    Quick Links

    • About
    • Blogs
    • News
    • Events
    • Resources
    • Careers
    • Our Team
    • Testimonials
    • Make a Payment
    • Contact Us
    • Privacy Policy

    Services

    • Audit + Assurance
    • Business Tax Planning + Preparation
    • Client Advisory Services
    • Individual Tax Planning + Preparation
    • International Tax Services
    • Mergers + Acquisitions
    • SEC + Public Company Services
    • Valuation + Litigation Support

    Locations

    265 Davidson Avenue, Suite 210

    Somerset, NJ 08873

    p: (908) 231-1000 f: (908) 231-6894

    1030 Salem Road

    Union, NJ 07083

    p: (908) 352-9797 f: (908) 351-4520

    462 Seventh Avenue, 23rd Floor

    New York City, NY 10018

    p: (212) 714-0462 f: (212) 714-0460

    111 Dunnell Road, Suite 102

    Maplewood, NJ 07040

    p: (973) 763-6363 f: (973) 763-4430

    Fred Allen

    "An income tax form is like a laundry list - either way you lose your shirt."

    - Fred Allen

    Albert Einstein

    "The hardest thing in the world to understand is the income tax."

    - Albert Einstein

    Will Rogers

    "The difference between death and taxes is death doesn’t get worse every time Congress meets."

    - Will Rogers

    Copyright © 2024 RRBB, all rights reserved.

    “RRBB,” an independent member of the Crete Professionals Alliance, is the brand name under which Rosenberg Rich Baker Berman, P.A. and RRBB Advisors, LLC (including subsidiary entities) provide professional services. Rosenberg Rich Baker Berman, P.A. and RRBB Advisors, LLC (and its subsidiary entities) practice as an alternative practice structure in accordance with the AICPA Code of Professional Conduct and applicable laws, regulations, and professional standards. Rosenberg Rich Baker Berman, P.A. is a licensed independent CPA firm that provides attest services to its clients, and RRBB Advisors, LLC (and its subsidiary entities) provide tax and business consulting services to their clients. RRBB Advisors, LLC (including subsidiary entities) and Crete Professionals Alliance are not licensed CPA firms. The entities falling under the RRBB brand are independently owned and are not liable for the services provided by any other entity providing the services under the RRBB brand. Our use of the terms “our firm” and “we” and “us” and terms of similar import, denote the alternative practice structure conducted by Rosenberg Rich Baker Berman, P.A. and RRBB Advisors, LLC.

    Any U.S. federal tax advice contained on this website is not intended or written to be, and cannot be used by any taxpayer, for the purpose of (i) avoiding U.S. tax penalties or (ii) promoting, marketing, or recommending to another party any transaction or matter addressed herein. The information provided here is broad in nature and is not meant to address the specific circumstances of any one person or organization. Despite our best efforts to deliver accurate and timely information, there can be no assurance that it is accurate as of the date of receipt or that it will remain accurate going forward. Without seeking the proper professional advice and conducting a full analysis of the specific circumstances, no one should act on this information.

    RRBB is a member of PrimeGlobal, a global association of Independent firms.