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IRS Issues Procedural Guidance on Section 174 Accounting Method Changes for Taxpayers with Short Taxable Years

On August 29, 2024, the IRS issued Rev. Proc. 2024-34, which provides modified procedural guidance...

Determining a Partner’s Interest in an Investment Fund Partnership When an Allocation Lacks Substantial Economic Effect

Tax Strategist Insight Many investment fund partnership agreements include income and loss...

Component Audits: Streamlining Financial Reporting for Manufacturers

As an experienced CPA focusing on the manufacturing industry, I've seen firsthand how the...

Now what? Assessing the likely tax impacts of the 2024 election

President-Elect Donald Trump will return to the White House in 2025 — a year that already was...

How the U.S. election changes the outlook for taxes

How the U.S. election changes the outlook for taxes The outcome of the November 5 election is...

How much can you contribute to your retirement plan in 2025? The IRS just revealed the answer

The IRS has issued its 2025 inflation-adjusted contribution amounts for retirement plans in Notice...

How will the 2025 inflation adjustment numbers affect your year-end tax planning?

The IRS has issued its 2025 inflation adjustment numbers for more than 60 tax provisions in Revenue...

Considerations For Clear Communication During Open Enrollment

In today’s labor market, benefits can be a valuable tool for employers to retain talent. Employers...

Audit Firm Business Models – What Audit Committees May Want to Know

As the audit profession continues to evolve to satisfy changing business needs while prioritizing...

Top Three Manufacturing Trends for 2024

Earlier this year, BDO released our 2024 Manufacturing CFO Outlook Survey, which identified key...