CPA Murray UT 84107
Rescissions Act of 2025 (HR 4) – A rescission bill cancels funding previously approved by Congress upon request by the president. Congress has 45 continuous legislative days to enact or reject the proposal, during which time the funds may be temporarily withheld. Introduced by Rep. Steve Scalise (R-LA) on June […]
Based on statistics from the World Bank, the United States government spent 3.59 percent of its 2022 gross domestic product on research and development. While private businesses spend on their own research and development costs, it’s important for businesses to treat these expenditures appropriately. When it comes to research and […]
One Big Beautiful Bill Act (HR 1) – Introduced by Rep. Jody Arrington (R-TX) on May 20, this bill passed in the House on May 22, the Senate with changes on July 1, and once again in the House on July 3. Signed into law on July 4, this bill […]
With the global digital payments market expected to see north of $20 trillion in transaction value in 2025, according to Statista, business-to-business transactions are undoubtedly going to see some action. Debit notes are one tool that businesses have to record their transactions and corresponding payments. Understanding what debit notes are […]
When it comes to businesses and asset depreciation, there are many types available, such as straight-line, units of production, double declining balance, and sum of years digits. While these aren’t the only ones, they are available via the IRS code and help businesses reduce their taxable income. However, under certain […]
Part 1 The One Big Beautiful Bill Act (OBBBA) passed the House on July 3 and was signed into law by President Trump. This comprehensive legislation makes several expiring tax cuts from the 2017 Tax Cuts and Jobs Act permanent while at the same time introducing several temporary provisions through […]
Right smack dab in the middle of summer might seem like the worst time to think about your taxes, but it’s actually the perfect time. Here’s what taking a pause in July allows you to do. Get Organized Do you have all your receipts? Are your records up to date? […]
Part 2 In this second part of our two-part series on the One Big Beautiful Bill Act (OBBBA), we examine the legislation’s impact on businesses, trusts, and estates. In addition, we will look at its overall economic impact. Estate Tax Changes The federal estate tax exemption receives a significant boost […]
HALT Fentanyl Act (S 331) – On Jan. 30, Sen. Bill Cassidy (R-LA) introduced this bipartisan act in order to close a loophole that allowed clandestine drug manufacturers to evade illegal drug laws by altering the chemical composition of fentanyl. The legislation permanently classifies all versions of fentanyl as a […]
Working capital is the difference between a business’ current assets and liabilities. Negative working capital can happen when a business’ current assets are below its current liabilities. Therefore, working Capital = Accounts Receivable + Inventory – Accounts Payable. It’s a way to measure a company’s ability to meet short-term liabilities, […]