News by MHCS
The Inflation Reduction Act’s Impact on Sections 45L and 179d
Sep 21, 2022
The Inflation Reduction Act of 2022 (the Act) contains $433 billion in new spending over the next decade in areas such as: $369 billion for energy security, $64 billion for the extension of the Affo...
Learn MoreBehavioral Red Flags for Internal Fraud
Sep 19, 2022
Fraud can be uncovered in many different ways: a tip, management review, internal or external audit, document examination, account reconciliation or even by accident. In 65% of cases, however, someone...
Learn MoreConfused About Capitalization and Safe Harbor
Sep 15, 2022
Whenever you spend money on your business, the expense is either deducted on your federal tax return in the year it is incurred or depreciated over time. Here's how to tell what to do. Deductible Cos...
Learn MoreTHE PRODUCTION LINE - September 2022
Sep 15, 2022
The latest edition of The Production Line is here! This month, we take a look at revenue management and boosting revenue for manufacturing companies, record keeping rules, and integrating mobility. Cl...
Learn MoreExempt vs. Nonexempt: Where the Dividing Line Is
Sep 12, 2022
Are you sure you know whether your employees are considered exempt or nonexempt? It's important to classify workers correctly because their status determines their eligibility to receive overtime pay....
Learn MoreGetting a Handle on Financial Fraud
Sep 08, 2022
During periods of economic stress, both civil and criminal incidents of fraud tend to rise as businesses face increased financial pressures. Fraud covers a wide range of activities from intentional ...
Learn MoreHow to Avoid Undercapitalization
Sep 06, 2022
Undercapitalization is never good for business. It occurs when a business holds insufficient funding, or capital, to support its operations. This serious concern can lead to a major financial crisis f...
Learn MoreS Corporation Requirements, Responsibilities, and Considerations
Aug 31, 2022
S corporations are entities that can pass corporate income, losses, deductions and credits through to shareholders for federal tax purposes. Shareholders report the flow-through of income and losses o...
Learn MoreKnow the Basics of Business Valuations
Aug 29, 2022
A business valuation can serve any of several purposes, but the goal is always the same: to find out the value of your business in dollars and cents. Armed with this knowledge, you'll never be caught ...
Learn MoreInflation Reduction Act of 2022
Aug 25, 2022
On August 16th, President Joe Biden signed the Inflation Reduction Act of 2022 (the “Act”) into law. The Act provides investment in clean energy, promotes reduction in carbon emissions, and updates or...
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