News by MHCS

S 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...

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Know 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 ...

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Inflation 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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Trying to Manage Seasonal Construction Budgets

Aug 23, 2022

Construction is a profitable industry, but there is one major challenge. If you're in an area that's blanketed with cold and snow in the winter, you may have significant periods of downtime for your b...

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The Building Blocks - August 2022

Aug 23, 2022

The newest edition of The Building Blocks is here! In this edition, we highlight the identification, prevention, and maintenance of fraud in your construction and real estate company. We also discuss ...

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12 Things to Do If You Suspect Internal Fraud

Aug 18, 2022

Discovering that you are the victim of an internal fraud is a harrowing experience, particularly when the perpetrator is someone you’ve trusted. The feeling of betrayal is strong. Your instincts tell ...

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THE PRODUCTION LINE - August 2022

Aug 18, 2022

The latest edition of The Production Line is here! In this edition we highlight undercapitalization, how to avoid it, and remedies for manufacturers that are undercapitalized, Click here for the compl...

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Budgeting Success for the Manufacturing Industry

Aug 16, 2022

When a manufacturing company doesn't have a clear idea of its annual budget, it runs the risk of spending more money than it earns in a year. Even if production has been running smoothly for years, on...

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Accounting Method Changes for Small Business Taxpayers

Aug 15, 2022

Recently, the IRS and Treasury released two revenue procedures on accounting method changes for small business taxpayers. Rev. Procs. 2022-9 and 2022-14 enable small business taxpayers, not a tax shel...

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Are Your Internal Controls Weak?

Aug 11, 2022

According to a spokesperson from the Risk Unit of Marquette University of Milwaukee, Wisconsin, "Establishing effective internal controls can help a department operate more efficiently and effectively...

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