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...
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...
Learn MoreTrying 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...
Learn MoreThe 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 ...
Learn More12 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 ...
Learn MoreTHE 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...
Learn MoreBudgeting 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...
Learn MoreAccounting 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...
Learn MoreAre 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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