Change in the Menu: Your Meal Expenses Under Today’s Tax Code

by Breoncpa | Jul 11, 2019 | Accounting

While the Mad Men days of three-martini lunches are a quaint relic of the past, businesses still rely on wining and dining clients as a means of sealing deals. But, if you want to entertain a longtime client or a new prospect, you have to understand that the rules...

Here Are the Business Expenses You Cannot Write Off on Your Taxes

by Breoncpa | Jul 9, 2019 | Accounting

If you own a business, you’re always looking for ways to lower your tax payments. And while the U.S. Tax Code is a helpful reference for allowable expenses, you might be surprised to find out it does not specifically list many of the business deductions owners take...

Appeals Case Shows How Internal Investigations Can Shield Employers from Liability

by Breoncpa | Jun 27, 2019 | Accounting

At Breon & Associates, we often try to educate business owners about the importance of thorough internal investigations of deviant behavior within their organization. Not only can such steps root out bad behavior that violates company policy and undermines morale...

Employers Must Be Wary of the Harsh Payroll Tax Penalty

by Breoncpa | Jun 25, 2019 | Accounting

The Federal Income Contributions Act imposes the responsibility on employers to deduct amounts from their employees’ paychecks to cover Social Security and Medicare tax. The organization must also match these employee contributions. Known collectively as FICA, these...

Can Your Company Get a Larger Tax Deduction for Business Miles in 2019?

by Breoncpa | Apr 9, 2019 | Accounting

If your company operates a vehicle, such as a car, SUV or delivery truck for business purposes, you are eligible for certain tax considerations, including a deduction for the miles traveled. (Sorry, but vehicles used as equipment and vehicles for hire are not...

Are You Up-to-Speed with Important Accounting Changes for Private Companies in 2019?

by Breoncpa | Apr 4, 2019 | Accounting

Sweeping rule changes for private companies that follow U.S. Generally Accepted Accounting Principles (GAAP) have many CFOs and controllers under the gun. If your company is struggling to implement the Accounting Standards Update (ASU) No. 2014-09 – Revenue for...