Archives for Audits

Pierce Firm Asset Protection

4 Asset Protection Strategies

Asset protection (sometimes also referred to as debtor-creditor law) is a set of legal techniques and a body of statutory and common law dealing with protecting assets of individuals and business entities from civil money judgments. The goal of asset protection planning is to insulate assets from claims of creditors without perjury or tax evasion.

 Creditor and litigant claims have the potential to put a big dent in your next worth. To help protect your assets from such threats, we are providing four asset-protection strategies here.
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Bonuses deduction

Can I pay bonuses in 2018 but deduct them in 2017?

If you are a business owner, you may be wondering if you can pay bonuses in 2018, but deduct them in 2017.  Is it even possible?

The answer is Yes, but only if:

  1. Your company uses  accrual-basis accounting.
  2. The bonuses were earned in 2017 and are paid by march 15.
  3. Bonus liability must be fixed by the end of 2017.

This process can be complicated, which is why you should talk to a experience CPA.

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Deduction for Production

Looking for ways to minimize your company’s 2017 tax bill? Consider the domestic production activities deduction (DPAD). Often referred to as “manufacturer’s deduction,” the DPAD can also be claimed by many construction engineering, oil and mining, software and other business.

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The American Stock Exchange Origins

Lower Manhattan, 1920. A rowdy crowd congregates where Broad Street meets Morris. One well-dressed gentlemen shouts orders to an office worker three stores above. A sketchier character talks up a Colorado gold mine to anyone who will listen. Some jokester hawks shares in cocker spaniel puppy – 10 cents apierce – while an apple-seller haggles with hungry customers.

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Preventing fraud in your business

Preventing Fraud in Your Business

Employee fraud is a significant problem faced by organizations of all sizes, types and industries. While we would all like to believe our employees are loyal and working for the benefit of the organization, unfortunately there are still many reasons why some employees may commit fraud.

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