Category: BUSINESS ARTICLES

CPA Firms are critical to business, finance and regulation, often operating at the crucial seam of industry and government. In this short article, we’ll review the basics that everyone should know about CPAs: who we are, how we’re trained, and what we do. Then, we’ll offer a few tips for finding the right CPA firm for your business.

Closely held companies aren’t like other businesses. They have different strengths (such as greater control for managers) as well as different challenges (less liquidity for shareholders). And so, it’s no surprise that it takes a different type of accounting firm to help these corporations – and those who own them – achieve their goals.

Financial statements are like an MRI scan for your business. They look beneath the surface of your company to offer a more in-depth look at its financial position, operations, sustainability, and future outlook.

Like other corporate tax entities, an S-corp offers shareholders the legal and financial protection of limited liability while eliminating double taxation.
When your business is taxed as an S-corp, the IRS allows you to pass corporate income, deductions, losses, and credits through to your shareholders. Because income is passed through the corporation without taxation, S-corps are often called “pass-through” entities.