Ask The Experts Segment On April 7th, 2022, Joel Gratz, Managing Partner here at Christianson, and Dustin Kotrba, Partner, joined Bill Dean on KWLM during the “Ask the Experts” segment. This month, Joel, Dustin, and Bill took a minute to chat a little about data analytics. Listen Here!
Accounting and Auditing
Tips to Make Succession Planning a Success
What is succession planning? Succession planning is a process that involves careful replacement planning and strategy to pass on important leadership roles and responsibilities. Businesses often perform this succession planning function for their key management personnel. It is used to identify and develop new potential leaders who can fill those “big shoes” when the leadership… Continue Reading
Eligible Businesses: Claim The Employee Retention Tax Credit
The Employee Retention Tax Credit (ERTC) is a valuable tax break that was extended and modified by the American Rescue Plan Act (ARPA), enacted in March of 2021. Here’s a rundown of the rules. Background Back in March of 2020, Congress originally enacted the ERTC in the CARES Act to encourage employers to hire and… Continue Reading
There’s Currently a “Stepped-Up Basis” If You Inherit Property — But Will It Last??
If you’re planning your estate, or you’ve recently inherited assets, you may be unsure of the “cost” (or “basis”) for tax purposes. The current rules Under the current fair market value basis rules (also known as the “step-up and step-down” rules), an heir receives a basis in inherited property equal to its date-of-death value. So,… Continue Reading
IRS Audits May Be Increasing, So Be Prepared
The IRS just released its audit statistics for the 2020 fiscal year and fewer taxpayers had their returns examined as compared with prior years. But even though a small percentage of returns are being chosen for audit these days, that will be little consolation if yours is one of them. Latest statistics Overall, just 0.5%… Continue Reading
Single Audit Considerations: preparing for your post-pandemic federal compliance audit
Many organizations received significant funding under the Coronavirus Aid, Relief, and Economic Security (CARES) Act, either directly from the U.S. Department of Treasury or through another entity, such as their state or county. In either case, the funds originate from the federal government, which means there are certain requirements that recipients must follow. Entities that… Continue Reading
