Blog - LLB CPA

April 26, 2021 By LLBCPA

How the CARES Act Changed Net Operating Losses for 2020

Among the raft of changes ushered in with the CARES Act is an overhaul to net operating losses that can impact your 2020 tax obligations. Overall, the changes were designed to increase the amount of liquidity available to businesses to help them survive the pandemic, with a special eye toward helping small business payroll obligations. This means that your business may be able to enjoy a wide range of unexpected benefits when you file this year. Find out how these changes can impact your 2020 taxes and if you stand to gain from them.

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February 20, 2021 By Larry L. Bertsch, CPA and Associates

7 New Business Tax Obligations and Deductions For 2020

The year 2020 packed quite a wallop for business owners around the country and the world. Not wanting to lay off trusted employees, many businesses struggled to keep up with payroll, many were forced to close their doors during quarantine, and sadly, some were forced to close their doors permanently.

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December 24, 2020 By Larry L. Bertsch, CPA and Associates

8 Ways the Pandemic Changed Your 2020 Taxes

Who could have imagined a year like 2020? It feels like the entire world has been turned on its head. Among those lucky enough to still have jobs, many are now remote teleworking, and who knows if any of those positions will ever be office-based again. This has both employers and employees wondering just what the future holds.

The COVID-19 pandemic also brings up some thorny tax questions as we move into tax season. Both employers and employees need to understand the ramifications of this unusual year. Since remote work allows employees to maintain a home office from basically anywhere with a computer, phone, and internet connection, what happens if the worker changes states? What if they decide to take a remote job from a foreign country?

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October 21, 2020 By Larry L. Bertsch, CPA and Associates

How Can I Detect Fraud or Embezzlement in My Business?

One of the many responsibilities of a business owner is that of detecting fraud and embezzlement. Most cases of theft on this level are carried out by an employee or a trusted business insider, such as an accountant. The ripple effects of a major theft incident can create serious complications that can linger on for many years, and in some extreme cases, it can even cause a business to completely shut down. Fortunately, there are several methods that business owners and high-level managers alike can utilize to successfully detect fraud and embezzlement before it’s too late.

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September 15, 2020 By Larry L. Bertsch, CPA and Associates

How Forensic Accountants Help the Divorce Process

A divorce can be a stressful experience, especially when it concerns sorting out complicated financial matters. To make the process run as smoothly as possible, divorce lawyers and people seeking a divorce often hire a forensic accountant to help locate hidden assets.

Using a forensic accountant in a divorce can help reveal important information that can facilitate divorce proceedings. The forensic accountant can help achieve complete financial transparency by uncovering hidden assets. They can also provide professional asset and income valuations, determine the correct child support income, and so much more. Read on to find out why you need a forensic accountant during a divorce.

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Small Business Accounting Blog