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Professionals on the Move – Jan. 2024

CPA Practice

PKF Mueller Joins Cherry Bekaert to Expand Chicago Market Reach Cherry Bekaery, an assurance, tax and advisory firm, recently completed an acquisition transaction with PKF Mueller , a full-service certified public accounting and business advisory firm located in the metropolitan Chicago area.

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IRS Issues Favorable QSBS Tax Ruling for Businesses

Withum

The taxpayer in PLR 202221006 (March 3, 2022) is a pharmaceutical distributor that engages in the retail sale of a limited number of drugs. This second point is particularly helpful to selling shareholders who want clarity on whether their business is a QTB so they can calculate how much tax will be due on their sale of stock.

Tax 126
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How Inflation and Supply Chain Disruptions Can Increase Your Business’ Tax Bill

Withum

Unfortunately, a deteriorated supply chain and increased inflation most likely will increase the tax bill for businesses that use the LIFO method of accounting. Utilizing LIFO when costs are rising due to inflation is generally advantageous for income tax purposes because sales prices are offset by higher inflated purchase costs.

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Relief Comes in the Form of R&D Tax Credits for Manufacturing Companies

KROST

This is one of the article in the KROST Quarterly Manufacturing Issue , titled “Relief Comes in the Form of R&D Tax Credits for Manufacturing Companies” by Guest Contributor, Michael Maroney. These companies include pharmaceutical, clothing, technology, cosmetics, textile, and others. Source: 1 [link].

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BDO USA Continues on Sustainable Growth Path; Reports Revenue Increase of Over 13%

CPA Practice

Within the firm, every practice increased revenue, with advisory, assurance and tax experiencing increases of 12.1%, 13.4% BDO also expanded its NetSuite capabilities with AdaptaLogix, LLC , an Ohio-based IT services and consulting firm for the pharmaceutical industry. for the 12-month period ending April 30, 2023.

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Will Congress Say Bah Humbug To Small Businesses?

Withum

Small business owners have been suffering in recent years with various federal tax laws impeding their ability to operate and grow. Congressional leaders went home this week for winter recess so there is no way for a tax extender bill to be passed in 2023, but there remains a glimmer of hope for action in early 2024. Ensuring the U.S.

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Professionals on the Move – April 2023

CPA Practice

Flowers Joins CohnReznick as ERP Principal CohnReznick LLP, one of the leading advisory, assurance, and tax firms in the United States, today announced that Shawn Flowers has joined the firm as a Principal in its Technology+ practice. “We congratulate them on their new roles and look forward to their continued success.”