Dannible & McKee, LLP
The Tax Cuts and Jobs Act (TCJA) brought significant changes to income taxes with its amendments to the Internal Revenue Code. Among these changes were reliefs to small business taxpayers in order to simplify certain restrictions previously imposed on them. Effective for the tax years beginning back in 2018 and ending in 2025, more small businesses have the ability to utilize the overall cash basis method of accounting for income tax purposes.

The median fraud loss among manufacturers was almost double the median loss for all industries, according to the 2018 Report to the Nations published by the Association of Certified Fraud Examiners (ACFE). Internal controls are a company’s first line of defense in preventing and detecting fraudulent activity. This article identifies five questions proactive managers consider when evaluating the strength of their company’s internal controls.

If you run a business from your home or are otherwise self-employed and use part of your home for business purposes, the home office deduction may provide a valuable tax break.

About Dannible & McKee, LLP

Dannible & McKee, LLP has been providing audit, tax, accounting and financial management consulting services to clients nationwide since 1978. The hallmark of our firm is our technical expertise, depth of experience and our approach to delivering quality service to our clients. W e understand the unique needs of manufacturers, and our team of manufacturing specialists are well-versed and experienced in manufacturing concerns, and able to address your needs. We are involved in many organizations that serve manufacturers including the Manufacturers Association of Central New York (MACNY) and the Technology Development Organization. We are also Upstate New York’s first-ever affiliate of GGI, the prestigious international organization of professional firms.

To learn more about Dannible & McKee, visit us at: www.dmcpas.com