Sciarabba Walker Blog
The information in these blog posts is provided for general informational purposes only and is not intended to substitute for accounting, tax, or financial advice from a professional accountant. While we use reasonable efforts to furnish accurate and up-to-date information, we do not warrant that any information contained in or made available through this blog is current or error free. No part of this communication is intended to be used for the purpose of avoiding penalties under U.S. federal tax law.
The Audit Wrap-Up Process
Once the audit fieldwork has been completed, the auditors move into wrapping up the audit process and issuing the final reports. Here are some expectations and tips to improve the organization’s audit experience. At the end of the audit week, it may be best to sit...
Overview of Section 382 Limitation on Net Operating Loss Carryforwards
Section 382 of the Tax Code is applicable to a loss corporation, defined as a corporation that has accumulated net operating losses. Many start-up companies in high-tech industries incur substantial research and development expenses and remain unprofitable for...
Sciarabba Walker & Co., LLP Wins ClearlyRated’s 2024 Best of Accounting Award
The accounting and business consulting firm Sciarabba Walker & Co., LLP has received ClearlyRated’s Best of Accounting® Award for 2024, marking the second consecutive year the firm has achieved this recognition. ClearlyRated is an industry leader in client...
How to Prepare for an Financial Statement Audit
Undergoing a financial statement audit for the first time can be a daunting experience for any company. However, with careful preparation and a clear understanding of the process, you can navigate through this crucial milestone with confidence. In this blog, we'll...
2023 Business Year-End Tax Planning
2023 has been a quiet year for tax legislation. To help you decide what works best for you and your business, we have compiled a list of tax strategies based on current tax rules that may help you save tax dollars if you act before the end of the year. Qualified...
2023 Individual Year-End Tax Planning
2023 is ending, which means tax season is right around the corner, but there is still time to take advantage of tax-saving ideas to lower your 2023 tax bill. Sciarabba Walker wants to help you prepare for tax filing and save you some tax dollars by sharing some...
Capitalization and Amortization of Research & Experimental Expenditures under New Sec. 174
The Tax Cuts and Jobs Act (TCJA) passed in December of 2017 made a significant change to the treatment of specified research and experimental expenditures (SRE) covered by Sec. 174. Effective for tax years beginning after December 31, 2021, Section 13206 of the TCJA...
Audit, Review, Comp: What’s Right for Me?
If your organization needs audited, reviewed, or compiled financial statements, Sciarabba Walker can help. Here is a summary of these services, what each entail, and some relevant factors in deciding which fits your organization’s needs. An audit provides the highest...
How to Pick a New Practice Associate or Partner
Sooner or later, a growing medical practice will need to take on another associate or partner to support that growth and keep the practice profitable long term. The risk, of course, is that you pick the wrong person and end up throwing a wrench into the works. Here...
Keeping Up With Cybersecurity is Essential to HIPAA Compliance
Over the past few years, as a result of the COVID-19 pandemic as well as other developments in the medical arena, practices have increasingly relied on technology. This includes the much wider use of telehealth as well as electronic health records (EHR), online...