Comprehensive due diligence is essential when acquiring a business. Financial due diligence, in particular, can be daunting, especially for inexperienced buyers and sellers. However, with the support of financial and accounting professionals who can evaluate past and future financial statements, spot hidden liabilities, uncover management missteps, and ensure earnings accuracy, this task becomes more manageable. Their expertise provides crucial information that shapes deal terms, purchase prices, and validates key financial information related to your investment decision.

With the evolution of cloud computing, many businesses are considering switching from traditional desktop accounting software to cloud-based solutions like QuickBooks Online (QBO). Here's what you need to know to decide if this switch suits you.

ACH fraud occurs when unauthorized transactions are made through the ACH network, which processes large volumes of credit and debit transactions. Fraudsters can exploit vulnerabilities in your payment systems to initiate unauthorized transfers, leading to substantial financial losses.

If you're a college athlete, you can make a massive fortune of up to seven figures using your name, image and likeness (NIL). It all amounts to you creating your own personal brand. This comes after a 2021 ruling by the US Supreme Court and the establishment of National Collegiate Athletic Association (NCAA) rules to govern how athletes can benefit from NIL activities.

Accurate bookkeeping is essential in the complex world of business finance. It is the bedrock of reliable financial reporting, ensuring your company's financial health is accurately represented. At Brinker Simpson, we understand the importance of meticulous bookkeeping and offer comprehensive services to support your business's financial integrity.

As we approach the end of the year, it's essential to be aware of the numerous tax provisions set to expire. These changes could significantly impact your tax planning strategies, making it crucial to stay informed and prepared. At Brinker Simpson & Company, we are dedicated to providing comprehensive tax planning and advisory services to help our clients navigate these changes effectively.

Choosing the right business entity has many implications, including the amount of your tax bill. The most common business structures are sole proprietorships, partnerships, limited liability companies, C corporations and S corporations.

Let’s say you plan to use a C corporation to operate a newly acquired business, or you have an existing C corporation that needs more capital. You should know that the federal tax code treats corporate debt more favorably than corporate equity. So for shareholders of closely held C corporations, it can be a tax-smart move to include in the corporation’s capital structure:

According to the Association of Certified Fraud Examiners (ACFE’s) Occupational Fraud 2024: A Report to the Nations, not-for-profits suffer roughly half the median loss per fraud scheme of for-profit businesses and government entities — $76,000 vs. $150,000. That may sound like good news, except for the fact that most nonprofits are on tight budgets and can’t afford to lose anything. To help keep your nonprofit’s losses at $0, you need to establish and enforce compliance with internal controls that directly address your organization’s risks.