How Financial Readiness and Sell-Side Diligence Improve Process Efficiency and Deal Certainty For owners looking back on a sale, buy-side financial due diligence is often remembered less for any single accounting issue and more for how it felt: the pace, the pressure, the credibility challenges, and the moments where the process either reinforced confidence or … Read more
Client Situation An investor in a privately held energy sector company sought clarity regarding the organization’s worsening financial position. The company—engaged in oil and gas exploration and production—was experiencing significant and unexplained cash flow shortages. Engagement Objective The investor requested an independent forensic review to understand the true financial condition of the business and the … Read more
Sell-side financial due diligence, often called a sell-side Quality of Earnings (QoE) review, helps privately owned businesses prepare for a sale by giving buyers clearer and more reliable financial information. For companies that have never had an audit, this review reduces uncertainty about revenue, expenses, and working capital. It also prepares owners for the level … Read more
H2R CPA Consulting Manager, Mike Clark, CPA, recently wrote an article published in the Nov/Dec 2025 issue of Breaking Ground magazine, a publication of the Master Builders Association of Western Pennsylvania. The article, “Cut Costs, Gain Expertise: Why construction companies are turning to outsourced accounting” can be found on page 43 of the issue. How can you … Read more
The IRS recently issued Notice 2025-62 offering important guidance and penalty relief for businesses and employers navigating new information reporting requirements introduced by the One, Big, Beautiful Bill Act (OBBBA). These changes affect how tips and overtime compensation are reported for tax year 2025. Here’s what you need to know: Background: What Changed Under OBBBA? … Read more
In today’s fast-paced and data-driven business environment, staying financially agile isn’t just a competitive advantage, it’s a necessity. Yet, many small and mid-sized businesses fall into the trap of only reviewing their financials at year-end. While year-end financial statements are important for tax filing and regulatory compliance, they offer only a snapshot of the past. … Read more
Service Spotlight: Outsourced Accounting Services One of the most powerful features of QuickBooks® Online is its ability to connect to your bank and credit card accounts, enabling automatic transaction downloads and better financial management. Linking accounts is key to streamlining your business’s accounting processes. Once completed, transactions will be input into QuickBooks® in real-time, giving … Read more
In the midst of tax filing season, many business owners find that preparing information for tax returns is frustrating and time consuming. Cleaning up the prior year’s transactions is not an enjoyable or efficient task while trying to run a successful business. Support for prior transactions may be hard to find, and the details may … Read more
The new annual reporting requirements under Pennsylvania Act 122 of 2022 introduce some significant changes starting in 2025. Here’s the breakdown: Who Needs to File? Domestic business corporations Domestic nonprofit corporations Domestic limited liability (general) partnerships Domestic electing partnerships that are not limited partnerships Domestic limited partnerships (including limited liability limited partnerships) Domestic limited liability … Read more
In a surprising turn of events, a federal appeals court has issued another ruling that suspends a requirement for businesses to file reports about their beneficial ownership information (BOI). This came just days after the same court issued a ruling that resulted in the federal government announcing that millions of small businesses did have to … Read more