Accounting, News & Events

Macpage LLC joins firm as Wipfli expands presence into New England

August 1, 2018  —Macpage LLC announced today they have joined Wipfli, one of the top 20 accounting and consulting firms in the United States, effective August 1.   As part of this combination, nearly 100 Macpage professionals will join more than 2,000 professionals at Wipfli. The firm’s two full-service offices in South Portland and Augusta,… Continue reading Macpage LLC joins firm as Wipfli expands presence into New England

recording business transactions
Accounting, News & Events

How should I record my business transactions?

A good record keeping system includes a summary of your business transactions. Business transactions are ordinarily summarized in books called journals and ledgers. You can buy them at your local stationery or office supply store. A journal is a book where you record each business transaction shown on your supporting documents. You may have to keep separate journals for transactions… Continue reading How should I record my business transactions?

Recording business transactions
Accounting, News & Events

What kind of records should I keep?

You may choose any recordkeeping system suited to your business that clearly shows your income and expenses. The business you are in affects the type of records you need to keep for federal tax purposes. Your recordkeeping system should include a summary of your business transactions. This summary is ordinarily made in your business books… Continue reading What kind of records should I keep?

Business transaction ledger
Accounting, News & Events

Why should I keep records?

Everyone in business must keep records. Keeping good records is very important to your business. Good records will help you do the following: Monitor the progress of your business Prepare your financial statements Identify sources of your income Keep track of your deductible expenses Keep track of your basis in property Prepare your tax returns Support… Continue reading Why should I keep records?

tax reform - changes to tax planning, preparation and filing
News & Events, Tax

State Legislation Responds to Federal Tax Reform

Maine has not yet enacted legislation in response to federal tax reform, for more information visit our Maine Tax Conformity Article. Massachusetts has not enacted legislation in response to the federal Tax Cuts and Jobs Act (P.L. 115-97, 12/22/2017), but has issued guidance on the state implications of the federal deemed repatriation rules and taxpayers'… Continue reading State Legislation Responds to Federal Tax Reform