Which employees are truly your MVPs?
Posted October 23, 2018 / No comments
Every year, when baseball season finally ends, a most valuable player (MVP) is named in each league. Not everyone agrees on the choice; in fact, it’s something fans love to argue about. But eventually the two players receive their awards and their names go into the record books. Can you name your organization’s MVPs? (You
Read MoreSelling your business? Defer — and possibly reduce — tax with an installment sale
Posted October 22, 2018 / No comments
You’ve spent years building your company and now are ready to move on to something else, whether launching a new business, taking advantage of another career opportunity or retiring. Whatever your plans, you want to get the return from your business that you’ve earned from all of the time and money you’ve put into it.
Read MoreTenancy-in-common: A versatile estate planning tool
Posted October 19, 2018 / No comments
If you hold significant real estate investments, tenancy-in-common (TIC) ownership can be a powerful, versatile estate planning tool. A TIC interest is an undivided fractional interest in property. The property isn’t split into separate parcels. Rather, each TIC owner has the right to use and enjoy the entire property. TIC in action An individual TIC
Read MoreConsider All the Tax Consequences Before Making Gifts to Loved Ones
Posted October 19, 2018 / No comments
Many people choose to pass assets to the next generation during life, whether to reduce the size of their taxable estate, to help out family members or simply to see their loved ones enjoy the gifts. If you’re considering lifetime gifts, be aware that which assets you give can produce substantially different tax consequences. Multiple
Read MoreTax-Free Fringe Benefits Help Small Businesses and Their Employees
Posted October 9, 2018 / No comments
In today’s tightening job market, to attract and retain the best employees, small businesses need to offer not only competitive pay, but also appealing fringe benefits. Benefits that are tax-free are especially attractive to employees. Let’s take a quick look at some popular options. Insurance Businesses can provide their employees with various types of insurance
Read MoreIRS Issues New TCJA Guidance for Businesses
Posted October 1, 2018 / No comments
The Tax Cuts and Jobs Act (TCJA) created a new general business tax credit for certain businesses that grant their qualifying employees paid family and medical leave in 2018 and 2019. The IRS now has released Notice 2018-71, which addresses several related issues, including eligibility, types of leave covered and calculation of the credit amount.
Read More2018 Q4 Tax Calendar: Key Deadlines for Businesses and Other Employers
Posted September 12, 2018 / No comments
Here are some of the key tax-related deadlines affecting businesses and other employers during the fourth quarter of 2018. Keep in mind that this list isn’t all-inclusive, so there may be additional deadlines that apply to you. Contact us to ensure you’re meeting all applicable deadlines and to learn more about the filing requirements. October
Read MoreIRS Issues Guidance on New Bonus Depreciation Rules
Posted August 24, 2018 / No comments
The Tax Cuts and Jobs Act (TCJA) significantly expands bonus depreciation under Section 168(k) of the Internal Revenue Code for both regular tax and alternative minimum tax (AMT) purposes. Now, the IRS has released proposed regulations that clarify the requirements that businesses must satisfy to claim bonus depreciation deductions. Although the regs are only proposed
Read MoreIRS Issues Proposed Regulations on the Pass-Through Business Income Deduction
Posted August 22, 2018 / No comments
The IRS recently released highly anticipated regulations addressing the deduction for up to 20% of qualified business income (QBI) from pass-through entities. The deduction was a major component of the Tax Cuts and Jobs Act, which became law late last year. It has also been referred to as the pass-through deduction, the QBI deduction or
Read MoreProvide for Family Members with Special Needs Using an SNT
Posted August 21, 2018 / No comments
If you have a child or other family member with a disabling condition that requires long-term care or prevents (or will prevent) him or her from being able to support him- or herself, consider establishing a special needs trust (SNT). Also known as a supplemental needs trust, an SNT allows you to enhance a family
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