Monthly Archives: November 2015

5 Tax-Free Gifts to Give by Ken Strauss, CPA/PFS, CFP

Posted on November 27, 2015

With the season of giving upon us, individuals should remember that giving money and property can yield significant tax and estate-planning benefits. In fact, there are several gifts you can make anytime throughout the year without incurring federal gift tax. They include the following: An unlimited number of gifts that are less than the annual […]

Don’t Forget Qualified Retirement Plans when Considering a Business Sale or Acquisition by Sean Deviney, CFP

Posted on November 25, 2015 by Richard Berkowitz

Mergers and acquisitions involve an exhaustive amount of legal and financial due diligence before a deal can close. Among the preliminary factors both buyers and sellers should consider during this process are the tax-qualified retirement plans each offers to its employees and the implications a merger or acquisition will have on those plans, their employees […]

Planning Around Uncertain Tax Extenders by Karen A. Lake, CPA

Posted on November 20, 2015 by Karen Lake

As another calendar year draws to a close, taxpayers again face the question of whether or not Congress will extend a package of 52 tax breaks for individuals and businesses that expired at the end of the last year. If the past is any indication of the future, congressional lawmakers will pass some, if not […]

Businesses Face a Mountain of Reporting Requirements in 2016 under the ACA by Adam Cohen, CPA

Posted on November 19, 2015 by Adam Cohen

Time has run out for businesses with more than 100 full-time-equivalent employees (FTEs) to comply with the provisions of the Affordable Care Act (ACA), also referred to as Obamacare. During 2015, these employers were required to provide minimum essential health insurance coverage to 70 percent of their full-time workforces (and dependent children under the age […]

IRS Clarifies Section 199 Guidance for Businesses Involved in Acquisitions and Dispositions of Businesses by Angie Adames, CPA

Posted on November 17, 2015 by Angie Adames

The Section 199 Domestic Production Activity Deduction (DPAD) is a significant tax savings tool for qualifying business that sell, rent, lease or exchange property that is manufactured, produced, grown, or extracted by the taxpayer in whole or in significant part within the United States. The deduction is equal to the lesser of 9 percent of […]

Time for Year-End Tax Planning for Individuals by Jack Winter, CPA

Posted on November 12, 2015 by Jack Winter

With less than 60 days left in year, individual taxpayers should be thinking about and preparing for their tax obligations in 2015. In fact, there is still time for individuals to take action now to reduce their tax liabilities come April 15, 2016. Following are just a few strategies to consider. Accelerate Deductions in 2015 […]

Is your Business Ready for the New Model of Revenue Recognition? by Christopher Cichoski, CPA

Posted on November 09, 2015 by Christopher Cichoski

  In May 2014, the Financial Accounting Standards Board (FASB) and International Accounting Standards Board (IASB) issued new revenue recognition guidance that will affect substantially all businesses, including those in the real estate, construction, software, telecommunication, manufacturing and distribution industries, as well as certain not-for-profit entities. Privately held companies must implement the guidance for annual […]

Key Considerations for Hospitals and Physicians Involved in the Buying and Selling of Medical Practices by Whitney K. Schiffer, CPA

Posted on November 05, 2015 by Whitney Schiffer

Physicians operating in a highly scrutinized and demanding regulatory environment with lower reimbursements are continuing to sell their practices to hospital networks at a rapid rate. In most instances, this consolidation results in a win-win for all parties. Physicians gain steady salaries while losing the administrative headaches of managing a private practice; hospitals receive the […]