Business Consulting and Planning

Understanding Your Classification as a Real Estate Investor or a Dealer is Crucial in a 1031 Exchange by John G. Ebenger, CPA

Posted on July 19, 2024 by John Ebenger

There are many different types of participants in the real estate market and an equally diverse set of rules for how each may treat profits and losses from property sales. For example, real estate investors may claim the tax deferral benefits of a 1031 exchange, but these benefits and rules generally do not apply to […]

4 Mistakes to Avoid with 1031 Exchanges of Real Estate by Yovanny Hernandez, CPA

Posted on July 11, 2024 by Yovanny Hernandez

For more than a century, Section 1031 of the U.S. tax code has carved out a unique opportunity for qualifying individuals and businesses to defer federal capital gains tax on the sale of highly appreciated real estate held for investment or business use when they reinvest the sales proceeds into a similar, like-kind property. These […]

Is Cash or Accrual Accounting Best for My Business Structure? by Shanna Shim, CPA

Posted on July 10, 2024 by Shanna Shim

Small and midsize businesses generally have two options for maintaining their financial books and records: the cash and accrual methods of accounting. While each approach offers businesses unique benefits at different stages of their life cycles, business owners must recognize when they should transition from one method of financial accounting to the other. The cash […]

Florida Revives Sales-Tax Holiday by Karen A. Lake, CPA

Posted on June 27, 2024 by Karen Lake

During July 2024, consumers in Florida can purchase recreation equipment, outdoor items and admissions to entertainment and cultural events within the state without paying state sales tax. The state’s legislature passed the annual Freedom Month Sales-Tax Holiday to help make it more affordable for families to enjoy all that the Sunshine State has to offer […]

IRS Sets 2025 HSA Contribution Limits by Brendan Kurpis, CPA

Posted on June 11, 2024 by Brendan Kurpis

The IRS has released the inflation-adjusted limits that qualifying taxpayers may contribute to health savings accounts (HSAs) in 2025. These triple-tax-advantaged accounts can help participants afford the rising costs of healthcare today and save for even higher expenses during retirement. Background HSAs are powerful healthcare savings tools that provide participants with the following tax benefits: […]

Podcast – BPB Knows Pass-Through Entity Tax

Posted on June 06, 2024 by Maxwell Jewell

In this episode Associate Director of Tax Services Max Jewell shares opportunities and challenges related to the pass-through entity tax and states where it can make a big tax difference.

Ransomware Attacks Continue to Rise Among Small and Mid-Size Businesses by Brandon Bowers

Posted on June 04, 2024 by Brandon Bowers

According to the latest industry reports, ransomware attacks surged in 2023, accounting for nearly one-quarter of all data breaches and costing businesses worldwide an average of $5.13 million.[1] More alarming still, businesses’ security teams detected only 33 percent of all ransomware breaches, whereas 27 percent were disclosed by the attackers, and 40 percent were uncovered […]

Updates on Deductions for Business Meals and Entertainment by Claribel Velazquez, CPA

Posted on May 24, 2024 by Claribel Velazquez

Running a business can be expensive, and it can be confusing to know when companies can write off certain expenses, especially with a frequently changing tax code. One particularly puzzling area of the law concerns the rules for deducting the costs of business-related meals and entertainment, which have evolved over the past few years. In […]

Podcast – BPB Knows Tax Implications for S Corps in Bankruptcy

Posted on March 21, 2024 by Richard Cabrera

In this episode Director of Tax Services Richard Cabrera explains why it’s important for S Corps to consider the tax implications before entertaining bankruptcy proceedings.

4 Important Considerations When Hiring Professional Recruiters by Mari Luque-Hanchett

Posted on March 14, 2024

It can be exceedingly difficult for companies to fill jobs that require specialized skills, such as finance and accounting, especially in a tight labor market with low unemployment. With so many job vacancies available to a limited number of qualified candidates, businesses must use all the resources available to stand out from the pack, build […]

Category: Business Consulting and Planning