In this episode, Associate Director of Tax Services Luke Lucas, CPA, shares often overlooked state and local tax issues, deductions and credits.
The Trump administration’s calls to reduce the size of the federal government and make the federal workforce more efficient[1] are expected to have a significant impact on the work of the Internal Revenue Service (IRS) and potentially end the agency’s 10-year plan to expand its tax compliance enforcement activities. However, savvy taxpayers should not assume […]
The 2017 tax cuts introduced a temporary bonus depreciation provision that allowed businesses to immediately write off 100 percent of their costs for new and used qualifying property they placed into service between Sept. 28, 2017, and Dec. 31, 2022. The rate of this first-year depreciation deduction has decreased by 20 percent each subsequent year […]
In this episode Director of Forensic and Advisory Services Joel Glick, CPA/CFF, CFE, CGMA, explains the concepts behind piercing the corporate veil and how in partnership disputes and damages claims.
In this episode Associate Director of Tax Services Max Jewell, CPA, MST, shares workaround strategies for navigating the PTET limits.
Buyers in the market for a yacht often hear from friends and anxious salespersons that they can claim federal income tax deductions when using a yacht for business purposes, such as entertaining clients or renting it out for private charters to generate income. This is often coupled with the promise of large depreciation write-offs against […]
In this episode, Associate Director of Forensic and Advisory Services Richard Fechter shares details about Florida’s new financial reporting regulations for condo associations and HOAs.
The IRS has issued tax relief to individuals and businesses affected by the devastating wildfires in southern California. Taxpayers who live in or own a business in a federally declared disaster area automatically receive an extension to file various federal tax returns and make tax-associated payments originally due between Jan. 7, 2025, and Oct. 15, […]
One of the most vexing problems encountered by growing companies is the identification and management of “underminers” who lurk silently in the shadows, sowing discontent and dissatisfaction that creates a negative drag on the business culture. Sometimes referred to as “bad apples” or “negative nellies,” these individuals engender pessimism, anxiety and insecurity among teammates in […]
The passage of the SECURE Act 2.0 in 2022 introduced sweeping changes to help enhance taxpayers’ retirement savings opportunities and improve the costs and managerial headaches employers face administering employee benefits plans, including 401(k)s, 403(b) and 457(b) plans. Since that time, employers of all sizes have gained expanded tax credits for establishing employee retirement savings […]