Business Owners

Infrastructure Law Repeals Employee Retention Tax Credit for Fourth Quarter 2021 by Andrew Leonard, CPA

Posted on November 22, 2021 by Andrew Leonard

Included in the $1 trillion U.S. Infrastructure Investment and Jobs Act (IIJA) signed into law on Nov. 15, 2021, is an early termination of the employee retention tax credit (ERTC) that has helped incentivize qualifying businesses and not-for-profits to keep employees on payroll through the COVID-19 pandemic. Under the Act, the availability of the ERTC […]

Year-End Planning Amid the Prospect of Tax-Reform Uncertainty by Tony Gutierrez, CPA

Posted on November 16, 2021 by Anthony Gutierrez

Once again, year-end planning is complicated by an uncertain tax landscape that hinges on the government’s ability to pass legislation. As Congress continues to negotiate and pare down the administration’s original $3.5 trillion Build Back Better spending bill, taxpayers must tread carefully when making decisions that could impact their businesses and personal wealth for many […]

Minimize Future Conflicts in Buy-Sell Agreements by Choosing the Right Valuation Method by David E. Kolan, CPA

Posted on October 28, 2021 by David Kolan

A transfer of business ownership typically follows a triggering event, such as the death, disability, termination, or retirement of a shareholder. In each of these circumstances, disputes can arise due to the conflicting goals of all the parties involved in the transaction. Resolving these disagreements at the time of transfer can prove costly and time […]

Will Grantor Trusts Become Extinct? by Jeffrey M. Mutnik, CPA/PFS

Posted on October 14, 2021

If and when Congress passes a law reforming the tax code, there is a general expectation that taxes will increase, and some commonly used estate planning strategies will be added to the endangered species list. Among the tools being targeted are irrevocable grantor trusts, which have long enabled grantors to remove appreciating assets from their […]

Properly Titling Trustees’ Signatures Can Protect Their Assets by Jeffrey M. Mutnik, CPA/PFS

Posted on September 24, 2021

When individuals sign legal documents, including personal checks, contracts, tax returns, etc., they generally are not required to add any language explaining who they are. Their names alone satisfy the legal requirements for validating those documents. However, when those people are also officers of corporations or managers of partnerships or LLCs, they usually include their […]

Work Opportunity Tax Credits Can be a Win-Win for Employers Facing Staffing Shortages by Karen A. Lake, CPA

Posted on September 16, 2021 by Karen Lake

Despite a strong economic recovery since the start of the COVID-19 pandemic, businesses of all sizes are struggling to find and hire ample staff to keep up with demand. For some, relief has come by expanding their pool of potential employees to include veterans, ex-felons and other individuals who typically face significant barriers to employment. […]

Your Businesses May Be Missing Out on R&D Tax Credits by Karen A. Lake, CPA

Posted on September 08, 2021 by Karen Lake

The federal research and development (R&D) tax credit is one of the most valuable tax incentives while also being one of the most misunderstood. Contrary to popular belief, eligibility is not limited to businesses that employ scientists, develop cutting-edge products or make groundbreaking discoveries. Rather, it may apply to businesses, large and small, in a […]

What is Representations and Warranties Insurance? by Daniel S. Hughes, CPA/CFF, CGMA, CVA

Posted on August 31, 2021 by Daniel Hughes

Representations and warranties insurance (RWI) is becoming an increasingly common and required tool to expedite M&A transactions, bridge gaps in deal negotiations and reduce buyers’ and sellers’ risks of financial losses after deals close. At the most basic level, representations are the assertions sellers make about their companies, those entities’ financial positions and past and […]

Exposing Financial Statement Fraud by Richard Pollack, CPA

Posted on August 17, 2021 by Richard Pollack

It has been almost 20 years to the day that one of the country’s largest publicly traded companies filed for bankruptcy protection amid what continues to be cited as one of the largest accounting frauds in history. However, since the collapse of Enron and subsequent enactment of legislation to prevent similar scandals, corporate fraud and […]

Mega Backdoor Roths Can Help 401(k) Participants Supersize Retirement Savings by Jeffrey M. Mutnik, CPA/PFS

Posted on August 13, 2021

Employer-sponsored 401(k) plans are excellent vehicles for individuals to save for retirement during their prime earning years. Annual contributions made today with pretax dollars grow tax-deferred until you reach retirement age, when the distributions you take are treated as taxable ordinary income. However, even if you are diligent and contribute the maximum allowable amount to […]

Category: Business Owners