Business Owners

Exit Strategies for Business Owners by Judd Appel, ABV

Posted on October 21, 2019 by Richard Berkowitz

As we enter the final quarter of 2019, savvy business owners are taking the time to review their recent performance and evaluate whether or not their existing strategies will serve them in the year ahead. For many business owners, this assessment will result in changes to current plans and prompt them to expedite the timing […]

Is it Time for your Business to Purchase Lease Accounting Software? by Whitney Schiffer, CPA

Posted on October 16, 2019 by Whitney Schiffer

Private companies and nonprofit organization struggling to adopt the new lease accounting standard (ASC 842) are getting a reprieve from the Financial Accounting Standards Board, which voted to delay the effective date of compliance by one year to Jan. 1, 2021. Affected entities should use the additional time to consider how they can more effectively […]

The Challenge of Selecting a Trustee Who Will Carry Out Your Legacy by Richard A. Berkowitz, JD, CPA

Posted on October 10, 2019 by Richard Berkowitz

Naming a trustee to manage your assets and ensure your heirs are provided for in the same manner as you would have if you were alive is one of the most important decisions you will make when creating your estate plan. Unfortunately, it is also the one decision that fails to receive the attention and […]

How Can Small Business Owners Qualify for a Home Office Deduction? by Adam Cohen, CPA

Posted on September 18, 2019 by Adam Cohen

Small-business owners who use a portion of their homes regularly and exclusively for business purposes may qualify for a home office deduction that can help them save money of their taxes and improve their bottom line. For purposes of claiming this deduction, a home is defined as a house, apartment, condominium, mobile home, boat or […]

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

Posted on September 12, 2019 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 […]

5 Reasons You Should Not Hold Real Estate in an S Corporation by John G. Ebenger, CPA

Posted on September 04, 2019 by John Ebenger

Savvy investors know that holding real estate in their individual names is a bad idea that exposes them to a broad range of legal risks and personal financial liabilities. Instead, U.S. tax laws permit investors to structure their real estate holdings into separate business entities, such as partnerships, limited liability companies (LLCs) and corporations, which […]

Hurricane Dorian – It’s Not too Late for Businesses to Plan Ahead for Storms by Daniel Hughes, CPA

Posted on August 29, 2019 by Daniel Hughes

As Hurricane Dorian menaces the Florida coast, it is not too late for businesses to prepare for the threat of a potential disaster that can interrupt normal businesses operations and cause millions of dollars in damages and lost revenue. Following are just a few things that businesses should consider as part of a well-thought-out disaster-preparedness […]

New Tax Law Limiting Deductions for Interest Expense Impact M&A Transactions by Lewis Taub, CPA

Posted on August 07, 2019 by Lewis Taub

The new tax law that went into effect on Jan. 1, 2018, has had a tremendous impact on business activities, including merger and acquisition (M&A) transactions. As businesses prepare to file their tax returns this year, they are just now quantifying how much the Tax Cuts and Jobs Act (TCJA) affects their bottom line. Prior […]

IRS Issues Final Regulations, Bans Taxpayers from Circumventing SALT Deduction Caps by Karen A. Lake, CPA

Posted on July 09, 2019 by Karen Lake

The IRS has officially shut down any plans that high-tax states had introduced to help their residents circumvent the new tax law’s $10,000 cap on deductions for state and local taxes (SALT). According to final guidance issued by the IRS on June 11, 2019, taxpayers are prohibited from receiving federal tax deductions for the full […]

Expanded Tax Deductions Make Now the Perfect Time to Invest in Your Business by Angie Adames, CPA

Posted on May 26, 2019 by Angie Adames

The U.S. tax laws have a long history of incentivizing taxpayers to invest in their domestic business operations and purchase equipment, machinery, vehicles and other capital assets that are essential to generating business income. With the enactment of the Tax Cuts and Jobs Act (TCJA) effective for tax year 2018, the government has sweetened the […]

Category: Business Owners