8.28.24
Could Your Construction Company Benefit From a PTET?
If your construction business is structured as a partnership, limited liability company or S corporation, don’t overlook the potential benefits of a state’s pass-through entity…
8.27.24
New York State Sales Tax – A Complex Issue
When discussing the complexities of taxes for contractors, most people immediately think of income taxes. Yet, there is another significant tax that can be equally…
8.27.24
Keys to Ownership Transition and Business Succession Planning
Business succession planning is essential for all privately owned manufacturing companies, and the importance of a detailed plan is magnified during periods of economic upheaval.…
8.27.24
Recordkeeping Rules for Your Manufacturing Company
When it comes to recordkeeping, manufacturing companies have a lot to contend with, such as accounting rules, making claims, tracking expenses for tax deductions, and…
8.27.24
Want to Launch a Manufacturing Company Factor in the Tax Treatment of Start-up Costs
Starting a manufacturing company isn’t a decision to be taken lightly. But given the current demand for innovative, technology-driven solutions to an array of challenging…
8.27.24
Further Investing in Automated Equipment May Be the Right Move for Manufacturers
If your manufacturing plant has invested in automated equipment, such as robots, you’re not alone. In fact, according to the International Federation of Robotics, U.S.-based…
8.26.24
Navigating Tax Complexities: Craft Partnership Agreements and LLC Operating Agreements With Precision
Partnerships are often used for business and investment activities. So are multi-member LLCs that are treated as partnerships for tax purposes. A major reason is…
8.22.24
Internal Revenue Service Announces Plan for Compliance Efforts Regarding Employee Retention Credit
When the COVID-19 pandemic hit, the IRS introduced the Employee Retention Credit (ERC) as part of the Coronavirus Aid, Relief, and Economic Security (CARES) Act.…
8.19.24
Cash or Accrual Accounting: What’s Best for Tax Purposes?
Your businesses may have a choice between using the cash or accrual method of accounting for tax purposes. The cash method often provides significant tax…
8.15.24
Using an IRA Withdrawal for a Qualified Home Purchase
Purchasing a home is an expensive proposition that leaves many would-be buyers feeling cash-strapped. If that’s you, you might be considering taking money out of…