5.5.22
The Tax Mechanics Involved in the Sale of Trade or Business Property
What are the tax consequences of selling property used in your trade or business? There are many rules that can potentially apply to the sale…
5.5.22
After Tax Day: Take These Action Steps
The April tax filing deadline has passed, but that doesn’t mean you should push your taxes out of your mind until next year. Here are…
4.19.22
Goodwill in a Bad Economy
In today’s volatile economy, many businesses and nonprofits have been required to write down the value of acquired goodwill on their balance sheets. Others are…
4.19.22
Tax Issues To Assess When Converting From a C Corporation to an S Corporation
Operating as an S corporation may help reduce federal employment taxes for small businesses in the right circumstances. Although S corporations may provide tax advantages…
4.19.22
Fully Deduct Business Meals This Year
The federal government is helping to pick up the tab for certain business meals. Under a provision that’s part of one of the COVID-19 relief…
4.19.22
FAQs About Fair Value in Accounting
In recent years, accounting rule makers have issued guidance that requires certain items on the balance sheet to be reported at “fair value.” Here are…
4.19.22
Congress Eyes Further Retirement Savings Enhancements
In 2019, the bipartisan Setting Every Community Up for Retirement Enhancement Act (SECURE Act) — the first significant legislation related to retirement savings since 2006…
4.15.22
How to Apply New Revenue Recognition Rules to Uninstalled Materials and Equipment
It comes as no surprise that the COVID-19 pandemic has led to substantial economic challenges in the construction industry. Supply chains have been inhibited, leading…
4.14.22
Are You Staying Ahead of Your Construction Company’s Backlog?
When projects stalled across the country during the initial weeks of the pandemic — some indefinitely because of lost funding — the construction industry became…
4.14.22
Reducing Your Construction Company’s Workers’ Comp Costs
Workers’ compensation insurance represents a major expense for construction companies. It might seem like there’s not much you can do to avoid high premiums. However,…