1.28.22
What Do I Do Next Now That the New Lease Standard Is Here?
The accounting topic of 2022 is and will continue to be, the adoption of the new leasing standard. Accounting Standards Update (ASU) 2016‐02, Leases, is…
1.28.22
It’s Time to Review Expense Deduction Rules
The COVID-19 pandemic isn’t over, but business travel is starting back up. So, it’s a good time to revisit the tax rules for deducting business…
1.27.22
Major Changes to the Tax Treatment of Research and Experimental Expenditures Are Here
Historically, companies in the United States that engage in research and development (R&D) activities were afforded certain tax benefits. This included the ability to fully…
1.27.22
Imposter Fraud Targets Military Members and Vets
According to the Federal Trade Commission, veterans lost approximately $60 million to fraud in 2020. Among the greatest fraud threats to this group is “imposter”…
1.27.22
Could Your Company Use a Heavy SUV?
Many businesses need to invest in heavy sport utility vehicles (SUVs) to transport equipment and provide timely services. Fortunately, they may be able to claim…
1.27.22
Handle Retirement Plan Rollovers With Care
Because of the COVID-19 pandemic and other reasons, job upheaval has become common among Americans over the past year or so. If you may soon…
1.26.22
Numerous Tax Limits Affecting Businesses Have Increased for 2022
The start of 2022 also brings yearly adjustments from the Internal Revenue Service (IRS) to more than 60 tax provisions that adjust annually for inflation. …
1.21.22
When Subsequent Events Count
The value of a business interest is valid as of a specific date. The effective date is a critical cutoff point because events that occur…
1.13.22
Businesses With Employees Who Receive Tips May Be Eligible for a Tax Credit
If you’re an employer with a business where tipping is customary for providing food and beverages, you may qualify for a federal tax credit involving…
1.11.22
Defer Tax With a Like-kind Exchange
Do you want to sell commercial or investment real estate that has appreciated significantly? One way to defer a tax bill on the gain is…