In the News

Copyright 2019

If you own commercial property, you're probably depreciating it over 39 years. That means that every year, you deduct 1/39th of the property's value (excluding land) from your taxes. Depending on the value of your property, you could generate a million dollars or more in depreciation deductions over the 39 years. 

Wouldn't you like to get your hands on some of the money sooner?

Copyright 2019
By 2026, nearly one in four workers will be 55 and older. That's compared to about one in five today, according to the U.S. Bureau of Labor Statistics.
Copyright 2019
Estate planning isn't just for the rich and famous. Many people mistakenly think that they don't need an estate plan anymore because of the latest tax law changes. While it's true that the Tax Cuts and Jobs Act (TCJA) provides generous estate tax relief, even for well-to-do families, the need for estate planning has not been eliminated. There are still numerous reasons to develop a comprehensive estate plan and regularly update it.
Copyright 2019
When a divorce happens, there are often major financial consequences and some important tax issues too. Here are the tax rules that generally apply when a couple's assets are split up in a divorce property settlement.
Copyright 2019
It doesn't happen often, but sometimes not-for-profit organizations merge or are incorporated into one another. For example, your not-for-profit may be contemplating an acquisition of a smaller organization or perhaps you may be merged into a larger organization. In either event, this represents a significant change for managers both personally and professionally.
Copyright 2019
Do you ever get an uneasy feeling that your purchasing system is out of whack? Are you concerned that expenditures are being made on your company's behalf that would never meet with your approval?
Copyright 2019
Acquiring or increasing your firm's bonding capacity can open a whole new market of jobs. It can allow you to take on a multitude of public works projects or larger, more profitable, higher-profile private jobs that require a more hearty bonding capacity than what you, or your agent, are used to.
Copyright 2019
Let's say a partner in your medical practice exits partway through the firm's tax year. How are partnership tax items for that year allocated between the departing partner and the remaining partners? There is more than one way to handle this situation. In general, three methods are allowed for making such allocations.
Copyright 2019
The IRS has issued proposed regulations that provide guidance under new provisions added by the Tax Cuts and Jobs Act (TCJA) related to Qualified Opportunity Funds (QOFs). Specifically, the guidance addresses the gains that may be deferred as a result of a taxpayer's investment in a QOF, as well as special rules for an investment in a QOF held by a taxpayer for at least 10 years.
Copyright 2019
Along with warm temperatures, summer can bring natural disasters. Across the country, residents are currently facing hurricane season along the Atlantic and Gulf coasts, severe storm season in the Midwest, flood season along the Mississippi River, and wildfire season in the Southwest and West.

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