In the News

Copyright 2018
The IRS has finally issued eagerly awaited regulations addressing the new deduction for up to 20% of qualified business income (QBI) from pass-through entities. The QBI deduction was a major piece of the Tax Cuts and Jobs Act, which was signed into law last December.
Copyright 2018
SIMPLE IRAs are available to businesses with 100 or fewer employees. As the name implies, these plans are simple to set up and administer. And there’s still time to set one up for 2018.
Copyright 2018
Giving to charity can provide you with a warm feeling as well as a nice tax break. But you've got to itemize deductions on your tax return. And, like most tax breaks, charitable deductions come with a number of rules you must follow to actually claim the write-off. Here are the details.
Copyright 2018
When considering joining or merging with a medical practice, you need to perform a due diligence investigation into the operations of the practice, as well as the finances.
Copyright 2018
There are opportunity costs lurking in your electric bill. Performing an energy audit can find your plant's power hogs, which is the first step in slashing energy costs. If you haven't had an energy audit recently or haven't made energy reduction a plant-wide priority, chances are you're spending more for power than you need to.
Copyright 2018
Joint ventures are common in the construction industry, especially with large long-term projects. These collaborative arrangements allow construction firms to work together, for a limited time period, on one or more construction projects. The upsides include pooling of expertise and resources, broader geographic reach, reduced risk, and enhanced financing and bonding capacity. But joint ventures also have potential pitfalls, so they need to be set up and managed with care.
Copyright 2018
Audits have become more important due to increased public and government scrutiny of not-for-profit organizations, their management and their boards. Audits not only provide you with a fair assessment of your organization's financial health, but also can reveal vulnerabilities such as weak internal controls, insufficient cash reserves and poor investment policies. Perhaps most important, regular audits reassure your donors, members and other stakeholders that you run a fit organization.
Copyright 2018
Roughly one in five Americans in the workforce believe that "working for pay" will be a major source of their retirement income. This is according to the "2018 Retirement Confidence Survey" produced by the Employee Benefit Research Institute (EBRI). Nearly half of respondents believe paid work will be a minor source of retirement income for them.
Copyright 2018
Thanks to changes included in the Tax Cuts and Jobs Act (TCJA), many more businesses can now use the simpler and more-flexible cash method of accounting for federal income tax purposes. The new law also includes some other tax accounting changes that are good news for small businesses. Like many TCJA changes that apply to businesses, these provisions are permanent. Here's what you need to know.
Copyright 2018
The availability of the cash method of accounting for tax purposes has been expanded by the TCJA. If your business is currently using the accrual method, it might be time for a change.

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