By Kenneth H. Bridges, CPA, PFS December 2021
Buyers of businesses generally desire a deal structure that will be treated as an asset acquisition for income tax purposes. This is because they want to be able to depreciate or amortize …
By Kenneth H. Bridges, CPA, PFS and Jacquelyn B. Gibson, CPA December 2021
The Tax Cuts and Jobs Act enacted in late 2017 placed a $10,000 per year limit on individuals’ deduction for state and local taxes (SALT) on Schedule …
By Kenneth H. Bridges, CPA, PFS April 2021
Often when a prospective client calls me, it is because they have just gotten sticker shock after learning how much they owe with their tax return. Many times, it is because they …
By Kenneth H. Bridges, CPA, PFS April 2021
On March 11, 2021, President Biden signed into law the American Rescue Plan Act of 2021 (ARPA). Below is a summary of the highlights.
3rd round of rebate checks to individuals…
By Kenneth H. Bridges, CPA, PFS April 2021
On December 27, 2020, the Consolidated Appropriations Act, 2021 (CAA 2021) was signed into law. Below is a summary of the highlights.
PPP-funded expenses are tax deductible – For most small to …
By Kenneth H. Bridges, CPA, PFS December 2020
For most small to midsize companies, the centerpiece of the CARES Act (Covid-19 stimulus legislation) was the Paycheck Protection Program (PPP), whereby a business could apply for an SBA loan equal to …
By Kenneth H. Bridges, CPA, PFS December 2020
Late November through year end is the time for year-end tax planning. While every client’s situation is unique, here are some of the more common strategies we employ.
Acceleration or deferral of …
By Kenneth H. Bridges, CPA, PFS December 2020
Prior to enactment of the Tax Cuts and Jobs Act (TCJA) in late 2017, the IRC 1031 like-kind exchange rules applied not only to real estate, but also to tangible personal property …
By Kenneth H. Bridges, CPA, PFS June 2020
In mid-March, as efforts began to “flatten the curve” of the spread of COVID-19, businesses began to furlough employees by the millions, and the fear was that many small businesses would not …
By Kenneth H. Bridges, CPA, PFS June 2020
In March, as much of the U.S. (and global) economy began to shut down, Congress went to work passing massive stimulus legislation to try keep the economy going. Federal legislation enacted from …