By Kenneth H. Bridges, CPA, PFS June 2023
Quarterly estimated tax payments. Not exactly the sexiest of topics, but one we get a lot of questions about and one that creates a fire drill for our tax professionals the first …
By Kenneth H. Bridges, CPA, PFS June 2023
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 A as itemized deductions. As …
By Kenneth H. Bridges, CPA, PFS June 2023
Historically, “research and experimentation” expenditures have enjoyed very favorable tax treatment. You could elect to deduct such expenses immediately (or capitalize and amortize if more beneficial), the expenses are not subject to …
By Kenneth H. Bridges, CPA, PFS June 2023
Companies frequently use contractors in lieu of “employees.” It is an arrangement that can work well for both parties. The contractor gets to maintain his or her sense of independence, usually commands …
By Shane D. McGrath, CPA June 2023
In a continued effort to promote the adoption of electric vehicles (EVs), recent updates to the tax code have expanded the existing tax credits while introducing new incentives. The Inflation Reduction Act extended …
By Kenneth H. Bridges, CPA, PFS December 2022
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 A as itemized deductions. Many …
By Kenneth H. Bridges, CPA, PFS December 2022
If you own a business, you have almost undoubtedly received emails, flyers and other solicitations suggesting that you can receive up to $26,000 per employee from the IRS; and the contingency …
By Kenneth H. Bridges, CPA, PFS December 2022
Historically, “research and experimentation” expenditures have enjoyed very favorable tax treatment. You can elect to deduct such expenses immediately (or capitalize and amortize if more beneficial), the expenses are not subject …
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 …