By Kenneth H. Bridges, CPA, PFS February 2024
If you own or control at least 25% of the ownership interests of a corporation, limited partnership, limited liability company or similar entity, or directly or indirectly exercise “substantial control” over such …
By Kenneth H. Bridges, CPA, PFS November 2023
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 November 2023
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 fee …
By Kenneth H. Bridges, CPA, PFS November 2023
Could Art Donations Be the Next Syndicated Conservation Easements?
Anytime we are dealing with a charitable donation of something other than cash or publicly-traded stock, valuation becomes a major issue. For the …
By Kenneth H. Bridges, CPA, PFS June 2023
On December 29, 2022, President Biden signed into law the Consolidated Appropriations Act of 2023, which included retirement legislation known as SECURE 2.0 Act. While this legislation is mostly of …
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
Charitable gifts of cash can provide a nice tax benefit. Charitable gifts of appreciated assets can provide an even greater tax benefit, as you can potentially get a deduction for the value …
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 …