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
Congress has, in recent years, become increasingly creative in how it names legislation; particularly tax legislation. And so, the tax legislation enacted in August 2022 was named The Inflation Reduction Act …
By Kenneth H. Bridges, CPA, PFS December 2022
As discussed in previous articles I have written on the topic, Georgia has been the epicenter of the syndicated conservation easements industry, which has been in the IRS’ crosshairs for quite …
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 2022
For those who wish to get a charitable donations tax deduction today (e.g. potentially matching the deduction against a large gain from sale of their business), but wish to effectively control …
By Kenneth H. Bridges, CPA, PFS December 2021
President Biden campaigned on a promise to increase taxes on the wealthy and corporations, and so, with the White House and Congress both under Democratic control, a significant increase in taxes has …
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 …