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 …
By Kenneth H. Bridges, CPA, PFS December 2021
Legislation proposed earlier in the year would have accelerated (to 2022) a significant decrease in the estate tax exemption (currently scheduled for 2026) and eliminated the basis step-up at death rule and …
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 …