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 …
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 December 2020
As mentioned in some of my previous articles on the topic, Georgia is the epicenter of the syndicated conservation easements industry, which has been in the IRS’ crosshairs for quite some time. …
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 …