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 …
By Kenneth H. Bridges, CPA, PFS June 2020
In March, as much of the U.S. (and global) economy began to shut down, Congress went to work passing massive stimulus legislation to try keep the economy going. Federal legislation enacted from …
By Kenneth H. Bridges, CPA, PFS June 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 March 2020
“Syndicated conservation easements” have been the tax shelter du jour (especially amongst Georgia residents) for more than a decade now (in fact, we were first approached about these at least 18 years …
By Kenneth H. Bridges, CPA, PFS March 2020
In late 2019, the Setting Every Community Up for Retirement Enhancement (SECURE) Act was enacted. Below is a summary of the highlights.
Elimination of the “Stretch IRA” – For persons who passed …
By Kenneth H. Bridges, CPA, PFS March 2020
An S-corp shareholder’s ability to deduct for income tax purposes K-1 losses from the S-corp is limited to his or her “basis” in the S-corp. “Basis” for these purposes is the amount …