By Kenneth H. Bridges, CPA, PFS November 2015
Most growth-oriented companies will eventually go through due diligence, either in connection with a capital raise or a sale transaction. Proper preparation can improve the likelihood of a favorable outcome; and preparation …
By Kenneth H. Bridges, CPA, PFS July 2015
IRC section 409A was enacted in 2004 to curb perceived abuses in the area of executive nonqualified deferred compensation (NQDC). The supposed primary target of this legislation was the situation in which …
By Kenneth H. Bridges, CPA, PFS July 2015
For income tax purposes, a net operating loss can be carried back 2 years or forward up to 20 years. While less than perfect, this provision tends to mostly smooth out the …
By Kenneth H. Bridges, CPA, PFS July 2015
Because of the inherent potential for abuse, tax rules require a higher level of substantiation for travel, meal and entertainment expenses. For these expenses to be tax deductible, you must document what …
By Kenneth H. Bridges, CPA, PFS July 2015
In order to be deductible as a business expense, an expense must be ordinary and necessary and be incurred in an activity engaged in for profit. Under the “hobby loss” rules, there …
By Kenneth H. Bridges, CPA, PFS July 2015
Many of our clients see on their tax returns a “domestic production activities deduction” and wonder what this is. This deduction, enacted in 2004, was designed to replace the exclusion for “extraterritorial …
By Jacquelyn J. Brown, CPA July 2015
The Affordable Care Act included a new 3.8% Medicare tax on net investment income which first took effect for 2013. “Net investment income” for these purposes includes most interest, dividends, rents, royalties, capital …
By Kenneth H. Bridges, CPA, PFS July 2015
While many of the accounting and tax issues faced by software companies are common in other industries as well, there are certain areas in which software companies must be well-versed in order …
By Kenneth H. Bridges, CPA, PFS March 2015
Most states impose a sales tax on the sale of most items of tangible personal property, while typically exempting from the tax the sale of services and intangible property. So what is …
By Kenneth H. Bridges, CPA, PFS March 2015
It is well-known that an employer can provide health insurance benefits to its employees tax-free under a group plan. It has also long been the rule of tax law that an employer …