By Kenneth H. Bridges, CPA, PFS March 2015
Georgia has a tax credit program which permits individuals and businesses to receive a credit against their Georgia tax for contributions to qualified student scholarship organizations (SSOs). An SSO is a 501(c)(3) …
By Scott A. Fincher, CPA March 2015
In late 2013, the IRS issued final regulations (effective for 2014 and beyond, with elective retroactive application back to 2012) relating to the deduction or capitalization of amounts paid to acquire, produce or …
By Kenneth H. Bridges, CPA, PFS March 2015
At Bridges & Dunn-Rankin, we have not yet started accepting bitcoin for payment of our fees, but it is estimated that over 80,000 businesses do now accept it.
Bitcoin is an online …
By Kenneth H. Bridges, CPA, PFS March 2015
We believe (and certainly hope) that most of our business clients are regularly consulting with their health insurance advisors to be sure that they are in compliance with the Affordable Care Act …
By Kenneth H. Bridges, CPA, PFS March 2015
Real estate has always received very favorable treatment under our tax laws. For your residence, you get to take deductions for the interest and taxes, and then, when you sell it at …
By Kenneth H. Bridges, CPA, PFS December 2014
The U.S. has what is known as a “worldwide tax system” whereby it taxes its citizens and residents (including domestic corporations) on their worldwide income, from whatever source derived, and then permits …
By Kenneth H. Bridges, CPA, PFS December 2014
Companies frequently use contractors in lieu of “employees.” It is an arrangement that can work well for both parties. The contractor gets to maintain his or her sense of independence, may command …
By Kenneth H. Bridges, CPA, PFS December 2014
Tax rules which were enacted long before the LLC format came into existence provide that a general partner’s K-1 ordinary business income is subject to self-employment tax, while a limited partner’s K-1 …
By Kenneth H. Bridges, CPA, PFS August 2014
Prior to the 1990s, the partnership format was used almost exclusively by professional service firms (e.g. mostly CPA firms and law firms) and real estate and oil & gas ventures. Companies in …
By Kenneth H. Bridges, CPA, PFS August 2014
There has for many years been a requirement that any US person with a financial interest in or signature or other authority over a foreign financial account file with the Treasury Department …