April Tax NewsletterMergers & Acquisition
April 13, 2018

M&A Tax Planning – Qualified Small Business Stock – Potential for Large Gain Exclusion on Sale

Section 1202 was passed to encourage economic activity, employment, and investment in new ventures and small businesses. Under section 1202, a non-corporate taxpayer is able to exclude gain from the sale or exchange of qualified…
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April Tax NewsletterInternational
April 13, 2018

International Tax – Impact of §965 on Subchapter S Corporations

HR1, also known as the “Tax Cuts and Jobs Act” (“the Act”), imposes a one-time transition tax on U.S. Shareholders of Specified Foreign Corporations (“SFC”), including S corporations, through a mandatory repatriation as set forth…
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Tax
March 26, 2018

2018 Q2 tax calendar: Key deadlines for businesses and other employers

Here are some of the key tax-related deadlines affecting businesses and other employers during the second quarter of 2018. Keep in mind that this list isn’t all-inclusive, so there may be additional deadlines that apply…
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Tax
March 21, 2018

Defer tax with a Section 1031 exchange, but new limits apply this year

Normally when appreciated business assets such as real estate are sold, tax is owed on the appreciation. But there’s a way to defer this tax: a Section 1031 “like kind” exchange. However, the Tax Cuts…
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Uncategorized
March 17, 2018

How materiality is established in an audit or a review

When accountants conduct an audit or review, they can’t test every transaction. Instead, they set a “materiality” threshold. This benchmark is used to obtain reasonable assurance in an audit — or limited assurance in a…
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Tax
March 17, 2018

Tax credit for hiring from certain “target groups” can provide substantial tax savings

Many businesses hired in 2017, and more are planning to hire in 2018. If you’re among them and your hires include members of a “target group,” you may be eligible for the Work Opportunity tax…
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Tax
March 12, 2018

Make sure repairs to tangible property were actually repairs before you deduct the cost

Repairs to tangible property, such as buildings, machinery, equipment or vehicles, can provide businesses a valuable current tax deduction — as long as the so-called repairs weren’t actually “improvements.” The costs of incidental repairs and…
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March Tax Newsletter
March 6, 2018

CORPORATE – Tax Reform and Financial Statement Reporting – What You Need to Know

Shortly after the Tax Act was enacted, SEC staff issued SAB 118, which provides guidance for accounting for tax reform.  SAB 118 provides, with regard to matters for which the accounting is not completed, that…
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March Tax NewsletterReal Estate
March 6, 2018

REAL ESTATE

One of the provisions contained in the Tax Act that impacts real estate is one that limits the deductibility of interest expense. The provision generally disallows a deduction for net interest expense that exceeds 30…
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March Tax NewsletterTax Accounting Methods
March 6, 2018

Tax Accounting Methods

Using the cash method of accounting, rather than the accrual method, for tax purposes can be very advantageous for your business.  Under the cash method, expenses are deductible when paid and income is earned when…
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