Insights: Consulting Services

Get your piece of the depreciation pie now with a cost segregation study

December 12, 2021

If the entire cost of constructing the building that houses your operation is depreciating over a 30-year period you should consider a cost segregation study. It might allow you to accelerate depreciation deductions on certain items, thereby reducing taxes and boosting cash flow. And under current law, the potential benefits of a cost segregation study are…

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budget red flags

4 red flags of an unreliable budget

December 1, 2021

Every business should prepare an annual budget. Creating a comprehensive, realistic spending plan allows you to identify potential shortages of cash, possible constraints on your capacity to fulfill strategic objectives, and other threats. Whether you’ve already put together a 2022 budget or still need to get on that before year-end, here are four red flags…

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Opening a new location calls for careful planning

September 20, 2021

The U.S. economy has been nothing short of a roller-coaster ride for the past year and a half. Some industries have had to overcome seemingly insurmountable challenges, while others have seen remarkable growth opportunities arise. If your business is doing well enough for you to consider adding a location, both congratulations and caution are in…

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2021 Q3 Tax Calendar

July 29, 2021

2021 Q3 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 third quarter of 2021. Keep in mind that this list isn’t all-inclusive, so there may be additional deadlines that apply to you. Contact us to ensure you’re meeting all…

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The long and short of succession planning

June 25, 2021

For many business owners, putting together a succession plan may seem like an overwhelming task. It might even seem unnecessary for those who are relatively young and have no intention of giving up ownership anytime soon. But if the past year or so has taught us anything, it’s that anything can happen. Owners who’ve built…

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FFRCA Employer Paid Leave Requirements

October 1, 2020

As county and state officials decide how and when to bring students back into the classrooms, employers should familiarize themselves with new paid family leave legislation and tax credits. Under FFRCA legislation, private sector employers with fewer than 500 employees and certain public sector employers are required to provide paid leave to eligible employees affected…

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Labor Department Issues Guidance for States on Unemployment Eligibility of Individuals Affected by COVID-19

March 16, 2020

The U.S. Department of Labor (DOL) has issued guidance to states regarding unemployment compensation (UC) eligibility for individuals affected by the coronavirus (COVID-19) [DOL Unemployment Program Letter No. 10-20, 3/12/20]. The DOL has said that the unemployment Insurance program requires individuals to be able and available for work and to actively seek work. However, states…

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married couple

Reasons why married couples might want to file separate tax returns

February 27, 2020

Married couples often wonder whether they should file joint or separate tax returns. The answer depends on your individual tax situation. It generally depends on which filing status results in the lowest tax. But keep in mind that, if you and your spouse file a joint return, each of you is “jointly and severally” liable for…

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Getting help with a business interruption insurance claim

February 19, 2020

To guard against natural disasters and other calamities, many companies buy business interruption insurance. These policies provide cash flow to cover revenues lost and expenses incurred while normal operations are limited or suspended. But buying coverage is one thing — making a claim and receiving the funds is quite another. Depending on the scope of…

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Do you want to go into business for yourself?

February 15, 2020

Many people who launch small businesses start as sole proprietors. Here are nine tax rules and considerations involved in operating as that entity. 1. You may qualify for the pass-through deduction. To the extent your business generates qualified business income, you are eligible to claim the 20% pass-through deduction, subject to limitations. The deduction is…

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