INDUSTRY | 11/14/2024 Following Donald Trump’s 2024 election win, the construction industry is poised for significant changes as the administration’s proposed tax policies take shape. With potential corporate tax cuts, enhanced domestic production incentives, and shifts in environmental policy, construction firms will encounter both new opportunities and challenges. Here’s what to expect and how to …
BUSINESS MANAGEMENT | 11/13/2024 Plan Your Business’s Future: Succession and Owner Transition Strategies The impending generational wealth transfer underscores the importance of effective business succession and transition planning. Preparing for the future can help define your company’s trajectory, secure your legacy, and protect your wealth. Transitioning a business is complex, but proactive planning, adaptability, and …
CONSUMER | 11/08/2024 The incoming President-elect Donald Trump administration’s suggested policies could have a significant impact on the retail sector. The costs of consumer goods, labor policies, interest rates, and the prospect of what may happen if the Tax Cuts and Jobs Act (TCJA) of 2017 sunsets in 2025 could all become major factors in …
REGULATION | 10/01/2024 Are you buying a business that will have one or more co-owners? Or do you already own one fitting that description? If so, consider installing a buy-sell agreement. A well-drafted agreement can do these valuable things: Agreement basics There are two basic types of buy-sell agreements: Cross-purchase agreements and redemption agreements (sometimes …
INDIVIDUAL TAX | 08/10/2024 Equity-based compensation is a valuable tool for attracting and retaining top talent, but it comes with complex tax and accounting implications. Common forms of equity-based compensation include: Understanding the nuances of equity-based compensation is critical to managing tax liabilities and ensuring compliance with IRS and financial reporting requirements. Tax Considerations for …
TAX PLANNING | 08/08/2024 With key provisions of the Tax Cuts and Jobs Act of 2017 (TCJA) set to expire at the end of 2025, many business owners are reassessing their entity structures. The expiration of the qualified business income deduction (Section 199A) and the reversion of individual tax rates in 2026 raise questions about …
INDIVIDUAL TAX | 06/05/2024 Business vehicles can be crucial for your company’s operations, but the costs of purchasing and maintaining a company car can be substantial. For small- to medium-sized business owners, buying a vehicle for business use can take up a significant portion of the annual budget. To offset some of these expenses, you …
BUSINESS MANAGEMENT | 05/14/2024 Strategic planning and risk management are essential to securing the future of any business. With many privately held businesses expected to undergo ownership transitions in the coming years, proactive planning becomes even more critical to safeguard business value, personal assets, and family interests against uncertainty. Preparing Your Business for Succession Taking …
CORPORATE TAX | 04/19/2024 Maximizing Tax Savings: Understanding the Interplay Between Section 179 and Bonus Depreciation Tax planning has evolved from a year-end exercise into an ongoing, strategic process. With regular consultation becoming essential, one significant opportunity for businesses lies in leveraging Section 179 and bonus depreciation. These provisions, particularly following changes introduced by the …
BUSINESS MANAGEMENT | 04/02/2024 In the modern business environment, technology and data accuracy are critical for effective decision-making and operations. For organizations undergoing software transitions—such as accounting, tax, or financial management systems—ensuring clean data is essential to avoid reporting errors, poor decision-making, and wasted resources. If your organization is preparing for a mission-critical software conversion, …