by BeallBarclay Editor | Mar 25, 2019 | Posts
A variety of tax-related limits affecting businesses are annually indexed for inflation, and many have gone up for 2019. Here’s a look at some that may affect you and your business. Deductions Section 179 expensing: Limit: $1.02 million (up from $1 million) Phaseout:...
by BeallBarclay Editor | Mar 21, 2019 | Posts
No matter how thoroughly you check your customers’ credit or how diligently you pursue collection of accounts receivable, you can still end up with uncollected debt. But there could be a silver lining: In certain situations, you can deduct bad debt on your federal...
by BeallBarclay Editor | Mar 19, 2019 | Posts
The Tax Cuts and Jobs Act created a new federal tax credit for employers that provide qualified paid family and medical leave to their employees. It’s subject to numerous rules and restrictions and the credit is only available for two tax years — those beginning...
by BeallBarclay Editor | Mar 14, 2019 | Posts
Commercial buildings and improvements generally are depreciated over 39 years, which essentially means you can deduct a portion of the cost every year over the depreciation period. (Land isn’t depreciable.) But special tax breaks that allow deductions to be taken more...
by BeallBarclay Editor | Mar 12, 2019 | Posts
If you own a business and don’t have a tax-advantaged retirement plan, it’s not too late to establish one and reduce your 2018 tax bill. A Simplified Employee Pension (SEP) can still be set up for 2018, and you can make contributions to it that you can deduct on your...
by BeallBarclay Editor | Mar 8, 2019 | Posts
Ask any partner at an accounting firm what their biggest challenges are and the top three list is bound to include recruiting and retention. As an aging workforce begins to retire, firms look to colleges to find their future leaders. Client Care Top Priority “We...
