The Tax Reform Act’s Impact on Manufacturers How much will the tax law changes actually impact your manufacturing business? As you probably are aware of the purpose behind the tax law was to reduce taxes across the board and to level the playing field for international business. So what...
With its many changes to individual tax rates, brackets and breaks, the Tax Cuts and Jobs Act (TCJA) means taxpayers need to revisit their tax planning strategies. Certain strategies that were once tried-and-true will no longer save or defer tax. But there are some that will hold up for...
Do you have a strategic plan for your business? “Measure twice, cut once” is a common saying among construction professionals. You know the value of looking before you leap, of thinking ahead and of taking extra care. You know it saves you time, money and mistakes. Strategic planning is...
Business owners generally prefer to work with entities they know and trust. But related-party transactions can provide opportunities for individuals to act in a manner that’s inconsistent with the interests of shareholders. That’s why auditors take pains to identify and properly address related-party transactions.
Every year is a journey for a business. You begin with a set of objectives for the months ahead, probably encounter a few bumps along the way and, hopefully, reach your destination with some success and a few lessons learned. The middle of the year is the perfect time...
In many parts of the country, summer is peak season for selling a home. If you’re planning to put your home on the market soon, you’re probably thinking about things like how quickly it will sell and how much you’ll get for it. But don’t neglect to consider the...
Every business experiences occasional cash shortages. When this happens, owners often assume they should go out and sell more. But this strategy can sometimes compound money troubles over the short run. Why? The answer lies in a concept known as the “Cash Gap.” Understanding this concept can help your...
It has been three decades since we have had bold new tax reform. The last time this level of change occurred was in 1986, which was under President Ronald Reagan. The new tax reform bill could bring around change for manufacturers, and in a very positive way making life...
Casualty Losses can Provide a 2017 Deduction, but rules tighten for 2018 If you suffered damage to your home or personal property last year, you may be able to deduct these “casualty” losses on your 2017 federal income tax return. For 2018 through 2025, however, the Tax Cuts and...