LGT's Profit Sense

"Blue skies smiling at me"

Topics: Auto, dealer services, GAAP

The term “artificial intelligence” or “AI” may conjure up sci-fi images of robots and futuristic machines. But many businesses today are using AI to obtain more accurate data and help owners and managers make better decisions.

Topics: dealer services, Auto, AI, Artificial Intelligence, used cars

No part of the country is immune from disaster. Whether your construction company operates near water or in a desert, in the city or the suburbs, a natural calamity could stop you in your tracks and even put you out of business. For this reason, it’s a good idea for every contractor to at least consider business interruption insurance.

Topics: Construction, insurance

Your wage structure can vary widely depending on whether your practice is new, with freshly hired staff, or is older, with staff that have been with the practice for many years. For instance, you may find your office in the awkward position of having a long-term medical receptionist who makes more money than newly hired registered nurses. These apparent inequities can create resentment among staff. Your practice can generally handle this, though, via a smart wage structure and policy.

Topics: wages

As many of you may already know, there was a significant increase in the lifetime exclusion for Estate and Gift taxes. Lets break it down.

Topics: gift tax, estate tax, TCJA, Tax

As the end of the year approaches, it is a good time to think of planning moves that will help lower your tax bill for this year and possibly the next.

Topics: Tax, accounting, TCJA, consulting, IRS, Financial, Accounting Tips

Signed into law this past December, the Tax Cuts and Jobs Act (TCJA) is the most sweeping federal tax legislation since 1986. It includes significant changes for individual taxpayers, many of which will have a major impact on higher-income taxpayers like physician practice owners. Here are some of the most notable changes.

Topics: doctors, medical, practice, consulting, revenue, IRS, Accounting Tips, Tax

On the campaign trail, President Trump pledged that tax reform under his leadership would target carried interests — more widely known in the real estate industry as the “promote” in partnership agreements or operating agreements for limited liability companies (LLCs) that are treated as partnerships for tax purposes. In the end, the Tax Cuts and Jobs Act (TCJA) only modifies the rules for carried interests, largely preserving their favorable tax treatment, rather than eliminating that treatment.

Topics: Real Estate, TCJA, accounting, IRS, Accounting Tips