Year-End Tax Planning Moves

Posted by lgtcpa on Oct 15, 2018

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.

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

Is the TCJA Affecting Your Medical Practice?

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.

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

Lock down financial assets with the right controls

Posted by Trey Hardy, Tax Supervising Senior on Jul 25, 2018

You’ve got a fence around the job site. Your heavy equipment is turned off and the keys stored securely. Your materials are tied down and, where possible, kept out of sight. But what about your financial assets? Are you protecting those as carefully as your physical assets?

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Topics: Tax, accounting, consulting, Construction

Four ideas to counter shrinking donations under the new tax law

Posted by James Youngblood on Jul 25, 2018

Passage of the Tax Cuts and Jobs Act (TCJA) last year spread dismay in the nonprofit community. With several provisions in the law expected to depress charitable giving, nonprofits should mobilize to minimize the negative impact on their bottom lines.

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Topics: accounting, consulting, Not-for-Profit, Tax

Navigating a shifting landscape

Posted by Jules DeWitt, CPA, ACS Supervising Senior on Jul 25, 2018

Every medical practice faces ongoing challenges in maintaining a successful bottom line. New challenges arise whenever Medicare and Medicaid policy, or the economy, changes. Still, a handful of problems rise to the top in most medical practices. Here are some ideas for solving them before they become overwhelming.

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Topics: Financial, Accounting Tips, consulting, Healthcare, doctors, accounting

News for Not-for-Profits — June 2018 edition

Do you qualify for the new family leave credit?

The new tax law creates a credit for eligible employers in 2018 and 2019 based on paid leave for up to 12 weeks, granted under the federal Family and Medical Leave Act ("FMLA"). Employers aren’t required to pay employees for FMLA leave, but — for 2018 and 2019 — those that do may qualify for a tax credit of 12.5% of the wages paid. That’s if the rate of payment under the leave program is at least 50% of employees’ regular rate.

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Topics: Not-for-Profit, Accounting Tips, Audit, Financial, consulting

Are you ready for the new revenue recognition standard?

It’s been eight years since the Financial Accounting Standards Board ("FASB") first proposed an overhaul of its revenue recognition standard and four years since it issued the new standard. Now the standard’s effective date is finally approaching — Jan. 1, 2019, for calendar-year nonpublic companies that comply with generally accepted accounting principles ("GAAP"). Is your company ready?

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Topics: Construction, consulting, Audit, revenue, guide, Accounting Tips

Recent legislation encourages low income developments

Both the Tax Cuts and Jobs Act ("TCJA") and Congress’s massive new spending package received widespread media coverage, but a couple of provisions that incentivize investments in low income housing have largely gone under the radar. One provision in the tax law offers significant tax breaks for investors looking to defer or abate capital gains taxes, while the spending bill boosts the Low Income Housing Tax Credit ("LIHTC").

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Topics: Tax, consulting, Real Estate, IRS, Accounting Tips

A look inside the 2018 manufacturing survey

Posted by Joshua Woods, Practice Growth on May 30, 2018

For the second year, the Leading Edge Alliance (“LEA”), has conducted a Manufacturing Outlook and Insights survey with participants across the country. This year there was a 75% increase in participation. Overall, the survey resulted in a positive outlook for individual businesses, the industry as a whole, and the economy. There were several factors that contributed to the positivity: some of the factors were intrinsic, while others were from outside sources, such as the growing U.S. economy. Let’s take a look inside some of the survey results and dig deeper into the future of the manufacturing industry.

 

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Topics: Manufacturing & Distribution, Reporting, consulting

Four basic SEO practices

Posted by Victoria Hernandez, Communications on Mar 26, 2018

In a series of SEO, we’ll discuss different tasks you can do in order to help maximize traffic on your site.

Let’s start from the beginning. What is SEO? SEO stands for search engine optimization. What does that mean? Search engines like Google, Bing, and Yahoo all use algorithms that decide how to rank sites on their pages, and SEO is the process that helps your site rank closer to the top of the page.

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Topics: consulting, Not-for-Profit, Manufacturing & Distribution, Healthcare, Auto, Construction, Real Estate