Newburg | CPA Tax Brief (02/11/2022) Newburg | CPA Staff Writer - David R. Natan, CPA, MST, CVA -- February 4, 2022 During an acquisition, buyers need to be extra careful when reviewing interim internal accrual based financial statements for completeness and accuracy. Quite often the application of the [...]
Newburg | CPA Tax Brief (01/25/2022) Do Not Forget the Expanded Retirement Plan Deadlines and Startup Costs Tax Credit Newburg | CPA Staff Writers- January 21, 2022 (with excerpts from IRS.gov) SECURE Act Retirement Plan Deadline Changes A significant retirement plan change that occurred with The SECURE [...]
Newburg | CPA Tax Brief (01/20/2022) Improve Your Brewery or Distillery Cash Flow with the R&D Tax Credit by: David Natan, CPA, MST, CVA Brewery and distillery entrepreneurs have faced many obstacles over the last few years, navigating such challenges as pandemic-driven shutdowns, taproom spacing, stimulus complexities and [...]
Newburg | CPA Tax Brief (01/17/2022) A primary purpose of estate planning is to ensure that your wealth is distributed according to your wishes after you die. But if a family member challenges the plan, that purpose may be defeated. If the challenge is successful, a judge will decide [...]
Newburg | CPA Tax Brief (01/16/2022) The bipartisan Infrastructure Investment and Jobs Act (IIJA), which was signed into law on November 15, 2021, includes two provisions affecting the reporting of transactions involving digital assets, including cryptocurrency, for U.S. taxpayers. The first provision expands information reporting requirements (Form 1099-B filings) [...]
Newburg | CPA Tax Brief (01/14/2022) While Congress didn’t pass the Build Back Better Act in 2021, there are still tax changes that may affect your tax situation for this year. That’s because some tax figures are adjusted annually for inflation. If you’re like most people, you’re probably more [...]
Newburg | CPA Tax Brief (01/07/2022) Do you want to sell commercial or investment real estate that has appreciated significantly? One way to defer a tax bill on the gain is with a Section 1031 “like-kind” exchange where you exchange the property rather than sell it. With real estate [...]
Newburg | CPA Tax Brief (12/29/2021) As the year-end approaches, we wanted to provide you with some reminders regarding Form 1099 filing requirements for 2021. Form 1099 Reporting Requirements It is important to prepare and issue 1099s to the recipients, and file them to the IRS by the deadline. [...]
Newburg | CPA Tax Brief (12/29/2021) Although your will or revocable trust governs the distribution of many or most of your assets, certain assets — such as retirement plans, insurance policies, and bank or brokerage accounts — require you to name a beneficiary (or beneficiaries). This can be an [...]
Newburg | CPA Tax Brief (11/22/2021) The use of a company vehicle is a valuable fringe benefit for owners and employees of small businesses. This perk results in tax deductions for the employer as well as tax breaks for the owners and employees using the cars. (And of course, they [...]
