Cost Segregation Studies When the dust settles on your expensive new building project, or your purchase of an existing facility, your first thought may likely be, “How quickly can I recoup some of my investment?” Depreciation on real property (buildings) can last up to 39 years – so you won’t
Trusts are foundational tools in estate planning, enabling you to manage and distribute assets according to your preferences. But is a simple or a complex trust the right tool for your situation? The choice profoundly influences tax outcomes and overall financial strategies, so to help you identify which is a
You likely had filed your Form 5500 for your employee benefit plan prior to its October 15 due date. If you delayed filing because the plan’s financial statement audit was not yet complete, the Department of Labor (DOL) advises that you reconsider. Employee benefit plans that are considered “large plans”
Soliciting online donations is emerging as the preferred fundraising method for many nonprofits, and it’s easy to understand why. Donors have discovered that online gifts are quick and easy to make, and nonprofits are happy that donation receipts can get generated instantly, making record-keeping a breeze. According to a recent
Recent advances in technology have accelerated the way that business are evolving at an unprecedented rate. The dawn of 5G and advances in communications technology have sped up expectations on both the business and consumer ends of business: Companies like Amazon have completely overturned decades-old business models and core competencies
The intense focus and passion of an entrepreneur or small business owner is reflected in their unrelenting commitment to success. The early mornings and late nights create the “sweat equity” that builds the business’s value. As success builds and growth takes off, it’s critical to have an accurate and reliable
The One Big Beautiful Bill Act (OBBBA) has brought about a variety of changes to the tax landscape, including a key change pertaining to the excess business loss (EBL) limitation. This provision, initially a part of the Tax Cuts and Jobs Act of 2017, has been made permanent by the
The intersection of the landmark 2018 Supreme Court ruling in South Dakota v. Wayfair with the rapid expansion of doing business in multiple states using various selling platforms has quickly complicated sales tax compliance. Most states followed suit with the Wayfair ruling mandating businesses without a physical presence in a
When people hear “automation success stories,” they often picture large non-profit organizations with expansive finance teams and highly complex systems. In reality, many of the most impactful gains come from mid-sized non-profits that are growing quickly and need stronger financial controls without overburdening their teams. For organization in the $3M+
On May 21, 2020, The U.S. Department of Labor (DOL) adopted a new, additional safe harbor for plan administrators to use electronic media, as a default, to furnish covered documents to participants and beneficiaries. Plan administrators will no longer have to send potentially large volumes of paper documents through the
When consumers go shopping, they expect to walk into a store and leave with whatever was on their shopping list. That might not be today’s normal as the coronavirus continues to batter the economy, but the means by which goods transport from point A to point B hasn’t changed. Neither
It’s Time to Own Your ASC 842 Implementation If your company leases anything — such as buildings, equipment, or cars — you know there are rules for presenting and disclosing them on your annual financial statements. But in 2022, those rules are set to change significantly for private companies. If