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GOP Tax Proposal: What You Need to Know

On November 2, 2017, House Republicans unveiled a major overhaul of the Internal Revenue Code. The proposed “Tax Cuts and Jobs Act” would have an impact on virtually every individual and business on a level not seen in over 30 years. The plan calls for lowering the individual and corporate

SECURE Act 2.0 Gaining Momentum

The SECURE Act (Setting Every Community Up for Retirement Enhancement), passed in late 2019, included the most updates to retirement legislation in over a decade. The legislation’s goal was to encourage more Americans to improve their retirement savings. As we noted at that time, the provisions of the SECURE Act

Kentucky Provides Guidance on State Tax Deductions for Corporate Income

The Kentucky Department of Revenue recently released guidance regarding the deductibility of state taxes from Gross Income for Corporations. Kentucky Technical Advice Memorandum, KY-TAM-18-06, sheds some light as to which taxes are deductible and those that are not. KY-TAM-18-06 concludes that all state taxes not based on gross or

Construction Firms See Expansion in the First Half of 2019

2019 began with expansion for the construction industry, a recent Associated Builders and Contractors, Inc. (ABC) study reports. According to ABC, nonresidential spending totaled $762.5 billion for January 2019, which represents an increase of 4.8 percent over January 2018. Similarly, FMI’s recent first quarter 2019 report indicated the engineering and

Big Data = Big Challenges for Construction Companies

Technology is advancing at a rapid pace and with it comes many changes and opportunities. In the last few years alone, construction companies have integrated new technologies into the workflow to reduce inefficiencies and streamline processes. The integration of tools such as drones, Building Information Modeling (BIM), virtual reality and

Kentucky Workforce Training Incentives

Like most states, Kentucky offers a number of tax credits, deductions and other incentives to companies that expand or relocate operations to the state. Beyond this there are also incentives to reward local companies for expanding operations and hiring residents to manage operations. This can often times leave one wondering

America First: How the Proposed 2018 Budget Affects You

What You Need To Know President Donald Trump released his first budget proposal on Tuesday, May 23, and the direction his administration wants to go is quite evident. In his budget, a number of departments based around domestic and environmental developments, take a huge spending hit to the tune of

Important SBA Updates Impact the PPP & EIDL

Over the course of the COVID-19 pandemic, the Small Business Administration (SBA) has been charged with the challenging task of managing important relief programs including the Paycheck Protection Program (PPP) and Economic Injury Disaster Loan (EIDL) program. The ongoing changes, clarifications, and updates have left many borrowers’ and applicants’ heads

Client Accounting & Advisory Services – Los Angeles (CA)

Download Our Fractional CFO Guide   Los Angeles Client Accounting & Advisory Services When a business experiences a period of sustained growth it is certainly a cause for celebration. Not only does it mean the business strategy has been successfully executed, but also reflects the hard work of team members

Small Businesses May Get Second Bite at the PPP Apple

A new bill, the Prioritized Paycheck Protection Program (P4) Act, was introduced in the Senate on June 18, and if it becomes law, it will allow certain small businesses to apply for a second Paycheck Protection Program loan (PPP). The PPP – which offers loans that can amount to as

Unlocking the Importance of Trust Analysis in Tax Return Preparation

Accurate preparation of a trust tax return goes well beyond mere numerical calculations and form submissions – a comprehensive grasp of the trust’s framework, operational dynamics, and financial undertakings is imperative. Trust analysis is a cornerstone in this endeavor, ensuring meticulous adherence to tax statutes while optimizing tax efficacy. Let’s

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