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Partnerships Must Prepare for New Audit Regime

Originally posted in January, the IRS has reissued a proposed regulation that implements the centralized partnership audit regime. Mandatory implementation is set to take effect on January 1, 2018. Replacing the unified audit procedures enacted by the Tax Equity and Fiscal Responsibility Act of 1982 (TEFRA), the newly reissued rules will assess and collect tax […]

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Individual Year-End Tax Planning

With Donald Trump in the White House and Republicans maintaining a majority in Congress, dramatic tax changes may be on the horizon. Most likely, many provisions will not go into effect until 2018 or later. However, it’s important to keep in mind that 2018 legislation can still impact 2017 tax planning. During year-end planning for […]

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Measuring Customer Profitability

Your P&L statement may measure the overall profitability of your business, but it falls short in terms of measuring the profitability of individual customers or services. To continually improve performance, every company should understand the economic building blocks that drive their business and have a deep understanding of their customers. For a company to be […]

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New Option for Small Business Startups Claiming Research Credit

A new interim guidance, recently issued by The Internal Revenue Service, provides small business owners some relief. According to Notice 2017-23, eligible businesses can take advantage of a new option which enables them to apply part or all of their research credit against their payroll tax liability. This is big news for taxpayers who previously […]

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Five Factors to Consider When Deciding Whether to Hire or Acquire

There are many benefits to acquiring a company, the most common including expanding into a new territory or market, gaining new clients or growing revenues and profits. An acquisition is like an investment – and like all investments, your top priority is a good return. For construction firms, a return is valued as a strategy […]

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