Choosing your business entity is important for tax treatment as well as how it impacts accounting processes. In this video, Long Island CPA and Partner Robert White shares the pros and cons of three primary business entities with examples. He address: The Importance of Entity Selection; The Pros and Cons of Partnerships; How S Corps …
In this video, hear from MFB Partner Robert White and learn how the Section 179 Deduction allows businesses to deduct 100% of the costs of certain equipment in the year it was acquired and placed in service. Bob explains important updates in this deduction under the Tax Cuts and Jobs Act of 2017. You will …
Although it’s tempting to stick with the same trusted bookkeeper you know and love, the complexity of construction bidding and cash flow could prevent you from boosting the construction business profits you deserve. As your company grows, this one thing is worth the investment. Hire a CPA. Keep your loyal bookkeeper (especially if it’s a …
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The Tax Cuts and Jobs Act (TCJA) is the most sweeping reform we have seen since the Tax Reform Act of 1986. Significant changes have been made to tax rates, which in most cases has been lowered with larger income brackets in place. In addition, the construction industry has seen a change in deduction options …
Continue reading Tax Cuts and Jobs Act Impact and Additional Effects on the Construction Industry
As a named executor, you should understand your role as a fiduciary for disposing of or distributing assets according to the available legal documents. It helps if you had a personal relationship with the decedent to better understand the person’s core beliefs, family dynamics and wishes after death. However, your primary role is to create …
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