Close up of leasing agreement

Lease vs. Buy – Tax Impacts and Cash Flow Considerations

There are two primary categories of leases – the operation lease and capital lease. In this video, Robert E. White, CPA discusses these two primary types of leases and the differences between them. He also addresses when a company would consider leasing vs. buying equipment or machinery. Learn the pros and cons of each lease …

Continue reading Lease vs. Buy – Tax Impacts and Cash Flow Considerations

Photo of tax forms

Qualified Business Income Deduction Considerations for Construction and General Business

One of the most hotly discussed parts of the Tax Cuts & Jobs Act (TCJA) is the Qualified Business Income Deduction (QBID), otherwise known as the Section 199A deduction. In general, the deduction provides certain pass-through businesses (sole proprietorships, partnerships, S Corporations) with the ability to deduct 20% of their qualified business income (QBI) on …

Continue reading Qualified Business Income Deduction Considerations for Construction and General Business

Client Corner: Suffolk Cement Products

Suffolk Cement Products has operated in the Long Island area for more than 80 years. The Lohr family passed the company down through three generations and witnessed many changes in the industry over the years. Today, Mark Lohr and Linda Hagen carry on the family legacy that began with their grandfather many years ago when …

Continue reading Client Corner: Suffolk Cement Products

Section 199A – What it is and what it means for businesses

Section 199A allows passthrough businesses to deduct 20% of their net income. In this video, Sean Kelly, CPA at Markowitz, Fenelon and Bank, shares how Section 199A affects businesses, which businesses can take advantage of this deduction and what steps a business owner can take throughout the year to remain under the deduction threshold. Section …

Continue reading Section 199A – What it is and what it means for businesses