This One Thing Can Boost Construction Business Profits

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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Takeaways on Estate Planning Trends from Heckerling Institute

By Thomas P. Terry, CPA, Partner I spent the week of January 24 at the 53rdAnnual Heckerling Institute on Estate Planning provided by the University of Miami School of Law. As always, it was a week full of exceptional speakers with even better thoughts and ideas. Yes, this is what I do for fun while …

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What to Expect from an Employee Benefit Plan Audit

An employee benefit plan audit is something a plan administrator should see as a tool to help protect their most valuable company asset – their employees. In 1974, the Employee Retirement Income Security Act (ERISA) was established to set minimum standards for employee benefit plans of private-sector employees. Over the years, it has been amended …

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Qualified Business Income Deduction – Section 199A

The Tax Cuts and Jobs Act (TCJA) adds a new deduction for noncorporate taxpayers for qualified business income. The deduction reduces taxable income, rather than adjusted gross income, and is available to taxpayers who qualify, even if they take the standard deduction. The deduction is 20% of the taxpayer’s qualified business income (QBI) from a partnership, …

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Client Corner: Ramp Motors

Ramp Motors has a history of providing and receiving profound loyalty since their humble beginnings. They have exclusively sold Ford vehicles since Alfred Rampone began operations in 1944. Many employees remain with the dealership for two, and even three decades, and clients return again-and-again to purchase vehicles and for parts and repair. It’s this loyalty …

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