Latest News

23
May
2017

Business Owners: When It Comes To IRS Audits, Be Prepared

23.05.2017

If you recently filed your 2016 income tax return (rather than filing for an extension) you may now be wondering whether it’s likely that your business could be audited by the IRS based on your filing. Here’s what every business owner should know about the process. Catching the IRS’s eye Many business audits occur randomly,

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16
May
2017

Real Estate Investor Vs. Professional: Why It Matters

16.05.2017

Income and losses from investment real estate or rental property are passive by definition — unless you’re a real estate professional. Why does this matter? Passive income may be subject to the 3.8% net investment income tax (NIIT), and passive losses generally are deductible only against passive income, with the excess being carried forward. Of

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11
May
2017

Operating Across State Lines Presents Tax Risks — Or Possibly Rewards

11.05.2017

It’s a smaller business world after all. With the ease and popularity of e-commerce, as well as the incredible efficiency of many supply chains, companies of all sorts are finding it easier than ever to widen their markets. Doing so has become so much more feasible that many businesses quickly find themselves crossing state lines.

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3
May
2017

Turning Next Year’s Tax Refund Into Cash In Your Pocket Now

3.05.2017

Each year, millions of taxpayers claim an income tax refund. To be sure, receiving a payment from the IRS for a few thousand dollars can be a pleasant influx of cash. But it means you were essentially giving the government an interest-free loan for close to a year, which isn’t the best use of your

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25
Apr
2017

Do You Know The Tax Implications Of Your C Corp.’s Buy-Sell Agreement?

25.04.2017

Private companies with more than one owner should have a buy-sell agreement to spell out how ownership shares will change hands should an owner depart. For businesses structured as C corporations, the agreements also have significant tax implications that are important to understand. Buy-sell basics A buy-sell agreement sets up parameters for the transfer of

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18
Apr
2017

Individual Tax Calendar: Key Deadlines For The Remainder Of 2017

18.04.2017

While April 15 (April 18 this year) is the main tax deadline on most individual taxpayers’ minds, there are others through the rest of the year that are important to be aware of. To help you make sure you don’t miss any important 2017 deadlines, here’s a look at when some key tax-related forms, payments

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5
Apr
2017

Saving Tax With Home-Related Deductions And Exclusions

5.04.2017

Currently, home ownership comes with many tax-saving opportunities. Consider both deductions and exclusions when you’re filing your 2016 return and tax planning for 2017: Property tax deduction. Property tax is generally fully deductible — unless you’re subject to the alternative minimum tax (AMT). Mortgage interest deduction. You generally can deduct interest on up to a

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28
Mar
2017

2017 Q2 Tax Calendar: Key Deadlines For Businesses And Other Employers

28.03.2017

Here are some of the key tax-related deadlines affecting businesses and other employers during the second quarter of 2017. Keep in mind that this list isn’t all-inclusive, so there may be additional deadlines that apply to you. Contact us to ensure you’re meeting all applicable deadlines and to learn more about the filing requirements. April

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24
Mar
2017

Brown Edwards 50th Anniversary

24.03.2017

In 1967, two small accounting firms – one in Bluefield, West Virginia and the other in Roanoke, Virginia – had an idea:  come together to form a firm that would, from the start, make the success of clients its number one focus. Over the next 50 years, that outstanding formula helped Brown Edwards grow into one

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