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11
Oct
2015

Brown Edwards Announces New Partners

11.10.2015

July 7, 2015 Brown Edwards, one of the leading regional certified public accounting firms in the mid‐Atlanta area, is pleased to name four new partners. “Each of these individuals has been instrumental in our firm’s growth and success.” said Managing Partner, Don Pellillo. “I am excited to see this group join the partnership and look

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9
Oct
2015

Large employers: Time to start planning for ACA information reporting

9.10.2015

With the U.S. Supreme Court’s June 25 decision upholding the Affordable Care Act (ACA) yet again, employers subject to the act’s information reporting provision can no longer afford to put off planning in the hope that the requirements might go away. Beginning in 2016, “large” employers as defined by the act (generally employers with 50

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8
Oct
2015

Married with a large estate? Why you still need a credit shelter trust

8.10.2015

Even though portability now allows married couples to use up both spouses’ estate tax exemptions without having to make lifetime asset transfers or set up trusts, this “easier” path isn’t necessarily the better path. For couples with large estates, making lifetime asset transfers and setting up trusts can provide benefits that exemption portability doesn’t offer.

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7
Oct
2015

Before donating a vehicle, find out the charity’s intent

7.10.2015

If you donate your vehicle, the value of your deduction can vary greatly depending on what the charity does with it. You can deduct the vehicle’s fair market value (FMV) if the charity: Uses the vehicle for a significant charitable purpose (such as delivering meals-on-wheels to the elderly), Sells the vehicle for substantially less than

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6
Oct
2015

You’re a real estate investor, but are you a “professional”?

6.10.2015

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

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5
Oct
2015

100% deduction for certain M&E expenses!

5.10.2015

Generally, businesses are limited to deducting 50% of allowable meal and entertainment (M&E) expenses. But certain expenses are 100% deductible, including expenses: • For food and beverages furnished at the workplace primarily for employees, • Treated as employee compensation, • That are excludable from employees’ income as de minimis fringe benefits, • For recreational or

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