Archive for December 2021
Day Trader – Mark-to-Market Election Deadline
As the year comes to a close, day traders with net losses may wish they had made a mark-to-market election. This election, under IRC 475(f), permits a taxpayer to treat trading losses as ordinary, with the benefit of being able to deduct them in full. The capital loss limitation and wash sale rules do not…
Read MoreNew Calculation Method for Small Business Size Standards
The US Small Business Administration (SBA) announced that it is altering the method for calculating average annual receipts, which are used in determining size standards for small businesses. This change comes as part of the SBA’s efforts to create consistency among all small business size standards. Effective on January 6, 2020, the rule will change…
Read MoreThe Good News About Build Back Better Act (BBBA) Not Moving Forward
The Full Story The BBBA eliminates a permitted exclusion in the Net Investment Income tax provisions by subjecting all trade or business income of individuals with earnings over $400,000 (individual) or $500,000 (married couples) to the 3.8% net investment income tax—except to the extent already subject to self-employment tax. This is an unfavorable change for…
Read MoreThe Bad News Not Being Reported on the Demise of the Build Back Better Act
At a glance The main takeaway: With the demise of the Build Back Better Act (BBBA), a clause from a 2017 tax legislation is resurfacing that will heavily impact any company who performs or invests in research and development. Impact on your business: The 2017 tax act will force many companies to now budget or use working…
Read More1031 Exchanges –Navigating Related Party Exchanges
At a glance: The main takeaway: With careful tax planning, 1031 exchanges offer taxpayers an opportunity for big savings on income taxes. Know the risks: Few good things ever come easy, and 1031 exchanges are no different. One of the biggest risks is structuring a transaction with a related party. Next Steps: Taxpayers can often mitigate the risks…
Read MoreThe Pulse on the Economy and Capital Markets: Dec 6 – Dec 10, 2021
At a glance: Overall, stock markets across the globe rebounded last week as inflation increases to levels not seen in decades. Stocks, high yield bonds and commodities moved higher last week, and investors lean towards riskier assets. Businesses report strong demand; however, supply chains can’t get enough inventory to keep up. The price for goods…
Read More5 Tips to Increase Case Acceptance in Your Dental Practice
At a glance Schedule a free consultation today. The full story: Case acceptance is a good indicator to determine how well you and your team communicate with patients. It’s also a key factor in growing your practice, yet dental patients are challenging. They know they need your services, however, they drag their feet when it…
Read MoreAprio Expands in Southeast with Merger of Henderson & Godbee, LLP
Combination strategically grows firm’s affordable housing and manufacturing practices ATLANTA – December 14, 2021 – Aprio, LLP, a nationally recognized business advisory and CPA firm, announced today that the Atlanta-headquartered firm will combine with Henderson & Godbee, LLP (Henderson) of Valdosta, Georgia. Effective January 1, 2022, Henderson’s 35 team members, including four partners will…
Read MoreThe DOL Delivers Final Ruling on Reinstated 80/20 Rule
At a glance Schedule a free consultation with Aprio’s Restaurant, Franchise and Hospitality team today. The full story: On October 29, 2021, the U.S. Department of Labor (DOL) published a final ruling on “dual jobs,” which will reinstate the 80/20 rule as well as introduce a new 30-minute rule for tipped employees. The final ruling…
Read MoreTexas Court Rules That Excavation Equipment Qualifies for Sales Tax Exemption
By: Tina Chunn, SALT Senior Manager At a glance The main takeaway: Manufacturers who are paying sales tax on machinery or equipment related to their production process may be entitled to a sales tax refund. How to reap the benefits: Below, we unpack a recent opinion out of Texas that could help shed light on…
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