Do you owe the AMT?
American educational reformer Horace Mann called education “the great equalizer.”1 In football, it’s been said that turnovers are the great equalizer. And anyone who’s ever watched CBS’s “The Amazing Race,” knows airport delays are the great equalizer in a race around … Read more…
Key Performance Indicators for Not-for-Profit Organizations
Key Performance Indicators (KPI) KPIs are quantifiable measures of how well you are performing activities that are critical to the success of your organization Statement of Financial Position Indicators Liquidity Current Ratio and Quick Ratio The current ratio and quick … Read more…
Mutual funds vs. ETFs
The growth of exchange-traded funds (ETFs) has been explosive. In 2005, there were less than 500; by the latter half of 2021, there were over 8,000 investing in a wide range of stocks, bonds, and other securities and instruments.1 At … Read more…
Your construction company may be able to claim the fuel tax credit
The federal fuel tax credit recently made the news when it was referenced on the IRS’s most recent “Dirty Dozen” list of tax scams. However, the false fuel-tax-credit scam involves dishonest third parties telling individuals that they may qualify for … Read more…
Tax Brief: Schedule C Political Campaign and Lobbying Activities
The IRS Form 990’s Schedule C is designed to provide information about a not-for-profit organization’s political campaign and lobbying activities. It is critical for not-for-profits to be aware of Schedule C as it is one of the few ways that … Read more…
Small Business Webinar: “Financial Statements 101: Understanding the Basics for Small Business Success”
Make better financial decisions for your small business by learning how to read and understand the 3 key financial statements: the balance sheet, income statement, and cash flow statement. We walk through how to read each one individually and then … Read more…
IRS guidance coming regarding the IRA’s Clean Vehicle Credit
The Inflation Reduction Act (IRA) extended and expanded the Section 30D Clean Vehicle (CV) Credit, previously known as the Electric Vehicle (EV) Credit. The credit now covers “clean vehicles,” which include plug-in hybrids, hydrogen fuel cell cars and EVs. On April 17, 2023, the … Read more…
Beefing up benefits may save tax dollars for construction businesses
Construction companies continue to find themselves embroiled in a protracted battle for skilled labor. One fundamental way to recruit the best talent and retain valued employees is by offering competitive compensation and benefits. Let’s focus on the latter, which may … Read more…
Excise Tax On Capital Gains is Constitutional in Washington State
The Washington State Supreme Court recently ruled in a 7-2 decision that the state’s 7% capital gains tax is a valid excise tax, rather than an income tax, and not subject to the uniformity and levy requirements of the Washington … Read more…
President Biden’s proposed budget includes notable tax provisions
President Biden has released his proposed budget for the federal government for the 2024 fiscal year. The budget, which aims to cut the deficit by nearly $3 trillion over 10 years, includes numerous provisions that would affect the tax bills … Read more…
