News
EMPLOYEE RETENTION CREDITS – That offer might not contain the full story
Over the last few months, you have undoubtedly received emails claiming that you are missing out on hundreds of thousands of dollars in government funds due to the pandemic and that you should act before they expire. Before jumping in, take a look at the items below. Be careful with that email claiming ERC funds; that offer might not contain the full story.
Preparing to Sell Your Business
The idea of selling a business can be daunting: finding a buyer and managing the process all while continuing to run the business may cause owners to wait until they need to sell. An owner can, however, take steps to alleviate the stress and uncertainty of selling, while helping to achieve the best value for the business. In this article, our friends at BDO USA provides recommendations that can position your company for a smoother sale process, whether selling to an internal buyer, a financial buyer, or a strategic partner.
IS IT TIME FOR A SALES AND USE TAX CHECK-UP?
One area of taxation that has seen significant change in the last few years is sales and use tax. Wegmann Dazet’s Allison Civello, CPA explains that due to changes to sales tax nexus, some businesses might not be paying required use taxes, or they might be paying the tax to the wrong jurisdiction, or they might be …
MANDATORY CAPITALIZATION OF R&E EXPENSES – THE IMPACT ON LIFE SCIENCES COMPANIES
Our friends at BDO explain that Research & Experimental (R&E) expenditures after December 31, 2021 will no longer be immediately tax deductible. Instead, businesses are subject to mandatory capitalization of R&E expenses – now they must capitalize and amortize these expenditures over a period of either 5 or 15 years, depending where the research takes …
MANDATORY CAPITALIZATION OF R&E EXPENSES – THE IMPACT ON LIFE SCIENCES COMPANIES Read More »
It’s Busy Season Again – Hurricane Busy Season!
Wegmann Dazet Senior Manager Anita Zimmer, CPA, ABV, CFF gives some advice to business owners to be prepared: a hurricane busy season may lead to a business interruption claim. In the public accounting world, we refer to the period of February through April as busy season. With the lingering disturbance along the Gulf Coast …
PLANNING FOR THE SOLAR ENERGY INVESTMENT TAX CREDIT: IRS Construction deadlines and qualifying percentages
Solar energy Investment Tax Credit aside, solar energy is a popular choice for businesses looking to reduce their carbon footprint through alternative energy sources. In addition to supporting a company’s environmental, social, and governance (ESG) strategy, converting to solar energy potentially can lock-in lower energy rates. Our friends at BDO explain in this article …
Tech is Bringing Efficiencies to Back of House – Restaurant Update
From the drive-through speaker to QR code menus, restaurant patrons are familiar with technology that streamlines front of house restaurant operations. Recent years have seen increased focus on innovation at the back of house. Though not necessarily visible to the average customer, changes underway will have a profound impact on customer experience. Tech is bringing …
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Legislative Update! Louisiana Partnership Requirements
During the 2021 regular Louisiana Legislative Session, Act 287 was passed for new Louisiana partnership requirements, and Richard Tullier, CPA and Allison Civello, CPA provide this summary. This Act requires all partnerships doing business in Louisiana to file the LA Form IT-565 and thus requires all partnerships to obtain a Louisiana Revenue Account Number. …
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