Bennett Thrasher LLP, one of the top 100, full-service public accounting and consulting firms in the country, announced today the formation of a new practice group: Value Acceleration and Exit Planning Services, providing comprehensive exit planning consulting that includes valuation, corporate tax, personal tax, wealth advisory, transaction advisory, audit and assurance consulting, and operational support for business owners planning to transition out of their businesses.
The Tax Cuts and Jobs Act (“TCJA”) of December 2017 makes several significant changes to the deduction for meals and entertainment related to a taxpayer’s business.
Nationwide, 4.1 million Americans pay more than $10,000 each in property taxes alone, according to ATTOM Data Solutions. The itemized deductions of many taxpayers stand to be severely limited with the new $10,000 cap on state and local taxes enacted as part of tax reform in December of 2017, especially if multiple personal real properties are owned.
In a recent article published in Accounting Today, James Pickett and James Parks provide insight on how businesses of all sizes are looking for guidance following the major changes to the Tax Cuts and Jobs Act. Pickett and Parks explain the reason for the most significant tax legislation in 30 years.
On April 24, 2018, Bennett Thrasher’s Women’s Leadership and Development Committee, with support from the Diversity and Inclusion Committee, hosted an informational and inspirational event for all associates, with guest speaker Nancy Juneau, CEO of Juneau Construction.
On December 22, 2017, President Donald Trump signed the Tax Cuts and Jobs Act (“TCJA”) into law. It is the most comprehensive tax reform seen in the United States since President Ronald Reagan’s 1986 Tax Reform Act.
Included in the Tax Cuts and Jobs Act, signed into law in December 2017, is a new tax planning technique for deferring gains from sales. By investing in Qualified Opportunity Funds, taxpayers can defer (and potentially partially avoid) gain recognition on the sale of any property.
Bennett Thrasher is proud to have assisted in creating an updated version of the DFK Transfer Pricing Handbook that was released recently. Ben Miller, BT Partner and DFK International Tax Committee Vice-Chair for Transfer Pricing, and the Bennett Thrasher TP team led the effort the update the Transfer Pricing Handbook, which involved collaboration with over 30 DFK member firms.
ASC 606, the long awaited and much debated new accounting standard for revenue recognition in the United States has now become reality for most public companies. Adoption of this new standard was required for calendar year public companies effective January 1, 2018, and the results of adoption have now become public with the earnings releases and 10-Q filings for the first quarter ending March 31, 2018.
Bennett Thrasher LLP is proud to announce the Daily Report has named it “Best Of 2018” in nine categories. Bennett Thrasher won in the category for Best Full-Service Accounting firm for the seventh consecutive year and in the category for Best Forensic Accounting Firm for the fifth consecutive year.
There is a letter for you. The return address looks ominous – as the first line reads: Internal Revenue Service. You opened it. Your worst fears were confirmed. It is the dreaded notice that your individual income tax return is under audit or, to put it in the language used by the IRS, “your return has been selected for examination.”
ASC 606, the long awaited and much debated new accounting standard for revenue recognition in the United States has now become reality for most public companies. Adoption of this new standard was required for calendar-year public companies effective January 1, 2018, and the results of adoption have now become public with the earnings releases and 10-Q filings for the first quarter ending March 31, 2018.