Construction Success Story: Contractor considers ways to raise his company’s profile

A small custom homebuilder in a growing suburban area was maintaining a modest stream of business. He had enough jobs to keep his crew busy, but not enough to expand. Nearly all of his projects came through referrals from former customers, who recommended his company to their friends and neighbors.

Don’t lose your charitable tax deduction on use restrictions

When taxpayers contribute property to charitable institutions, they generally follow up by claiming a charitable deduction on their tax returns. But that deduction isn’t a given — you must comply with the IRS’s strict requirements.

Paying for LTC insurance with your life insurance policy

At least 70% of people over the age of 65 will require some level of long-term care service, according to insurance company Genworth Financial’s 2016 Cost of Care Survey.

When can our small business sign up for SHOP coverage?

Question: We’re a small employer and would like to make health coverage available to our employees through the Small Business Health Options Program (SHOP). Is there a specific time of the year when we must sign up for this coverage?

Not so fast! Federal court denies real estate agent's rental loss deduction

The IRS generally considers rental real estate investments as passive activities, meaning taxpayers can use any related losses only to offset income from passive investments. The tax code does grant an exception for rental activity losses incurred by real estate professionals, but it’s not enough just to qualify as a real estate professional.

Beware of the “kiddie tax” trap

Making gifts to children and grandchildren is a strategy sometimes used to reduce taxes. Doing so may shift some of your income into a lower tax bracket and remove assets from your taxable estate.

General contractor focus

General contractors and subcontractors share a contractual relationship. But, as colleagues and partners engaged on projects in common, they also must relate to one another as people.

IRS extends information reporting deadline to individuals

Late last year, the IRS announced limited relief for required information reporting under the Affordable Care Act (ACA). The agency extended the deadline for furnishing Forms 1095-B and 1095-C to individuals for the 2016 tax year.

New law clears the way for small businesses to offer standalone HRAs

When President Obama signed into law the 21st Century Cures Act on December 13, 2016, most of the media coverage focused on the provisions related to medical innovation. But the law also includes some good news for small businesses that have been prohibited in recent years from providing their employees with Health Reimbursement Arrangements (HRAs).

Reforming health care reform: The ACA’s future

As of this writing, the future of the Affordable Care Act (ACA) is unclear. Employers should continue to comply as usual in the short term. But, in the longer term, you may have more options regarding how to run your health care plan.
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