TBC Information Network

Teal, Becker & Chiaramonte offering valuable insights, impressions and commentary on today’s financial and business world.

Common Board Governance Mistakes

Board governance can directly impact how effective and successful a nonprofit organization can become. Governance relates to fulfilling the nonprofit’s mission as well as ensuring its sustainability. Whether you’re a long-standing member or newly elected, it can be easy to succumb to common mistakes that occur through governing a nonprofit. Below are a few common… [keep reading…]

Additional ERC Considerations for Auto Dealerships

The Employee Retention Credit (ERC) is one of the most powerful tax incentive programs available to businesses that we have ever seen (or will likely ever see again). The ERC has provided billions of dollars of much needed relief to thousands of businesses across the country that were impacted by the pandemic. While auto dealerships… [keep reading…]

6 Things You Can Accomplish with an Estate Plan

If you haven’t set up an estate plan yet, there is no time like the present to get started! Estate planning is the process of planning how your assets will be handled after you pass away or become incapacitated. It typically involves discussing your specific goals with an estate planning attorney who can tailor a… [keep reading…]

Seeing the Big Picture with Your Business Exit

By: Stephen L. Ferraro, CPA/ABV/CFF, CEBC, MAFF, CVA Partner, Ferraro, Amodio & Zarecki CPAs The success of exiting a business depends greatly upon the mental perspective and preparation of an owner during the exit process. Business owners tend to fixate their thoughts only on running and growing their business.  However, there is a tremendous amount… [keep reading…]

Solar Savings: How Being Environmentally Friendly Pays

The federal government offers an Investment Tax credit (ITC) for commercial solar photovoltaics (PV). For businesses, this credit is filed on IRS form 3468. The solar energy credit is a tax credit that can be claimed on federal income for a percentage of the cost of a solar PV system paid for by the taxpayer…. [keep reading…]

Tax Updates and Planning for Individuals

With tax year 2022 coming to a close, we need to consider what can be done to help lower your tax bill for this year and next. With the uncertainty of pending legislation, here are some tax planning ideas for Individuals: Annual gift exclusion and Estate Tax Exemption The annual gift exclusion for 2022 is… [keep reading…]

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