TBC Information Network

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

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…]

Tax Updates and Planning for Businesses

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 Businesses: Review your accounting method Businesses typically use either an accrual method of accounting or… [keep reading…]

Energy Efficient Incentives for New Construction and Renovation

The Inflation Reduction Act of 2022 (IRA) updated and reinstated several notable credits and deductions related to Solar and Energy efficiency. Construction of new residential or commercial structures are ideal candidates for these tax savings but they do not preclude existing structures being renovated. Below are a few notable tax considerations. 179D Deduction 179D is… [keep reading…]

What Goes into Running a Smooth Board Meeting

It can be quite frustrating for board members if board meetings are not run smoothly and effectively.  Effectively utilizing the board’s time together is important to keep the board mission-focused and forward-thinking.  Wasted time at meetings could impact an organization negatively and financially. How a board meeting can be run smooth and effectively comes down… [keep reading…]

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