Is a PTET Election Right for Your Construction Company?
Businesses structured as partnerships, S corporations or limited liability companies generally aren't subject to the federal corporate income tax. This is because tax liability "passes through" such entities to each business partner's individual level. If…
- Kirsch CPA Group
- Dec 05, 2024
The IRS Issues Final Regs for the Advanced Manufacturing Production Credit
The IRS has published final regulations for the Section 45X advanced manufacturing production credit. The final regs update several significant areas from the proposed regs released in late 2023. The Credit in a Nutshell…
- Kirsch CPA Group
- Dec 03, 2024
Should Your Nonprofit Consider Using Fund Accounting?
Depending on the nature of your not-for-profit organization, there's more than one accounting method to follow. One option is fund accounting, which promotes transparency and can help nonprofits fulfill donor commitments. Fund accounting involves segregating…
- Kirsch CPA Group
- Nov 25, 2024
Refresher on First-Year Section 179 Depreciation Deductions
Internal Revenue Code Section 179 potentially allows significant first-year depreciation deductions when your business places qualifying assets into service. You generally want to maximize current year depreciation write-offs for newly acquired business assets. However, the…
- Kirsch CPA Group
- Nov 20, 2024
Company Holiday Parties: Celebrate the Tax Breaks
Are the costs of holiday parties tax deductible? Despite a recent crackdown on business entertainment expense deductions, your company's holiday bash may still qualify for write-offs for the 2024 tax year. You might even be…
- Kirsch CPA Group
- Nov 15, 2024
7 Tax Breaks for Business Buildings
Businesses are returning to their regular work premises in droves. About 65% of U.S. businesses expect to implement return-to-office policies by the end of 2024, in either a full-time or hybrid capacity, according to Resume…
- Kirsch CPA Group
- Nov 06, 2024
How To Handle the Changes to R&E Tax Treatment
The Tax Cuts and Jobs Act (TCJA) included a significant — but delayed — change to the tax treatment of research and experimentation (R&E) expenses under Internal Revenue Code (IRC) Section 174. To the surprise…
- Kirsch CPA Group
- Nov 05, 2024
Preserve Your Business Legacy with Proactive Succession Planning
Running a business requires a lot of hard work. As a business owner, you may be so focused on managing day-to-day operations and pursuing growth opportunities that you put succession planning on the back burner.…
- Kirsch CPA Group
- Nov 04, 2024
Can Marketability Discounts Apply When Valuing Controlling Business Interests?
Discounts for lack of marketability are well established when valuing minority interests in closely held businesses. But many valuation experts believe that controlling business interests also warrant a marketability discount to reflect the uncertainty and…
- Kirsch CPA Group
- Oct 29, 2024
Kirsch CPA Group Named to INSIDE Public Accounting’s “Best of the Best”
A focus on operational and financial excellence Hamilton, Ohio – Oct. 29, 2024 – INSIDE Public Accounting (IPA) has named Kirsch CPA Group a “Best of the Best” CPA firm for 2024, an annual ranking…
- Diane Glover
- Oct 29, 2024