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    • Cassady Schiller CPAs & Advisors
      Feb 27, 2019 | Cassady Schiller CPAs & Advisors

      Beware the Ides of March – If You Own a Pass-Thr...

      Shakespeare’s words don’t apply just to Julius Caesar; they also apply to calendar-year partnerships, S corporations and limited liability companies (LLCs) treated as partnerships or S corporations for tax purposes. Why? The Ides of March, more commonly known as March 15, is the federal income…

    • Cassady Schiller CPAs & Advisors
      Feb 27, 2019 | Cassady Schiller CPAs & Advisors

      Careful Tax Planning Required for Incentive Stock...

      Incentive stock options (ISOs) are a popular form of compensation for executives and other employees of corporations. They allow you to buy company stock in the future at a fixed price equal to or greater than the stock’s fair market value on the ISO grant date. If the stock appreciates, you can…

    • Cassady Schiller CPAs & Advisors
      Feb 26, 2019 | Cassady Schiller CPAs & Advisors

      How to Report Stock Compensation Paid to Nonemploy...

      The accounting rules for reporting stock compensation have been expanded. They now include share-based payments to nonemployees for providing goods and services, under recent guidance issued by the Financial Accounting Standards Board (FASB).Old rulesUnder existing U.S. Generally Accepted Accountin…

    • Cassady Schiller CPAs & Advisors
      Feb 25, 2019 | Cassady Schiller CPAs & Advisors

      Some of Your Deductions May be Smaller (or Nonexis...

      While the Tax Cuts and Jobs Act (TCJA) reduces most income tax rates and expands some tax breaks, it limits or eliminates several itemized deductions that have been valuable to many individual taxpayers. Here are five deductions you may see shrink or disappear when you file your 2018 income tax ret…

    • Cassady Schiller CPAs & Advisors
      Feb 25, 2019 | Cassady Schiller CPAs & Advisors

      The Home Office Deduction: Actual Expenses vs. The...

      If you run your business from your home or perform certain functions at home that are related to your business, you might be able to claim a home office deduction against your business income on your 2018 income tax return. Thanks to a tax law change back in 2013, there are now two methods for clai…

    • Cassady Schiller CPAs & Advisors
      Feb 14, 2019 | Cassady Schiller CPAs & Advisors

      Three Big TCJA Changes Affecting 2018 Individual T...

      When you file your 2018 income tax return, you’ll likely find that some big tax law changes affect you — besides the much-discussed tax rate cuts and reduced itemized deductions. For 2018 through 2025, the Tax Cuts and Jobs Act (TCJA) makes significant changes to personal exemptions, standard d…

    • Cassady Schiller CPAs & Advisors
      Feb 14, 2019 | Cassady Schiller CPAs & Advisors

      Best Practices When Filing a Business Interruption...

      Many companies, especially those that operate in areas prone to natural disasters, should consider business interruption insurance. Unlike a commercial property policy, which may cover certain repairs of damaged property, this coverage generally provides the cash flow to cover revenues lost and exp…

    • Cassady Schiller CPAs & Advisors
      Feb 12, 2019 | Cassady Schiller CPAs & Advisors

      Public Companies to Disclose Stock Hedging Policie...

      Does your company have policies in place regarding the use of hedging transactions by company insiders? Final Securities and Exchange Commission (SEC) guidance will soon require public companies to disclose whether their officers, employees and directors are allowed to offset a decrease in the mark…

    • Cassady Schiller CPAs & Advisors
      Feb 08, 2019 | Cassady Schiller CPAs & Advisors

      Fundamental Tax Truths for C Corporations

      The flat 21% federal income tax rate for C corporations under the Tax Cuts and Jobs Act (TCJA) has been great news for these entities and their owners. But some fundamental tax truths for C corporations largely remain the same:C corporations are subject to double taxation. Double taxation occurs wh…

    • Cassady Schiller CPAs & Advisors
      Feb 05, 2019 | Cassady Schiller CPAs & Advisors

      Private Companies: Have You Implemented the New Re...

      Private companies that follow U.S. Generally Accepted Accounting Principles (GAAP) must comply with the landmark new revenue recognition standard in 2019. Many private company CFOs and controllers report that they still have significant work to do to meet the demands of the sweeping rules. If you h…

    • Cassady Schiller CPAs & Advisors
      Jan 31, 2019 | Cassady Schiller CPAs & Advisors

      Investment Interest Expense is Still Deductible, b...

      As you likely know by now, the Tax Cuts and Jobs Act (TCJA) reduced or eliminated many deductions for individuals. One itemized deduction the TCJA kept intact is for investment interest expense. This is interest on debt used to buy assets held for investment, such as margin debt used to buy securit…

    • Cassady Schiller CPAs & Advisors
      Jan 31, 2019 | Cassady Schiller CPAs & Advisors

      Evaluating Your Audit Committee

      Under the Sarbanes-Oxley Act, the audit committee — not management or the full board of directors — is directly responsible for appointing, compensating and overseeing external auditors. Periodically, it’s a good idea to assess the effectiveness of your audit committee by performing a self-ev…

    • Cassady Schiller CPAs & Advisors
      Jan 31, 2019 | Cassady Schiller CPAs & Advisors

      IRS Provides QBI Deduction Guidance in the Nick of...

      When President Trump signed into law the Tax Cuts and Jobs Act (TCJA) in December 2017, much was made of the dramatic cut in corporate tax rates. But the TCJA also includes a generous deduction for smaller businesses that operate as pass-through entities, with income that is “passed through” to…

    • Brad Schueler
      Jan 30, 2019 | Brad Schueler

      Market Returns are Rarely Average

      After a historically calm stock market in 2017, volatility returned in 2018.  In helping clients build financial plans, we start by understanding their goals and objectives.  Putting this information together, along with your personal risk tolerance, helps us arrive at our recommended allocation t…

    • Brian Stautberg
      Jan 30, 2019 | Brian Stautberg

      Avoid Penalties by Abiding by the NQDC Tax Rules

      Nonqualified deferred compensation (NQDC) plans pay executives at some time in the future for services to be currently performed. If you participate in such a plan, or your business offers one as an employee benefit, it’s critical for everyone involved to abide by the applicable tax rules. Of cour…

    • Cassady Schiller CPAs & Advisors
      Jan 25, 2019 | Cassady Schiller CPAs & Advisors

      Many Tax-Related Limits Affecting Businesses Incre...

      A variety of tax-related limits affecting businesses are annually indexed for inflation, and many have gone up for 2019. Here’s a look at some that may affect you and your business.Deductions

      Section 179 expensing:

      Limit: $1.02 million (up from $1 million)
      Phaseout: $2.55 million (up from $2.5…

    • Cassady Schiller CPAs & Advisors
      Jan 25, 2019 | Cassady Schiller CPAs & Advisors

      There’s Still Time to Get Substantiation for 201...

      If you’re like many Americans, letters from your favorite charities have been appearing in your mailbox in recent weeks acknowledging your 2018 year-end donations. But what happens if you haven’t received such a letter — can you still claim an itemized deduction for the gift on your 2018 inco…

    • Cassady Schiller CPAs & Advisors
      Jan 23, 2019 | Cassady Schiller CPAs & Advisors

      M&A Due Diligence: Don’t Accept Financial S...

      The M&A market was hot last year, and that momentum is expected to continue in 2019. Before acquiring another business, however, it’s important to do your homework. Conducting comprehensive due diligence can be a daunting task, especially if you’ve never negotiated a deal before. So, consider s…

    • Cassady Schiller CPAs & Advisors
      Jan 22, 2019 | Cassady Schiller CPAs & Advisors

      IRS Waives 2018 Underpayment Tax Penalties for Man...

      The IRS has some good news for certain taxpayers — it’s waiving underpayment penalties for those whose 2018 federal income tax withholding and estimated tax payments came in under their actual tax liabilities for the year. The waiver recognizes that the Tax Cuts and Jobs Act’s (TCJA’s) over…

    • Cassady Schiller CPAs & Advisors
      Jan 17, 2019 | Cassady Schiller CPAs & Advisors

      How do Profits and Cash Flow Differ?

      Business owners sometimes mistakenly equate profits with cash flow. Here’s how this can lead to surprises when managing day-to-day operations — and why many profitable companies experience cash shortages. Working capital Profits are closely related to taxable income. Reported at the bottom of y…