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    • Nov 16, 2018 | Cassady Schiller CPAs & Advisors

      Buy Business Assets before Year-End to Reduce Your...

      The Tax Cuts and Jobs Act (TCJA) has enhanced two depreciation-related breaks that are popular year-end tax planning tools for businesses. To take advantage of these breaks, you must purchase qualifying assets and place them in service by the end of the tax year. That means there’s still time to r…

    • Nov 16, 2018 | Cassady Schiller CPAs & Advisors

      It’s Not Too Late: You can Still Set up a Retire...

      If most of your money is tied up in your business, retirement can be a challenge. So if you haven’t already set up a tax-advantaged retirement plan, consider doing so this year. There’s still time to set one up and make contributions that will be deductible on your 2018 tax return!

      More benef…

    • Nov 16, 2018 | Cassady Schiller CPAs & Advisors

      Time for NQDC Plan Deferral Elections

      If you’re an executive or other key employee, your employer may offer you a nonqualified deferred compensation (NQDC) plan. As the name suggests, NQDC plans pay employees in the future for services currently performed. The plans allow deferral of the income tax associated with the compensation….

    • Brien Dulle
      Nov 14, 2018 | Brien Dulle

      Postcard 1040? Maybe Next Time

      We’ve all heard about the sweeping tax changes that have come with the Tax Cuts and Jobs Act. While planning to take the most advantage of the new law is by far the most important aspect of the law, all of these changes will also bring a change to reporting and a new look to the forms we’ve become…

    • Karen Keller
      Nov 14, 2018 | Karen Keller

      Compilation, Review or Audit: Select the Right Lev...

      The term “assurance” refers to how much confidence lenders and other stakeholders have that a company’s financial statements will be reliable, informative and in conformity with U.S. Generally Accepted Accounting Principles (GAAP) or another financial reporting framework. Higher levels of assu…

    • Nov 01, 2018 | Cassady Schiller CPAs & Advisors

      Donate Appreciated Stock for Twice the Tax Benefit...

      A tried-and-true year end tax strategy is to make charitable donations. As long as you itemize and your gift qualifies, you can claim a charitable deduction. But did you know that you can enjoy an additional tax benefit if you donate long-term appreciated stock instead of cash?

      2 benefits from 1…

    • Oct 31, 2018 | Cassady Schiller CPAs & Advisors

      Act Now to Cut Your 2018 Tax Bill

      The Tax Cuts and Jobs Act (TCJA) created more than 100 new tax provisions — a staggering thought as you begin to prepare for the next filing season. The good news is that these and some of the surviving provisions create a wealth of year-end planning opportunities.

      Choose the right approach to…

    • Oct 30, 2018 | Cassady Schiller CPAs & Advisors

      How Auditors Assess Risk when Preparing Financial...

      Every year, your audit firm will conduct a fresh risk assessment before the start of fieldwork. Why? Because your auditor wants to mitigate the risk of expressing an incorrect opinion regarding the accuracy and integrity of the company’s financial statements. Inadvertently signing off on financial…

    • Oct 29, 2018 | Cassady Schiller CPAs & Advisors

      Selling Your Business? Defer – and Possibly Redu...

      You’ve spent years building your company and now are ready to move on to something else, whether launching a new business, taking advantage of another career opportunity or retiring. Whatever your plans, you want to get the return from your business that you’ve earned from all of the time and mo…

    • Oct 28, 2018 | Cassady Schiller CPAs & Advisors

      Reduce Insurance Costs by Encouraging Employee Wel...

      Protecting your company through the purchase of various forms of insurance is a risk-management necessity. But just because you must buy coverage doesn’t mean you can’t manage the cost of doing so.

      Obviously, the safer your workplace, the less likely you’ll incur costly claims and high work…

    • Oct 27, 2018 | Cassady Schiller CPAs & Advisors

      Following the ABCs of Customer Assessment

      When a business is launched, its owners typically welcome every customer through the door with a sigh of relief. But after the company has established itself, those same owners might start looking at their buying constituency a little more critically.

      If your business has reached this point, regu…

    • Oct 26, 2018 | Cassady Schiller CPAs & Advisors

      Could “Bunching” Medical Expenses into 2018 Sa...

      Some of your medical expenses may be tax deductible, but only if you itemize deductions and have enough expenses to exceed the applicable floor for deductibility. With proper planning, you may be able to time controllable medical expenses to your tax advantage. The Tax Cuts and Jobs Act (TCJA) could…

    • Oct 25, 2018 | Cassady Schiller CPAs & Advisors

      IRS Proposed Regulations for Opportunity Zone Tax...

      The Tax Cuts and Jobs Act (TCJA) includes a provision that Secretary of the Treasury Steven Mnuchin said should lead to $100 billion in capital investments in distressed areas. The provision allows taxpayers to defer tax on capital gains by investing in such Opportunity Zones. And now the IRS has re…

    • Oct 19, 2018 | Cassady Schiller CPAs & Advisors

      Year-End Tax Planning for Businesses in the New Ta...

      The passage of the Tax Cuts and Jobs Act (TCJA) in late 2017 brought significant changes to the tax landscape. As the first tax season under the law looms on the horizon, new year-end tax planning strategies are emerging. Meanwhile, some of the old tried-and-true strategies have changed and others…

    • Oct 19, 2018 | Cassady Schiller CPAs & Advisors

      Consider All the Tax Consequences Before Making Gi...

      Many people choose to pass assets to the next generation during life, whether to reduce the size of their taxable estate, to help out family members or simply to see their loved ones enjoy the gifts. If you’re considering lifetime gifts, be aware that which assets you give can produce substantial…

    • Oct 18, 2018 | Cassady Schiller CPAs & Advisors

      Audit Opinions: How Your Financial Statements Meas...

      Audit opinions differ depending on the information available, financial viability, errors discovered during audit procedures and other limiting factors. The type of opinion your auditor issues tells stakeholders whether you’re in compliance with accounting rules and likely to continue operating a…

    • Lydia Ritze
      Oct 17, 2018 | Lydia Ritze

      Independent or employed – Understanding the...

      With the rise of independent contractors in the new, shared economy, distinctions between employees and contractors are increasingly blurred. The tax implications of misclassification can be significant, and the IRS, the U.S. Department of Labor (DOL) and even some states are weighing in on employee…

    • Nathan Oswald
      Oct 17, 2018 | Nathan Oswald

      Cash is King – Even in Fraud Schemes

      It’s probably no surprise that cash is the most popular target of fraudsters — after all, once stolen, cash itself is virtually untraceable. But that doesn’t mean forensic experts can’t unearth cash fraud schemes and the perpetrators behind them.

      Identifying Cash Traps

      How do thieves g…

    • Emily Schwarz
      Oct 17, 2018 | Emily Schwarz

      Don’t Wait Until It’s Too Late to Gift Your Wa...

      There have been a lot of articles written this year about maximizing your tax benefits around charitable gifting, and while we encourage you to read them and discuss different strategies with your tax advisor to see what works best for you, this is more of a grasshopper and the ant story. For those…

    • Oct 11, 2018 | Cassady Schiller CPAs & Advisors

      529 Plans Offer Two Tax-Advantaged Education Fundi...

      Section 529 plans are a popular education-funding tool because of tax and other benefits. Two types are available: 1) prepaid tuition plans, and 2) savings plans. And one of these plans got even better under the Tax Cuts and Jobs Act (TCJA).Enjoy valuable benefits529 plans provide a tax-advantaged…