Silver Advantage Alerts
Keeping You Informed
We strive to keep you abreast of the latest news and emerging trends that may impact your business decisions through MichaelSilver’s Silver Advantage Alerts. Explore the latest finance and industry updates below and sign up to receive our alerts directly in your inbox.
The 2021 tax returns filing season has officially begun! This year we are enhancing your experience with our exceptional client services by utilizing advanced automation technology called SafeSend Returns.
Great news for commercial building owners: the Section 179D Energy Policy Act tax deduction was made permanent as part of the Consolidated Appropriations Act of 2021. This change enables business owners and government contractors, including healthcare property owners to take advantage of a perpetual tax incentive for energy-saving improvements.
Compensation is defined in two basic ways.
1. Making up for someone’s loss or damage by giving the injured party an appropriate benefit. Examples include: payment of a workman’s compensation claim, or giving a raise to an employee to offset the negative feelings from being passed over for promotion.
2. Rewarding someone for services such as wages and benefits paid to an employee.
This article primarily addresses the second meaning.
Our Client Accounting Services group at MichaelSilver is excited to kick off the New Year by taking the first steps into our 2022 tax season as we tackle 1099 preparation!
As we approach the final weeks of the year, there is a new and important tax planning opportunity to consider for your Partnership and/or S-corporation business, the timing, and deductibility of pass-through entity state income tax payments.
On November 19th, the House passed the roughly $2 trillion Build Back Better Act. The bill includes income tax changes, expansion of current tax credits, support for health care, and measures to battle climate change.
As we approach the final weeks of the year, there is still time to minimize your 2021 tax liability and get a jump start on your 2022 tax planning. This year likely brought challenges and disruptions that significantly impacted your personal and financial situation – a continued global pandemic, several significant natural disasters, new tax laws, and political shifts.
As another tax year comes to a close, it is time to consider your tax planning opportunities and year-end tasks.
Owning a business and being your own boss can be personally and financially rewarding. Taking a strategic approach to acquiring a business will increase the probability to success.