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Tax Opportunity Zones

Qualified Tax Opportunity Zones Overview The Tax Cuts and Jobs Act introduced IRC §1400Z-2 Special Rules for Capital Gains Invested in Opportunity Zones. This section allows a taxpayer to elect to defer or exclude from gross income gain on the sale or exchange of any property to an unrelated party in the tax year of the sale or exchange if the gain is reinvested in a qualified opportunity zone... Read More

Jeff Plank Talks Profit Enhancement, Tech Start-ups, Mindshop and More

Click here to listen to the full podcast interview with Pro Business Channel. Jeff has been with HLB Gross Collins for 14 years and is their Director of Consulting Services. HLB Gross Collins is a full service Certified Public Accounting and Consulting firm provides traditional accounting & audit services and specialized technical guidance for international tax, estate, and business... Read More

Choosing the Right Entity Type for Construction Contractors

Choosing the Right Entity Type for Construction Contractors Choosing the right entity structure for your construction company depends on many aspects and factors of your business. One of the main concerns for any business is personal liability. Although no entity structure can guarantee exemption from all liabilities, there are ways to protect yourself and your business, based on your company’s needs.... Read More

August/September Dates to Remember

August 10 Employers. For Social Security, Medicare, and withheld income tax, file Form 941 for the second quarter of 2018. This due date applies only if you deposited the tax for the quarter in full and on time. August 15 Employers. For Social Security, Medicare, withheld income tax, and nonpayroll withholding, deposit the tax for payments in July if the monthly rule applies. September... Read More

Education as a Small Business Fringe Benefit

The Tax Cuts and Jobs Act of 2017 dramatically reduced taxpayers’ ability to itemize deductions. Among the tax deduction opportunities that have vanished, from 2018–2025, are miscellaneous itemized deductions that exceed 2% of the taxpayer’s gross income. Such deductions included unreimbursed employee business expenses. Drilling down, those no-longer-deductible employee expenses included... Read More

The Forever G.I. Bill

When you think of the G.I. Bill, you probably recall reading about a program designed to help military veterans receive college educations after they left the armed forces following World War II. Somewhat less known is that the G.I. Bill has endured, in various forms, until present times. Last year, the Harry W. Colmery Veterans Education Assistance Act of 2017 became law, named for the American Legion member... Read More

Youth Movement: 529 Plans for Elementary and Secondary Education

For many years, 529 college savings plans have offered a tax-favored way to save for higher education. These plans, officially qualified tuition programs, are named for the IRC section that provides their advantages. In brief, 529 plans are funded with after-tax dollars. In college savings plans, account owners choose from a menu of investments, and any earnings are untaxed. Distributions are also tax-free if... Read More

Jeff Plank at the Warrior Alliance

Through Jeff Plank’s involvement in Bunker Labs, he recently attended the Warrior Alliance strategic summit at the Arthur M. Blank Family Foundation West Creek Ranch. Jeff was a part of the leadership team that opened up an Atlanta office of Bunker Labs and he has been actively involved in the organization for over a year. Jeff was selected to attend the invitation only summit in Montana.... Read More

HLB Hosts Annual Audit & Tax Conference in Frankfurt, Germany

HLB the global advisory and accounting network with presence in 150 countries, hosts annual audit & tax conference in Frankfurt - Germany, bringing together 215 professionals from 37 countries. The conference addressed how to inspire leaders in a multigenerational world and featured presentations which highlighted the challenges today’s leaders face while working in this new environment, including... Read More