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Tax on Tenant Improvements

Leasehold improvements, commonly referred to as tenant improvements, are structural modifications or permanent fixtures placed in the interior of a rented space. Examples include changes made to ceilings, flooring, and interior walls. Alterations to the exterior of the building or modifications that benefit other tenants, such as new roof, upgraded elevators, and repaved walkways, are not... Read More

Recognized by IPA for Highest Percentage of Female Owners

HLB Gross Collins, P.C. has been recognized by Inside Public Accounting for defying a trend within the profession and having one of the highest percentages of female owners among the largest accounting firms in the nation. IPA is recognizing 30 firms across the country for doing things differently and changing the profession for the better. HLB Gross Collins, P.C. is recognized as being top 30 within the top 300... Read More

All of Georgia Now Eligible for Disaster Tax Relief

Hurricane Irma victims in the entire state of Georgia now have until Jan. 31, 2018, to file certain individual and business tax returns and make certain tax payments, the Internal Revenue Service announced today. This includes an additional filing extension for taxpayers with valid extensions that run out on Oct. 16, and businesses with extensions that ran out on Sept. 15. It parallels relief previously... Read More

HLB International Appoints New Member in Palestinian Ruled Territories

HLB International, one of the leading global accountancy networks with presence in 140 countries, continues its growth with the recent signing of a new member firm in Palestinian Ruled Territories – Palestia. Palestia is based in Ramallah, a Palestinian city in the central West Bank, north of Jerusalem. Established in 2001, the firm provides services in the fields of Audit, Bookkeeping & Accounting,... Read More

The Georgia Retraining Tax Credit

Is your construction company investing in employees through means such as new equipment, new software, or new technology? If so, your company may be eligible for the Georgia Retraining Tax Credit. The purpose of this credit is to encourage employers to continuously invest in their employees via the very means mentioned above – upgrading equipment, acquiring new technology, and even completing ISO 9000... Read More

A Health Checklist for your Benefit Plan

As we are approaching the end of summer and the beginning of fall planning, have you considered the health of your employee benefit plan in your list of to-do’s? A study published by Fidelity Investments entitled 2017 Plan Sponsor Attitudes, showed that approximately 40% of companies in North America are not confident in their understanding of plan fiduciary responsibilities. However, a continued rise in... Read More

IRS Guidance for Those Affected by Natural Disasters

For September’s National Preparedness Month, the Internal Revenue Service is offering advice to taxpayers who may be affected by storms, fires, floods or other disasters. After the devastation of Hurricane Harvey and with Hurricane Irma threatening parts of the U.S. and Caribbean, the IRS reminds taxpayers that the agency is here to help, including offering a special toll-free number to taxpayers in... Read More

The R&D Credit for Small Businesses

Just as individuals get a dollar-for-dollar tax savings from tax credits, the same is true for businesses that qualify for tax credits. The Protecting Americans from Tax Hikes (PATH) Act of 2015, passed in 2016, expanded the ability of small companies to use the research and development (R&D) tax credit. The R&D credit is based not on the total amount a business spends on R&D, but on... Read More

September/October Dates to Remember

September 15 Individuals. If you are not paying your 2017 income tax through withholding (or will not pay in enough tax during the year that way), pay the third installment of your 2017 estimated tax. Use Form 1040-ES. Employers. For Social Security, Medicare, withheld income tax, and nonpayroll withholding, deposit the tax for payments in August if the monthly rule applies. Corporations. Deposit the third... Read More