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Valuable Tax Credits for Software and Technology Companies

Many Federal and Georgia tax credits are available to software and technology companies, though they are often overlooked and go unused. With proper planning and assessment, these credits can go a long way toward improving a company’s bottom line. Below is a summary of some of the more recognizable credits available. In the coming months we will delve into the details of each type of credit.... Read More

July/August Dates to Remember

July 17 Employers. For Social Security, Medicare, withheld income tax, and nonpayroll withholding, deposit the tax for payments in June if the monthly rule applies. July 31 Employers. For Social Security, Medicare, and withheld income tax, file Form 941 for the second quarter of 2017. Deposit any undeposited tax. If your tax liability is less than $2,500, you can pay it in full with a timely filed... Read More

HLB International Appoints New Member in Equatorial Guinea

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 Equatorial Guinea – BER Chartered Accountants. BER Chartered Accountants is based in Malabo, the capital of Equatorial Guinea. Established in 2010, the firm provides Tax Management Consulting Services, Internal Audit Services,... Read More

Calculating Retirement Needs

A staple in retirement planning is the search for “your number.” That is, how much money do you need to accumulate in savings and investment accounts so you can afford to stop working? Life expectancy is increasing, so the amount you have when you retire might have to last for decades. To find the number, you can start with a target for cash flow in retirement. Then determine how much you can... Read More

Do Well by Doing Good

The federal Small Business Administration reports that about 75% of small business owners donate some portion of their profits to charity each year. The average contribution is around 6% of earnings. Fulfilling philanthropic intentions has emotional rewards, and there can also be tangible benefits for your business. The more you align your charitable intentions with your own passions, the greater the... Read More

Taxable Versus Tax-Deferred Accounts

Some people do all of their investing in an employer-sponsored retirement plan where earnings are untaxed until withdrawn, and perhaps in an IRA as well. Withdrawals are generally taxed at ordinary income rates, which now go up to 39.6%. Conversely, others have taxable accounts as well; each year, income tax is due on investment interest, dividends, and net capital gains in these taxable accounts.... Read More

Valuable Tax Credits for Restaurants and Franchisors

Many Federal and Georgia tax credits are available to restaurants, franchisors, and caterers, though they are often overlooked and go unused. With proper planning and assessment, these credits can go a long way toward improving a business’s bottom line. Below is a summary of some of the more recognizable credits available. In the coming months we will delve into the details of each type of credit.... Read More

Real Estate Professional – Do You Qualify and How Can You Prove It?

The IRS defines passive activities as: 1. Trade or business activities in which you don’t materially participate during the year. 2. Rental activities, even if you do materially participate in them, unless you’re a real estate professional. The exception provided in the second definition is a tremendous tax advantage for individuals that meet the requirements of a real estate professional. This... Read More

Contractors & the Research and Development Tax Credit

The R&D Tax Credit is one of the most beneficial tax credits available to contractors. Made permanent with the passage of the Protecting Americans from Tax Hikes Act of 2015, this non-refundable credit is available to businesses of all sizes and is designed to encourage the development of innovative and enhanced products, processes, and software in the United States. As both a federal and a... Read More