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Valuable Tax Credits Available to Contractors

Many Federal and Georgia tax credits are available to contractors, though they are often overlooked and go unused. With proper planning and assessment, these credits can go a long way toward improving a contractor’s bottom line. Following 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. Research &... Read More

HLB Vorarlberg joins HLB International as part of the HLB Austria Federation

HLB Vorarlberg GmbH Steuerberatung und Wirtschaftsprüfung (HLB Vorarlberg) joins HLB International as part of the HLB Austrian federation of independently owned CPA and business advisory firms. The HLB Vorarlberg professional team, headquartered in Feldkirch (Vorarlberg), is one of the leading advisory firms in Vorarlberg and has been serving businesses and individuals since 1991. The firm provides... Read More

Wealth Management is a Re-Balancing Act

Studies indicate that savvy asset allocation may lead to long-term investment success. Individuals can find a desired mix of riskier asset classes, such as stocks, and relatively lower risk asset classes, such as bonds. Sticking with a chosen strategy might deliver acceptable returns from the volatile assets, as well as fewer fluctuations along the way from the stable assets. An asset allocation could... Read More

May/June Dates to Remember

May/June 2017 Deadlines MAY 2017 May 10 Employers. For Social Security, Medicare, and withheld income tax, file Form 941 for the first quarter of 2017. This due date applies only if you deposited the tax for the quarter in full and on time. May 15 Employers. For Social Security, Medicare, withheld income tax, and nonpayroll withholding, deposit the tax for payments in April if the monthly rule applies.... Read More

Social Security for Married Couples is a Numbers Crunching Game

Recent legislation has reduced Social Security claiming strategies for married couples. For example, if you failed to initiate a “file-and-suspend” plan before April 30, 2016, that opportunity is no longer available. Still available Another popular approach for married couples—filing restricted applications for spousal benefits—is still viable, but only for those who reached age 62 on or before... Read More

Retirement Plans for Small Business Owners: SIMPLE may be better

In 2017, if a company sponsors a profit-sharing plan, the company could make a contribution on behalf of the business owner of as much as $54,000 . With a SIMPLE IRA, the maximum amount this year is $31,000. If that’s the case, why would you consider the latter choice? One reason can be found in the plan’s name; a SIMPLE (savings incentive match plan for employees) IRA has less paperwork as well as... Read More

ESOPs as a Retirement Plan

Among the retirement plans that small businesses can offer to their workers are employee stock ownership plans (ESOPs). As the title indicates, an ESOP is a process for transferring ownership of the company to employees. How does that work as a retirement plan? In some ways, an ESOP is similar to a profit-sharing plan (see the CPA Client Bulletin, January 2017), in which the company makes cash... Read More

Deciding on a Vacation Home

Whether you live in the thawing North or in the always mild South, the onset of spring leads to thoughts of summer vacations. After all, next month will be May, which includes Memorial Day, often considered the unofficial beginning of weekend and week-long getaways. At this time, you might be weighing the purchase of a second home specifically for vacations. Here are some of the issues to think about, so... Read More

Upcoming Deadlines and Dates To Remember

April/May 2017 Upcoming Deadlines April 18 Individuals. File a 2016 income tax return. If you want an automatic six-month extension of time to file the return, file Form 4868, Application for Automatic Extension of Time To File U.S. Individual Income Tax Return. Then, file Form 1040, 1040A, or 1040EZ by October 16. If you are not paying your 2016 income tax through withholding (or will not pay in enough tax... Read More