4Thought Blog

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Top Tax Reform Business Opportunity: Tax Entity Structure

Posted by Jane Spradlin on Thu, Sep 19, 2019

Did you feel like your taxes were minimized last year? If not, it’s possible you may have missed out on some opportunities.

Federal tax reform through the Tax Cuts and Jobs Act provided some of the best tax benefits to businesses in more than 50 years. The corporate tax rate was slashed from the graduated maximum of 35% to a flat 21%.

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Topics: Business tax planning, 2017 Federal Tax Reform

Is it Time to Reconsider the Decision to Buy or Lease Equipment?

Posted by Michael Jacobson on Tue, Sep 10, 2019

Given the historically low interest rate environment in which we find ourselves, most business owners in capital intensive industries will be impelled to explore their options when it comes to obtaining new equipment.

Whether it’s best to use lease financing or purchase equipment outright depends on multiple factors including (but not limited to) the type of company and their competitors, industry performance, and the probability of a business sale in the coming years.

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Topics: Business tax planning

Top Tax Reform Business Opportunity: The Qualified Business Income Deduction

Posted by Jane Spradlin on Thu, Sep 5, 2019

Did you feel like your taxes were minimized last year? If not, it’s possible you may have missed out on some opportunities.

Federal tax reform through the Tax Cuts and Jobs Act provided some of the best tax benefits to businesses in more than 50 years. The corporate tax rate was slashed from the graduated maximum of 35% to a flat 21%.

Read More

Topics: Business tax planning, 2017 Federal Tax Reform

New Business Vehicles: How Much Companies Can Deduct in 2019

Posted by Concannon Miller on Thu, Aug 15, 2019

Does your business need to add one or more vehicles? If so, the purchases may qualify for tax breaks under current tax law. Here are the details.

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Topics: Business tax planning

Individual Coverage HRAs: Expanded Health Insurance Options for Employers

Posted by Concannon Miller on Thu, Aug 8, 2019

First the old news: Under the Affordable Care Act (ACA), employers with at least 50 employees (or full-time equivalents) are required to provide health benefits and pay for a good portion of the cost.

And many smaller employers that aren't required to offer health coverage do so anyway. Why? They may do it to compete successfully for talented employees in today's low unemployment environment or out of genuine concern for the well-being of their workers. What few employers like, however, is being in the time-consuming and complex business of selecting and administering health plans.

And here's the new news: That employer sentiment is why many may be tempted by a radical liberalization of regulations governing health reimbursement arrangements (HRAs), which kicks in next year. Chances are many employers will need some time to digest the 500-plus pages of new HRA rules, so they won't make any big changes immediately. But it's a good idea to be prepared for changes in buying individual health coverage.

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Topics: Business tax planning, Business consulting

One Year Later, Effects of Wayfair Still Unraveling

Posted by Matthew Dyment, Aftab Jamil, Eric Fader and Steve Oldroyd on Tue, Aug 6, 2019

The impact of the U.S. Supreme Court’s decision in South Dakota v. Wayfair, now over a year since it was handed down, continues to reverberate throughout the business world. As the year wears on, it’s clear the decision carries implications for industries beyond retail and, indeed, for the very basic functions of any business with multi-state operations. Not understanding these implications can have significant financial consequences—failure to collect sales taxes on remote sales can result in significant tax assessments for the seller.

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Topics: Business tax planning, Manufacturing, Multi-state taxation

Tips on Reducing Social Security and Medicare Taxes for Small Business Owners

Posted by Concannon Miller on Thu, May 30, 2019

If your small business is unincorporated, you may be fed up with paying the federal self-employment tax. This tax is how the federal government collects Social Security and Medicare taxes from self-employed individuals. However, you may be able to lower your exposure to these taxes if you structure your business as a subchapter S corporation for federal tax purposes. Here are the details on how this tax-saving strategy can work.

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Topics: Business tax planning, Business consulting

Tax Reform & Business Travel Deductions: Learn What’s Changed, What’s Stayed the Same

Posted by Jane Spradlin on Tue, Apr 30, 2019

Tax reform through the federal Tax Cuts and Jobs Act created a ton of new tax rules for business owners. So many in fact the IRS in January just released some final regulations on key parts of the act, more than a year after it was enacted.

While there are a lot of tax changes to learn, there is some good news for business owners: Some business tax provisions remained the same or largely so, including business travel deductions.

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Topics: Business tax planning, 2017 Federal Tax Reform

2018 Tax Season: Businesses that Planned Reaped Rewards

Posted by Andrew Desiderio on Tue, Apr 16, 2019

Tax season 2018 has come and gone. Being the first following the enactment of the sweeping Tax Cuts and Jobs Act, it was one for the accounting history books.

Here’s a few things we learned:

  • This act may be the exact opposite of tax simplification.
  • Sure, the new 1040 is postcard sized … if you don’t count the six new schedules.
  • And you can never drink enough coffee.


While complicated, the Tax Cuts and Jobs Act provided a lot of new tax benefits to businesses, especially those that conducted tax projections and planning.

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Topics: Business tax planning, 2017 Federal Tax Reform

Lower Your 2018 Business Taxes: 5 Last-Minute Strategies

Posted by Concannon Miller on Tue, Mar 26, 2019

Most businesses will owe less tax for the 2018 tax year than they would have under prior law, thanks to changes brought by the Tax Cuts and Jobs Act. But have you done everything possible to lower your business tax bill for last year?

Even though 2018 is in your review mirror, there are some possibilities for business owners to consider if your return for the last tax year hasn't been prepared yet.

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Topics: Business tax planning, 2017 Federal Tax Reform

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