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Melissa Motley, CPA

Melissa Motley has worked in the field of accounting for more than 25 years. She specializes in audit and accounting work with an emphasis in governmental audit.

Recent Posts

Using Your Home-field Advantage

Posted by Melissa Motley, CPA on Apr 07, 2018

 

Is paying down your mortgage a smart move?

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Posted in Individual Tax Planning

Favorable Tax Treatment for Medical Expenses

Posted by Melissa Motley, CPA on Mar 02, 2018

New law creates retroactive tax break

The Tax Cuts and Jobs Act (TCJA) repeals or cuts back many deductions on personal returns (see “Last Chance for Key Tax Deductions”), but the medical expense deduction survived the chopping block. In fact, the new law temporarily enhances the deduction, retroactive to the 2017 tax year. In other words, you can benefit from this tax-favored treatment on the 2017 return you file in 2018.

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Posted in Individual Tax

Your 2017 Tax Return May Be Your Last Chance To Take The “Manufacturers’ Deduction”

Posted by Melissa Motley, CPA on Jan 18, 2018

While many provisions of the Tax Cuts and Jobs Act (TCJA) will save businesses tax, the new law also reduces or eliminates some tax breaks for businesses. One break it eliminates is the Section 199 deduction, commonly referred to as the “manufacturers’ deduction.” When it’s available, this potentially valuable tax break can be claimed by many types of businesses beyond just manufacturing companies. Under the TCJA, 2017 is the last tax year noncorporate taxpayers can take the deduction (2018 for C corporation taxpayers).

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Posted in Business Tax

Reduce Your 2017 Tax Bill By Buying Business Assets

Posted by Melissa Motley, CPA on Nov 30, 2017

Two valuable depreciation-related tax breaks can potentially reduce your 2017 taxes if you acquire and place in service qualifying assets by the end of the tax year. Tax reform could enhance these breaks, so you’ll want to keep an eye on legislative developments as you plan your asset purchases.

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Posted in Business Tax

Research Credit Can Offset a Small Business's Payroll Taxes

Posted by Melissa Motley, CPA on Oct 30, 2017

Does your small business engage in qualified research activities? If so, you may be eligible for a research tax credit that you can use to offset your federal payroll tax bill.

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Posted in Business Tax

2 Ways Spouse-owned Businesses Can Reduce Their Self-employment Tax Bill

Posted by Melissa Motley, CPA on Sep 26, 2017

If you own a profitable, unincorporated business with your spouse, you probably find the high self-employment (SE) tax bills burdensome. An unincorporated business in which both spouses are active is typically treated by the IRS as a partnership owned 50/50 by the spouses. (For simplicity, when we refer to “partnerships,” we’ll include in our definition limited liability companies that are treated as partnerships for federal tax purposes.)

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Posted in Business Advisory

Put Your Audit In Reverse To Save Sales and Use Tax

Posted by Melissa Motley, CPA on Aug 16, 2017

It’s a safe bet that state tax authorities will let you know if you haven’t paid enough sales and use taxes, but what are the odds that you’ll be notified if you’ve paid too much? The chances are slim — so slim that many businesses use reverse audits to find overpayments so they can seek refunds.

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Posted in Tax Planning

Are You Benefitting From Expenses Related to Your Company Parties?

Posted by Melissa Motley, CPA on Jul 07, 2017

Take Advantage of Tax Deductions for Company Events

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Posted in Business Tax

Make Tax Plans for Vacation Home Rental

Posted by Melissa Motley, CPA on Mar 30, 2017

How to maximize the tax benefits

The summer rental season is about to kick off. If you own a vacation home in a resort area that you rent out while your family is not using it, you may be in line for valuable tax deductions. In fact, you might even qualify for a tax loss on the deal, but you must be careful to observe the complex tax rules.

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Posted in Individual Tax

Grading the Manufacturing Sector in 2016—Pass or Fail?

Posted by Melissa Motley, CPA on Feb 13, 2017

There’s little doubt that the economy as a whole closed out 2016 on a particularly high note as the Dow Jones Industrial Average nearly reached the unprecedented 20,000 mark. But despite that broad performance, did the manufacturing sector in particular fare similarly well during this past year?

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Posted in Manufacturing Industry Insights

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