Auburn-Opelika (334) 887-7022 | Montgomery (334) 244-8900

Returning Value Blog

Nick Wheeler, CPA

Recent Posts

Advantages and Disadvantages of Claiming Big First-Year Real Estate Depreciation Deductions

Posted by Nick Wheeler, CPA on Jun 14, 2023

Your business may be able to claim big first-year depreciation tax deductions for eligible real estate expenditures rather than depreciate them over several years. But should you? It’s not as simple as it may seem.

Full Story

Posted in Business Tax

The Year Ahead in Hospitality: Embracing Opportunities, Mitigating Risk

Posted by Nick Wheeler, CPA on May 26, 2023

Three years after the onset of the coronavirus pandemic, the hospitality industry, like others, is still recovering. Though 2022 saw some significant growth with a public eager to travel for leisure, particularly to locations offering unique experiences, the pandemic has markedly changed business travel patterns and consumer behavior. An ongoing labor shortage and emerging competition from resort hospitality locations have further strained some hospitality markets still adapting to shifting consumer demands.

Full Story

Posted in Business Advisory

Choosing an Entity for Your Business? How About an S Corporation?

Posted by Nick Wheeler, CPA on Apr 07, 2023

If you’re starting a business with some partners and wondering what type of entity to form, an S corporation may be the most suitable form of business for your new venture. Here are some of the reasons why.

Full Story

Posted in Business Advisory

HUBZone Program: Still Available, Changes Coming

Posted by Nick Wheeler, CPA on Mar 24, 2023

In a nutshell, according to the SBA, the HUBZone program fuels small business growth in historically underutilized business zones. The idea is to award at least 3% of federal contract dollars to eligible companies each year.

Full Story

Posted in Business Advisory

Three Key Supply Chain Management Questions for 2023

Posted by Nick Wheeler, CPA on Mar 03, 2023

Manufacturers will continue to face supply chain headwinds in 2023, a cause for concern following a turbulent few years. Economic uncertainty, supply shortages, rising costs, and frustrated customers threaten to impede growth.

Full Story

Posted in Business Advisory

Common Accounting Pitfalls for Startups to Avoid

Posted by Nick Wheeler, CPA on Feb 09, 2023

Accounting is a critical element when launching a successful business venture. Unfortunately, it’s also an area where startups tend to make mistakes. Here are some common (and avoidable) errors that entrepreneurs should watch out for.

Full Story

Posted in Taxation

6 Steps to Becoming Sales and Use Tax Compliant

Posted by Nick Wheeler, CPA on Jan 10, 2023

Most U.S. states require businesses to collect and remit sales and use taxes even if the business has no in-state physical presence, only an economic presence within their state. Remote sellers, licensors of software, and other businesses that provide services or deliver their products to customers from a remote location must comply with state and local taxes.

Full Story

Posted in Taxation

Crypto's Wild Ride in 2022: Understanding What's at Stake

Posted by Nick Wheeler, CPA on Dec 06, 2022

What a difference a year makes. In 2021, cryptocurrency markets reached all-time highs. Broader institutional adoption continued with the likes of BlackRock, Fidelity, JPMorgan Chase, Morgan Stanley, Deutsche Bank, and Goldman Sachs investing in the space and offering their clients crypto assets. Interest in decentralized finance (DeFi) and non-fungible tokens (NFTs) was at an all-time high.

Full Story

Posted in Business Advisory

Computer Software Costs: How Does Your Business Deduct Them?

Posted by Nick Wheeler, CPA on Nov 15, 2022

These days, most businesses buy or lease computer software to use in their operations. Or perhaps your business develops computer software to use in your products or services or sells or leases software to others. In any of these situations, you should be aware of the complex rules that determine the tax treatment of the expenses of buying, leasing, or developing computer software.

Full Story

Posted in Business Tax

2023 Limits for Businesses That Have HSAs - Or Want to Establish Them

Posted by Nick Wheeler, CPA on Nov 08, 2022

No one needs to remind business owners that the cost of employee health care benefits keeps going up. One way to provide some of these benefits is through an employer-sponsored Health Savings Account (HSA). For eligible individuals, an HSA offers a tax-advantaged way to set aside funds (or have their employers do so) to meet future medical needs. Here are the key tax benefits:

Full Story

Posted in Business Tax

Recent Posts

Returning_Value