At Machen McChesney we are committed to Returning Value to you through our monthly e-newsletter, The Value Report.

Here you'll find regular tips to help with your business and personal finances, as well as strategies to grow and more efficiently run your organization. 

Table of Content

1. Five Ways to Improve Business Budgets
2. What Every Trustee Should Know: The 65 Day Rule
3. Did You Know?...
4. Tax Deductions on the Move
5. How to Use the Safe Harbor Election for Capital Expenditures
6. What's New at Machen McChesney

Strategic planning for the coming year

Do you know where your business budget is?

This is the traditional time to draw up a budget for the coming year. Perhaps the way you previously developed the budget for your business has not been overly successful. Or maybe you have found as the year goes along that certain key factors were ignored or not given enough weight. In that case, the way you usually put together the budget may not be the best approach for your business. Continue reading.

What Every Trustee Should Know: The 65 Day Rule

With the 2017 tax season fast approaching, I wanted to pass along a few tips and timelines to any executor or trustee who will be filing Form 1041 income tax filings for trust and estates, as well as Form 709 gift tax. Filing Fiduciaries of estates and complex trusts have the option to treat certain distributions as having occurred last year. An election can be made with respect to distributions made within 65 days after the end of a tax year. Continue reading. 

Did You Know? ...

Machen McChesney has been assisting executors and trustees in managing administrative duties for over 60 years.  We understand that leaving an estate or trust to chance can result in significant tax consequences or even frozen assets. The complexity of it all is very confusing, which is why we can work together to help you achieve the future you seek for yourself and your family. 

Machen McChesney introduces the estate and trust tax services group. With a combined experience of 83 years, this group is dedicated to providing this specialized service to individuals and their families. Contact us today.

Tax Deductions on the Move

Are you planning a move in the near future? Be aware of special tax rules for deducting moving expenses on your personal tax return. In some cases, moving expenses are fully or partially deductible, while other times they are not. Continue reading. 

How to Use the Safe Harbor Election for Capital Expenditures

Does your manufacturing company plan to purchase equipment or machinery early in 2017? If so, it is worth considering the timing of when you purchase that equipment for the best tax savings. It all has to do with something called the de minimis safe harbor election. Continue reading.

What's New at Machen McChesney?

Sponsorships, new hires, announcements
Continue reading.

We hope you found value in The Value Report you've received this month. We look forward to finding even more ways to Return Value to you in the future.