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Returning Value Blog

Marty Williams, CPA

Marty Williams has worked in the accounting profession for 27 years, almost all of which has been at Machen McChesney where he specializes in tax, 1031 exchanges and business advisory services. Industries expertise includes construction, manufacturing, real estate, professional services and healthcare. In addition to firm management, Marty works with business core processes and the Business Tax and Business Advisor Services groups on ways to consistently return value to Machen McChesney clients.

Recent Posts

An FLP Can Save Tax In a Family Business Succession

Posted by Marty Williams, CPA on Aug 10, 2018

One of the biggest concerns for family business owners is succession planning — transferring ownership and control of the company to the next generation. Often, the best time tax-wise to start transferring ownership is long before the owner is ready to give up control of the business.

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Posted in Business Advisory

Business Deductions For Meal, Vehicle and Travel Expenses: Document, Document, Document

Posted by Marty Williams, CPA on Jul 23, 2018

Meal, vehicle, and travel expenses are common deductions for businesses. But if you don’t properly document these expenses, you could find your deductions denied by the IRS.

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Posted in Business Tax

Make Sure Repairs To Tangible Property Were Actually Repairs Before You Deduct The Cost

Posted by Marty Williams, CPA on Mar 16, 2018

Repairs to tangible property, such as buildings, machinery, equipment or vehicles, can provide businesses a valuable current tax deduction — as long as the so-called repairs weren’t actually “improvements.” The costs of incidental repairs and maintenance can be immediately expensed and deducted on the current year’s income tax return. But costs incurred to improve tangible property must be depreciated over a period of years.

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Posted in Business Tax

Follow IRS Rules to Ensure You Receive Your Charitable Tax Deductions

Posted by Marty Williams, CPA on Feb 19, 2018

If reducing your taxable estate is an important estate planning goal, making lifetime charitable donations can help achieve that goal and benefit your favorite organizations. In addition, by making donations during your lifetime, rather than at death, you can claim income tax deductions. But some of your charitable deductions could be denied if you don’t follow IRS rules.

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Posted in Individual Tax

Meals, Entertainment, and Transportation May Cost Businesses More Under The TCJA

Posted by Marty Williams, CPA on Jan 25, 2018

Along with tax rate reductions and a new deduction for pass-through qualified business income, the new tax law brings the reduction or elimination of tax deductions for certain business expenses. Two expense areas where the Tax Cuts and Jobs Act (TCJA) changes the rules — and not to businesses’ benefit — are meals/entertainment and transportation. In effect, the reduced tax benefits will mean these expenses are more costly to a business’s bottom line.

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Posted in Business Tax

2017 Year-End Tax Planning for Individuals and Businesses

Posted by Marty Williams, CPA on Dec 01, 2017

As 2017 draws to a closethe time to consider tax-saving opportunities for you and/or your business is before year-end. Individual income taxes, whether paid through employer withholding or quarterly estimates, are probably one of your largest annual expenditures. You may want to consider opportunities to reduce or defer your annual tax obligation. Also, if you own a business, some opportunities may apply regardless of whether your business is conducted as a sole proprietorship, partnership, limited liability company, S corporation, or a regular corporation. Other opportunities may apply only to a particular type of business organization. These Tax Planning Letters are intended to assist you in your individual and business tax planning efforts.

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Posted in Tax Planning

Machen McChesney Announces Promotions of Four New Partners.

Posted by Marty Williams, CPA on Nov 14, 2017

Machen McChesney, one of the region’s leading CPA and business advisory firms, announces it has named Louis Hawkins, CPA, Jessica L. Pagan, CPA, Lesley L. Price, CPA, and Nick Wheeler, CPA new partners effective January 1, 2018.

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Posted in News & Events

Five Year-end Moves for Small Businesses

Posted by Marty Williams, CPA on Nov 10, 2017

Top ideas for your business operation

As with individuals, year-end tax planning for businesses remains somewhat uncertain. However, the Protecting Americans from Tax Hikes (PATH) Act of 2015 preserved certain tax benefits that can be incorporated into a logical year-end plan. Here are five ideas for small-business owners to consider:

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Posted in Business Tax

Thorough Due Diligence Can Protect Your Acquisition From Fraud

Posted by Marty Williams, CPA on Oct 20, 2017

In today’s rough-and-tumble world of mergers and acquisitions (M&As), buyers need to get to know business sellers and their executives, test their representations about asset condition and financial performance, and screen for common fraud schemes. Here’s why.

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Posted in Business Advisory

Tax Planning Critical When Buying a Business

Posted by Marty Williams, CPA on Sep 05, 2017

If you acquire a company, your to-do list will be long, which means you can’t devote all of your time to the deal’s potential tax implications. However, if you neglect tax issues during the negotiation process, the negative consequences can be serious. To improve the odds of a successful acquisition, it’s important to devote resources to tax planning before your deal closes.

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Posted in Business Advisory

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