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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

2 Valuable Year-End Tax-Saving Tools for Your Business

Posted by Marty Williams, CPA on Dec 11, 2019

At this time of year, many business owners ask if there’s anything they can do to save tax for the year. Under current tax law, there are two valuable depreciation-related tax breaks that may help your business reduce its 2019 tax liability. To benefit from these deductions, you must buy eligible machinery, equipment, furniture or other assets and place them into service by the end of the tax year. In other words, you can claim a full deduction for 2019 even if you acquire assets and place them in service during the last days of the year.

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Posted in Business Tax

Reasons Why Cash Is King

Posted by Marty Williams, CPA on Oct 22, 2019

In financial reporting, investors and business owners tend to focus on four key metrics: 1) revenue, 2) net income, 3) total assets and 4) net worth. But, when it comes to gauging short-term financial performance and creditworthiness, the trump card is cash flow.

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Posted in Audit & Assurance

Corporate Governance in the 21st Century

Posted by Marty Williams, CPA on Sep 12, 2019

What’s the purpose of a corporation? For the last 50 years, the answer was “to maximize shareholder value.” But, on August 19, CEOs of 181 leading U.S. businesses, including Amazon, Apple, General Motors and Walmart, pledged to broaden the scope.

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Posted in Audit & Assurance

The Tax Implications of a Company Car

Posted by Marty Williams, CPA on Aug 26, 2019

The use of a company vehicle is a valuable fringe benefit for owners and employees of small businesses. This benefit results in tax deductions for the employer as well as tax breaks for the owners and employees using the cars. (And of course, they get the nontax benefits of driving the cars!) Even better, recent tax law changes and IRS rules make the perk more valuable than before.

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Posted in Business Tax

It's a Good Time to Buy Business Equipment and Other Depreciable Property

Posted by Marty Williams, CPA on Jul 16, 2019

There’s good news about the Section 179 depreciation deduction for business property. The election has long provided a tax windfall to businesses, enabling them to claim immediate deductions for qualified assets, instead of taking depreciation deductions over time. And it was increased and expanded by the Tax Cuts and Jobs Act (TCJA).

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Posted in Business Tax

Tax-smart Domestic Travel: Combining Business With Pleasure

Posted by Marty Williams, CPA on Jun 19, 2019

Summer has just begun, so you might be thinking about getting some vacation time. If you’re self-employed or a business owner, you have a golden opportunity to combine a business trip with a few extra days of vacation and offset some of the cost with a tax deduction. But be careful, or you might not qualify for the write-offs you’re expecting.

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Posted in Business Tax

Consider a Roth 401(k) Plan - and Make Sure Employees Use It

Posted by Marty Williams, CPA on May 13, 2019

Roth 401(k) accounts have been around for 13 years now. Studies show that more employers are offering them each year. A recent study by the Plan Sponsor Council of America (PSCA) found that Roth 401(k)s are now available at 70% of employer plans, up from 55.6% of plans in 2016.

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Posted in Business Advisory

Deducting Business Meal Expenses Under Today's Tax Rules

Posted by Marty Williams, CPA on Apr 22, 2019

In the course of operating your business, you probably spend time and money “wining and dining” current or potential customers, vendors, and employees. What can you deduct on your tax return for these expenses? The rules changed under the Tax Cuts and Jobs Act (TCJA), but you can still claim some valuable write-offs.

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Posted in Business Tax

The Home Office Deduction: Actual Expenses vs. the Simplified Method

Posted by Marty Williams, CPA on Feb 21, 2019

If you run your business from your home or perform certain functions at home that are related to your business, you might be able to claim a home office deduction against your business income on your 2018 income tax return. There are now two methods for claiming this deduction: the actual expenses method and the simplified method.

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Posted in Business Tax

Higher Mileage Rate May Mean Larger Tax Deductions For Business Miles in 2019

Posted by Marty Williams, CPA on Jan 18, 2019

This year, the optional standard mileage rate used to calculate the deductible costs of operating an automobile for business increased by 3.5 cents, to the highest level since 2008. As a result, you might be able to claim a larger deduction for vehicle-related expense for 2019 than you can for 2018.

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Posted in Business Tax

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