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

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

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.

Full Story

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.

Full Story

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.

Full Story

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.

Full Story

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.

Full Story

Posted in Business Tax

Fringe Benefits: Long-term Care Insurance Can Pay Off

Posted by Marty Williams, CPA on Dec 12, 2018

The U.S. population is aging and, as it does, the need for long-term support and services will only grow. According to a 2017 fact sheet from the AARP Public Policy Institute, on average, 52% of people who turn 65 today will develop a severe disability that will require long-term care (LTC) at some point. For this reason, among others, employers should consider offering LTC insurance as a fringe benefit.

Full Story

Posted in Payroll, HR & Benefits

When Holiday Gifts and Parties are Deductible or Taxable

Posted by Marty Williams, CPA on Nov 27, 2018

The holiday season is a great time for businesses to show their appreciation for employees and customers by giving them gifts or hosting holiday parties. Before you begin shopping or sending out invitations, though, it’s a good idea to find out whether the expense is tax deductible and whether it’s taxable to the recipient. Here’s a brief review of the rules.

Full Story

Posted in Business Tax

Starting Slow With a SIMPLE IRA

Posted by Marty Williams, CPA on Oct 30, 2018

For certain employers, particularly small businesses, introducing a retirement plan for employees may seem like a daunting task. The company owner may feel that providing a full-blown 401(k) plan is his or her only choice, but that’s far from true.

Full Story

Posted in Business Advisory

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.

Full Story

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.

Full Story

Posted in Business Tax

Recent Posts

Returning_Value