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The Value Report - Machen McChesney Business Advisory Insights

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. Depreciation-related Breaks On Business Real Estate: What You Need To Know When You File Your 2018 Return.
  2. Private Companies: Have You Implemented The New Revenue Recognition Standard?
  3. Fundamental Tax Truths for C Corporations
  4. DOL Increases Penalties for Many Labor Law Violations
  5. When Are LLC Members Subject to Self-employment Tax?
  6. Auditing Cashless Transactions
  7. The Home Office Deduction: Actual Expenses vs. the Simplified Method
  8. There's a Better Way to Raise College Funds
  9. Eight Key Tax Planning Opportunities for 2019
  10. What's New at Machen McChesney

Depreciation-related Breaks On Business Real Estate: What You Need To Know When You File Your 2018 Return.

iStock-491601756-1Commercial buildings and improvements generally are deprciated over 39 years, which essentially means you can deduct a portion of the cost every year over the depreciation period. (Land isn't  Continue reading


Private Companies: Have You Implemented The New Revenue Recognition Standard?iStock-976987588 (1)-1Private companies that follow U.S. Generally Accepted Accounting Principles (GAAP) must comply with the landmark new revenue recognition standard in 2019. Many private company CFOs and controllers report that they still have significant work to do to meet the demands of the sweeping rules. If you haven’t started the implementation process, it’s time to get the ball rolling. Continue reading.


Fundamental Tax Truths for C Corporations

iStock-1127292407-1The flat 21% federal income tax rate for C corporations under the Tax Cuts and Jobs Act (TCJA) has been great news for these entities and their owners. But some fundamental tax truths for C corporations largely remain the same: Continue reading.  


DOL Increases Penalties for Many Labor Law Violations

iStock-509864442-1Every employer knows that failing to comply with federal laws is costly, but it’s getting even more so. The Federal Civil Penalties Inflation Adjustment Act Improvements Act of 2015 directs federal agencies to adjust civil penalties for inflation each year. As a result, the Department of Labor recently issued a final rule that revises civil penalties for many violations of federal labor laws for 2019. Here are some of the major areas to be aware of: Continue reading.    


When Are LLC Members Subject to Self-employment Tax?

iStock-475883744-1Limited liability company (LLC) members commonly claim that their distributive shares of LLC income — after deducting compensation for services in the form of guaranteed payments — aren’t subject to self-employment (SE) tax. But the IRS has been cracking down on LLC members it claims have underreported SE income, with some success in court. Continue reading


Auditing Cashless Transactions

iStock-955653888-1Like most businesses, you’ve probably experienced a significant increase in the number of customers who prefer to make cashless payments. And you may be wondering: How does the acceptance of these types of transactions affect the auditing of your financial statements? Continue reading.  


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

iStock-999151842 (1)-1If 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. Continue reading.


There's a Better Way to Raise College Funds

IFF_529Plans_IMAGE_560x292Advantages of 529 education savings plans. Continue reading.


Eight Key Tax Planning Opportunities for 2019

iStock-1128573557-1More than a year after sweeping federal and state tax reform were enacted, businesses of all sizes are still wrapping their arms around the changes.  Additional guidance and regulations have been issued nearly every month—indeed, change is the new normal. Strategic tax planning now is key to lowering businesses’ total tax liability.  Read on for eight top planning opportunities and considerations businesses should review as part of their 2019 strategy. Continue reading.


What's New at Machen McChesney?

iStock_41667068_LARGE-822670-edited.jpgSponsorships, 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. 

Please feel free to visit our website or visit our blog at any time during the month to interact with additional valuable resources and helpful information.
 
If you have any questions on the topics above, please feel free to send us a message.
 
Thanks,
Machen McChesney 
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Montgomery: 1761 Taliaferro Trail | Montgomery AL 36117

www.machenmcchesney.com

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