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Simplifying the accounting rules for convertible debt and equity

Tighe, Kress & Orr.

By: Tighe, Kress & Orr.

Posted March 29, 2019 / No comments

Distinguishing between liabilities and equity on a company’s balance sheet may seem straightforward. But difficulties arise when it comes to the terms of complex securities and financial contracts like redeemable equity instruments, equity-linked or indexed instruments, and convertible instruments. The good news is that the Financial Accounting Standards Board (FASB) is currently working on a

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The Department of Labor proposes updated overtime rule

Anna Wollin

By: Anna Wollin

Posted March 22, 2019 / No comments

The Department of Labor proposes updated overtime rule The Trump administration has released its long-awaited proposed rule to update the overtime exemptions for so-called white-collar workers under the Fair Labor Standards Act. The rule increases the minimum weekly standard salary level for both regular workers and highly compensated employees (HCEs). It also increases the total

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There’s still time for small business owners to set up a SEP retirement plan for last year

Tighe, Kress & Orr.

By: Tighe, Kress & Orr.

Posted March 11, 2019 / No comments

There’s still time for small business owners to set up a SEP retirement plan for last year If you own a business and don’t have a tax-advantaged retirement plan, it’s not too late to establish one and reduce your 2018 tax bill. A Simplified Employee Pension (SEP) can still be set up for 2018, and

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Blow the dust off your employee handbook

Tighe, Kress & Orr.

By: Tighe, Kress & Orr.

Posted February 26, 2019 / No comments

Blow the dust off your employee handbook It’s probably safe to say that most employers have created some form of an employee handbook. But just because your organization has one, that doesn’t mean it’s functional. An outdated or poorly written handbook could harm your organization by misleading employees or sending mixed messages about your HR

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The home office deduction: Actual expenses vs. the simplified method

Tighe, Kress & Orr.

By: Tighe, Kress & Orr.

Posted February 19, 2019 / No comments

The home office deduction: Actual expenses vs. the simplified method 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

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3 big TCJA changes affecting 2018 individual tax returns and beyond

Tighe, Kress & Orr.

By: Tighe, Kress & Orr.

Posted February 12, 2019 / No comments

3 big TCJA changes affecting 2018 individual tax returns and beyond When you file your 2018 income tax return, you’ll likely find that some big tax law changes affect you — besides the much-discussed tax rate cuts and reduced itemized deductions. For 2018 through 2025, the Tax Cuts and Jobs Act (TCJA) makes significant changes

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IRS provides QBI deduction guidance in the nick of time

Tighe, Kress & Orr.

By: Tighe, Kress & Orr.

Posted February 1, 2019 / No comments

When President Trump signed into law the Tax Cuts and Jobs Act (TCJA) in December 2017, much was made of the dramatic cut in corporate tax rates. But the TCJA also includes a generous deduction for smaller businesses that operate as pass-through entities, with income that is “passed through” to owners and taxed as individual

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An ESOP can benefit a business owner’s retirement and estate plans

Tighe, Kress & Orr.

By: Tighe, Kress & Orr.

Posted January 31, 2019 / No comments

An ESOP can benefit a business owner’s retirement and estate plans Employee stock ownership plans (ESOPs) offer closely held business owners an exit strategy and a tax-efficient technique for sharing equity with employees. But did you know that an ESOP can be a powerful estate planning tool? It can help you address several planning challenges, including

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IRS provides QBI deduction guidance in the nick of time

Tighe, Kress & Orr.

By: Tighe, Kress & Orr.

Posted January 29, 2019 / No comments

When President Trump signed into law the Tax Cuts and Jobs Act (TCJA) in December 2017, much was made of the dramatic cut in corporate tax rates. But the TCJA also includes a generous deduction for smaller businesses that operate as pass-through entities, with income that is “passed through” to owners and taxed as individual

Read More