…an effective way of managing your business but also ensuring your contractor financial statements are comparable within the industry and support an unmodified auditor’s opinion. Contractors should be aware of…
…credit, how to determine the applicable amount of the credit, and requirements. Contractor eligibility Eligible contractors must construct or substantially reconstruct and rehabilitate a qualified new energy efficient home located…
…are reported on Form 1099-NEC in Box 1. Form 1099-NEC is due to recipients and the IRS on January 31, 2023: Provide Form 1099-NEC to unincorporated independent contractors to whom…
The CARES Act correction to Qualified Improvement Property: Considerations for commercial real estate holders With the passage of the CARES Act, a major drafting error of the Tax Cuts and…
…government. Digital assets also experience significant market volatility, with unpredictable and substantial market value swings of individual assets. These considerations preclude them from being considered cash or cash equivalents. In…
…$5,000 fine per event. Sponsor recognition that has no element of advertising is considered to have no fair market value. Accounting considerations for nonprofit auction events Auctions include two different…
…portion of the tax is being eliminated. We will continue to monitor new and changing Virginia and other states’ tax considerations that may impact you and your business. If you…
…new tax landscape. Additional considerations to keep in mind While the reinstatement of 100% bonus depreciation is significant, eligibility depends on more than when an asset is placed in service….
…thorough understanding of accounting standards, loss adjustments, insurance recoveries, and related transactions. This blog explores key considerations and best practices for accounting under these challenging circumstances. The financial impact of…
…be used to record the fair value of the digital assets on an entity’s books. Other Considerations For financial reporting purposes, an entity will need to determine what level of…
Growth considerations for Healthcare practices Growth considerations for healthcare practices were a recent topic of discussion at the 2024 Richmond Healthcare Forum event hosted by Keiter, Prospect Blue, Truist Wealth,…
…and Katie Christopher. This seminar provided clients and attendees with insightful updates on state and local tax issues, including income apportionment, sourcing revenue, economic nexus, and telecommuting tax considerations. Below…