4Thought Blog

The Proposed Changes to Valuation Discounts for Family-Owned Businesses: An Update

The IRS recently issued new proposed regulations designed to reduce the ability to take valuation discounts on intra-family transfers of interests in privately-held businesses. These proposed regulations aim to reduce the ability to apply valuation discounts which can affect future estate and gift tax planning. If the proposed regulations are finalized in their current form, they could…

Full article

Manufacturers: Are You Receiving All the Tax Deductions to Which You’re Entitled?

Are you familiar with cost segregation studies, IC –DISCs, R&D tax credits, accelerated depreciation methods and the Domestic Production Activities Deduction? If not, then you may have outgrown your tax advisor and are likely not taking advantage of tax deductions available to you. It is obviously costing you money and decreasing your cash flow.

Full article

Educational Tax Credits in Time for Back to College

If you pay for college for your child or yourself this year, you may receive some tax savings on your federal tax return, even if you’re studying outside of the U.S. Both the American Opportunity Tax Credit and the Lifetime Learning Credit may reduce the amount of tax you owe, but only the AOTC is…

Full article

How McDonald’s Owner/Operators Can Manage Cash While in Growth Mode

Cash flow is the life-blood of any business, be it quick-service restaurants, retail, professional services, construction – it’s what keeps the lights on and ultimately separates success from failure. While positive cash flow is always the goal, there are myriad degrees of positive cash flow. Clearly, working to maximize the level of positive cash flow…

Full article

Attention Family Businesses: IRS Seeks to Change Gift Tax Rules on Minority Interests

It used to be easier to minimize taxes when passing the business baton to the owners next generation, but the IRS is tightening regulations on transfers. But there are steps you can still take to help ease the impact of transition for the future. The IRS just issued new proposed regulations that are designed to…

Full article

Business Owners: Are You Ready for Same Day ACH?

Beginning Sept. 23, 2016, the electronic payment association NACHA has adopted a new rule to allow same-day processing of ACH – or automated clearing house – payments. Currently most ACH payments settle on the next business day. This new rule includes a “Same Day Fee” on each same day transaction that many ACH originators may…

Full article

10 Steps Business Owners Can Take to Prevent Fraud

Lehigh Valley newspapers recently were once again filled with headlines about million-dollar fraud schemes. A bookkeeper was accused of stealing more than $1.4 million from an Emmaus civil engineering and landscape architectural firm and a former purchasing director at Utz Quality Food pleaded guilty to a $1.4 million fraud scheme involving vendor kickbacks.

Full article

Top Taxes Americans Love to Hate

Few people enjoy giving money to the IRS, but some types of taxes are viewed more unfavorably than others. Here are three worthy candidates vying for the title of most-hated tax:

Full article

Add This to Your Wedding Checklist to Save Money: Tax Planning

With all the planning and preparation that goes into a wedding, taxes may not be high on your wedding checklist. However, you should be aware of the tax issues that come along with marriage. Here are some basic tips to help with your planning from the IRS:

Full article

Pennsylvania Budget Includes Renewed Tax Credit for Brewers

There’s great news for Pennsylvania’s craft brewers – the new state budget includes a very helpful tax credit especially for them. The Brewers malt tax credit provides an annual $200,000 maximum tax credit for qualifying capital expenditures. The credit was previously available for 35 years in Pennsylvania, from 1974 through 2008. Pennsylvania’s craft brewers have…

Full article