4Thought Blog

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Nonprofit Cash Management: Steps to Take Beyond the Annual Budget

Managing limited resources and dodging between various compliance issues, nonprofit organizations are at greater disadvantage than their for-profit counterparts. One way they can take on this challenge is with the proper monitoring of cash flow. Nonprofit entities use two reports to this end – the annual budget and a cash forecast.

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Multi-State Tax & The Wayfair Fallout: What’s Next for Online Sellers

The recent Wayfair decision has drastically altered the landscape for states that want to collect sales and use taxes. Prior to this landmark U.S. Supreme Court case, economic “nexus” for tax purposes was established only if the seller of goods or services exhibited a “physical presence” in the state. Under Wayfair, sales and use tax…

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Buy-Sell Agreements are a Must for Closely-Held Business Owners

For closely-held businesses with multiple owners, it’s certainly a best practice to have a buy-sell agreement signed and in place. A buy-sell agreement is a contract between the co-owners of a business which stipulates the terms and conditions for the buyout of an interest in the company should one of the owners need to leave….

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Post Tax Reform: Who Pays No Tax on Long-Term Gains and Dividends

Do you have long-term capital gains or qualified dividends? If so, there’s good news: After the Tax Cuts and Jobs Act, you might still qualify for the 0% federal income tax rate on these types of income. The rate is only available for those with relatively low income. But, if your income is too high…

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Illustration of a beer that says Valuation

How Much is My Brewery Worth? A Valuation Primer

Whether you’re looking to buy a brewery, sell a brewery, gift some ownership to a partner or successor, or are just plain curious, the question of value is of primary concern. Ask any valuator worth their salt and he or she will tell you, valuation is an art, not a science. There is no black…

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Thinking of Buying Another Construction Firm? What to Consider

Buying another construction firm can be an attractive way to grow your company’s revenue base. A merger or an acquisition can allow you to:  Add a new subcontracting specialty, Acquire an experienced labor force to reach new markets, and Deepen your penetration into the market your firm already serves.

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House Takes Steps on Further Federal Tax Reform

The U.S. House Ways and Means Committee last week passed three separate bills that will be the cornerstone of what is being referred to as Tax Reform 2.0. The bills focus on making permanent certain provisions of the Tax Cuts and Jobs Act that affect individuals, families, and small businesses. They also promote family and…

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The Controversial SALT Limitation: What Taxpayers can do on State and Local Taxes Deductions

In recent weeks, the IRS has issued a series of proposed regulations to help clarify provisions of the Tax Cuts and Jobs Act. One of the most controversial parts of the law is the limit on individuals’ deductions for state and local taxes that goes into effect this year. In the wake of the TCJA,…

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How Business Owners can Aggregate to Maximize the Qualified Business Income Deduction

One of the most valuable tax breaks in the Tax Cuts and Jobs Act is the new deduction for up to 20% of qualified business income from pass-through entities. The IRS recently issued proposed regulations that help clarify who can benefit from the deduction. One of the issues the regs clarify is how taxpayers can…

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Tax Reform Expands Simpler Accounting Method for More Small Businesses

Thanks to changes included in the Tax Cuts and Jobs Act, many more businesses can now use the simpler and more-flexible cash method of accounting for federal income tax purposes. The new law also includes some other tax accounting changes that are good news for small businesses. Like many TCJA changes that apply to businesses,…

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