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Tax

GreerWalker-VideoCover-Proactive-Tax-Strategies-for-High-Earning-Taxpayers_CT-21046

Proactive Tax Strategies for High-Earning Taxpayers

Authored By GreerWalker

The IRS has issued clear warnings about its increased scrutiny of high-net-worth individuals, especially those using risky tactics to reduce tax obligations. This video provides strategies for optimizing your financial situation while staying within the bounds of the law. 

GreerWalker-VideoCover-The-1031-Exchange-Explained_CT-19070

The 1031 Exchange Explained

Authored By GreerWalker

In the world of real estate, the Section 1031 exchange has been a significant tool for investors who want to grow their real estate portfolio and wealth. In this video, we’ll explain how a 1031 exchange works and important considerations when using one.

Greer Walker People

The Corporate Transparency Act and Beneficial Ownership Reporting

Authored By GreerWalker

In the complex world of mergers and acquisitions (M&A), a sell-side Quality of Earnings (QoE) report plays a crucial role in determining a company’s financial health and sustainability of its earnings. Far from being an unnecessary expense or an added complexity, a QoE report is a powerful tool that can provide key insights to both potential sellers and buyers, streamline the transaction process, and help maximize sale value.

GreerWalker-VideoCover-Two-Estate-Planning-Strategies-to-Help-Protect-Wealth_CT-18537

Two Estate Planning Strategies to Help Protect Wealth

Authored By GreerWalker

A goal of estate planning is to maximize the wealth that is passed on to one’s heirs. In this video, we’ll discuss how a Spousal Lifetime Access Trust and an Irrevocable Life Insurance Trust may help you minimize estate taxes and protect wealth.

GreerWalker-VideoCover-The-Key-Functions-of-Your-Nonprofit-Board_CT-18462

The Key Functions of Your Nonprofit Board

Authored By GreerWalker

Nonprofit board service can be as exhausting as it is rewarding. Whether you are on a board yourself, thinking about joining a board, or seeking to improve the one you sit on, here are three things that high-functioning nonprofit boards get right.

GreerWalker-VideoCover-Determining-Reasonable-Compensation-for-S-Corp-Owners_CT-17673

Determining Reasonable Compensation for S-Corp Owners

Authored By GreerWalker

As an owner of an S-Corp, understanding the concept of reasonable compensation is crucial for tax planning and compliance. Learn about the IRS’s reasonable compensation rules for determining how much should be taken in the form of wages versus pass-through income.

GreerWalker-VideoCover-Mistakes-To-Avoid-When-Setting-Growth-Goals_CT-16941

Mistakes To Avoid When Setting Growth Goals

Authored By GreerWalker

Discover the common mistakes made when setting growth goals and how to avoid them. Learn how to create a clear and achievable plan to take your business to the next level.

Pass Through Entity Tax Update (PTET Election)

South Carolina Withholding Tax Tips for Remote Employees

Authored By Jason Pritchard, GreerWalker

Title: South Carolina Withholding Tax Tips for Remote Employees The South Carolina Department of Revenue (SCDOR) recently released a summary of tips to assist employers dealing with withholding tax compliance for their remote workforce.  The rules for remote employees are complicated in many states & the pandemic made this a critical priority for many employers.  […]

GreerWalker-VideoCover-6-Misconceptions-of-a-Revocable-Living-Trust_CT-15861

6 Misconceptions of a Revocable Living Trust

Authored By GreerWalker

A revocable living trust, or RLT, offers many benefits, including probate avoidance, privacy, and flexibility in managing assets during one’s life, incapacity, and death. However, despite their popularity as an estate planning tool, there are many misconceptions surrounding revocable trusts that lead to confusion and misunderstandings. Watch this video to learn about the top six misconceptions.

GreerWalker-VideoCover-RE-Expense-Amortization-Got-You-Down_CT-13797

R&E Expense Amortization Got You Down?

Authored By GreerWalker

Now that Research & Experimentation expenses must be amortized over several years, many companies are looking for ways to increase deductions and reduce taxable income. Here are three opportunities to potentially accelerate depreciation and reduce your tax liability.

Pass Through Entity Tax Update (PTET Election)

PTET Election: An Opportunity to Reduce Your Tax Bill

Authored By Jason Pritchard, GreerWalker

A recent tax planning strategy has emerged which benefits owners of many businesses that are structured as partnerships, LLCs, LLPs, or S-corporations. A carefully planned analysis of the business’ tax filings can provide a way to reduce an owners’ taxable income from the business due to the adoption of changes in how the entity reports […]

IRS Releases 2023 Tax Inflation Adjustments

Authored By RSM US LLP

IRS releases inflation adjustments for 2023. Inflation adjustments impact individual tax brackets and other various provisions of the Code.

GreerWalker-FeatureImage-Office-Conference-5-784

Superfund excise tax FAQs and tax rates released by the IRS

Authored By RSM US LLP

The IRS issued FAQs regarding the Superfund chemical excise tax (FS-2022-31) and tax rates (IR-2022-132) today to help those taxpayers who may be impacted by the Superfund excise taxes. The taxes are set to be reinstated beginning on July 1, 2022. There are two separate Superfund chemical excise taxes: a tax imposed on the sale […]

Pass Through Entity Tax Update (PTET Election)

North Carolina Pass Through Entity Tax Update

Authored By Jason Pritchard, GreerWalker

In November 2021, North Carolina enacted Senate Bill 105 which includes a new elective pass-through entity tax (“PTET”) filing options for certain NC companies.  This law change allows entities taxed as partnerships or S-corporations to elect to pay an entity level state income tax for taxable years beginning on or after January 1, 2022. Owners […]

North Carolina Business Recovery Grant

North Carolina Business Recovery Grant Phase 2 Now Open

Authored By Jason Pritchard, GreerWalker

The announcement of Phase 2 of this grant also includes the ability for companies that previously received federal or NC financial hardship incentives to participate. Phase 1 of the program (which closed a few months ago) prevented companies which had received a PPP loan, NC Job Retention Grant, or EIDL advance from qualifying for this […]

Succession Planning for Nonprofits - GreerWalker Video

Succession Planning for Nonprofits

Authored By GreerWalker

Grooming future leaders and mapping out a succession plan in advance is one of the best ways to mitigate the risk of losing key personnel and prepare for the future needs and growth of an organization. This video offers tips and best practices for creating and implementing a succession plan for your nonprofit.

GreerWalker-Video-Cover-Protecting-Your-Company-From-Ransomware-CT-9064

Protecting Your Company From Ransomware

Authored By GreerWalker

Ransomware is a significant threat for business owners of any size, and the damages can be catastrophic. This video will explain what ransomware is and provide seven tips on protecting you and your company.

IRS Releases Guidance on Q4 Removal

IRS Releases Guidance on Q4 Removal of Employee Retention Credit

Authored By RSM US LLP

The Infrastructure Investment and Jobs Act passed in November ended the employee retention credit (ERTC) early, changing the eligible wages to only those paid before Oct. 1, 2021 rather than Jan. 1, 2022 as previously expanded in the American Rescue Plan Act. This change does not apply to recovery startup businesses. Many businesses were filing […]

Benefits of Hiring an Outsourced CFO GreerWalker

The Benefits of Hiring an Outsourced CFO

Authored By GreerWalker

When it comes to running any organization, proper financial management is critical. One of the most important decisions you’ll make is if and when to hire a Chief Financial Officer. While many organizations may not be ready for a full-time CFO, they may significantly benefit from hiring an outsourced CFO.

Cost Segregation Real Estate

How Cost Segregation Studies Help Real Estate Owners Defer Taxes

Authored By GreerWalker

Real estate owners who have purchased, constructed or renovated real estate should consider performing a cost segregation study to accelerate depreciation and defer income taxes. Watch now to learn more.

Valuing Your Business

Valuing Your Business

Authored By GreerWalker

A business valuation helps to determine the fair market value of a company and may be needed for a variety of reasons such as buying or selling a business, transferring equity, developing an estate plan or purchasing insurance. In this video, we’ll cover why you might need a valuation and the common methodologies used to determine value.

Leveraging A Spousal Lifetime Access Trust

Leveraging a Spousal Lifetime Access Trust

Authored By GreerWalker

The lifetime gift tax exemption is at an all-time high of $11.7 million per individual and $23.4 million per couple but may be reduced in the near future by potential legislation. This video provides an overview of the Spousal Lifetime Access Trust and how it can help couples maximize their lifetime gift tax exemption.

House Ways and Means Committee tax Changes

House Ways and Means Committee Proposed Tax Changes

Authored By GreerWalker

The House of Representatives Ways and Means Committee recently released draft legislation that would increase taxes to help pay for the proposed $3.5 trillion spending package. In this video, we briefly cover some of the more important proposed tax changes.

Reconciliation Tax Payfors

House Ways and Means Releases Reconciliation Tax Payfors

Authored By RSM US LLP

On Sunday, Sept. 12, 2021, House Democrats outlined revenue raisers needed to offset a $3.5 trillion spending package. Then, on Monday, Sept. 13, 2021, House Ways and Means Committee Chairman Richard Neal (D-Mass.) circulated a draft bill that would ‘preliminarily’ raise $2.9 trillion from proposed tax increases and enhanced taxpayer compliance (mostly from increased IRS […]

Employee Retention Credit Guidance For Open Questions

IRS enhances employee retention credit guidance for open questions

Authored By RSM US LLP

Employers impacted by COVID-19 that may be eligible for the employee retention tax credit (ERTC) finally have some additional guidance from the IRS that addresses a few unanswered questions, although some outstanding questions are still unanswered. Background The ERTC was originally enacted by in the CARES Act in March 2020. Its use by taxpayers was significantly increased […]

American Families Plan

The American Families Plan & its Impact on the Real Estate Industry

Authored By RSM US LLP

President Biden has announced The American Families Plan, representing a $1.8 trillion proposal focused on investing in increased childcare, healthcare, and education initiatives while extending many of the middle-class focused tax credits that were signed into law as part of the American Rescue Plan earlier this year. These initiatives and tax credits will primarily be […]

PPP Expense Deduction Safe Harbor For Taxpayers

IRS Issues PPP Expense Deduction Safe Harbor for Fiscal Year Taxpayers

Authored By RSM US LLP

The IRS recently published Rev. Proc. 2021-20, providing a safe harbor regarding the accounting period in which to claim deductions paid for with PPP funds. This safe harbor allows taxpayers to elect to deduct expenses in the first tax year after the taxpayer’s 2020 taxable year return versus filing an amended return or administrative adjustment request. […]

GreerWalker CPAs & Business Advisors

The IRS Provides Further Guidance on the Employee Retention Tax Credit

Authored By RSM US LLP

The Taxpayer Certainty and Disaster Tax Relief Act of 2020 (Relief Act) provided a number of changes to the Employee Retention Tax Credit (ERTC). Most of these changes are only applicable starting Jan. 1, 2020 and (at the time) only applied to the first two quarters of 2021. Congress has since extended the ERTC from […]

Form 1099-NEC

What You Need To Know About Form 1099-NEC

Authored By GreerWalker

In 2020, the IRS introduced Form 1099-NEC for reporting nonemployee compensation. Learn about Form 1099-NEC and how it differs from Form 1099-MISC.

Donor Advised Fund - GreerWalker Business Advisors

Donor-Advised Funds: Giving with a Tax Advantage

Authored By GreerWalker

If you donate to charitable organizations, you might want to consider establishing a donor-advised fund. A donor-advised fund is a charitable tax-saving tool that enables you to maintain a certain level of control over how funds are distributed while receiving immediate tax benefits.

Contingency Planning for Business Owners

Contingency Planning for Business Owners

Authored By GreerWalker

All businesses face a variety of risks, which is why it’s important to have contingency plans in place to deal with unexpected events. In this video, you will learn 5 important steps to contingency planning for your business.

Business

GreerWalker-VideoCover-Proactive-Tax-Strategies-for-High-Earning-Taxpayers_CT-21046

Proactive Tax Strategies for High-Earning Taxpayers

Authored By GreerWalker

The IRS has issued clear warnings about its increased scrutiny of high-net-worth individuals, especially those using risky tactics to reduce tax obligations. This video provides strategies for optimizing your financial situation while staying within the bounds of the law. 

Greer Walker People

ASC 842 Post-Adoption Reminders

Authored By Ryan Poage, GreerWalker

In the complex world of mergers and acquisitions (M&A), a sell-side Quality of Earnings (QoE) report plays a crucial role in determining a company’s financial health and sustainability of its earnings. Far from being an unnecessary expense or an added complexity, a QoE report is a powerful tool that can provide key insights to both potential sellers and buyers, streamline the transaction process, and help maximize sale value.

GreerWalker-VideoCover-The-1031-Exchange-Explained_CT-19070

The 1031 Exchange Explained

Authored By GreerWalker

In the world of real estate, the Section 1031 exchange has been a significant tool for investors who want to grow their real estate portfolio and wealth. In this video, we’ll explain how a 1031 exchange works and important considerations when using one.

Greer Walker People

The Corporate Transparency Act and Beneficial Ownership Reporting

Authored By GreerWalker

In the complex world of mergers and acquisitions (M&A), a sell-side Quality of Earnings (QoE) report plays a crucial role in determining a company’s financial health and sustainability of its earnings. Far from being an unnecessary expense or an added complexity, a QoE report is a powerful tool that can provide key insights to both potential sellers and buyers, streamline the transaction process, and help maximize sale value.

Your Life Fits at GreerWalker

Clarifying Misunderstandings on Employee Benefit Plan Contributions

Authored By Eric Ritz, GreerWalker

In the complex world of mergers and acquisitions (M&A), a sell-side Quality of Earnings (QoE) report plays a crucial role in determining a company’s financial health and sustainability of its earnings. Far from being an unnecessary expense or an added complexity, a QoE report is a powerful tool that can provide key insights to both potential sellers and buyers, streamline the transaction process, and help maximize sale value.

GreerWalker-VideoCover-Two-Estate-Planning-Strategies-to-Help-Protect-Wealth_CT-18537

Two Estate Planning Strategies to Help Protect Wealth

Authored By GreerWalker

A goal of estate planning is to maximize the wealth that is passed on to one’s heirs. In this video, we’ll discuss how a Spousal Lifetime Access Trust and an Irrevocable Life Insurance Trust may help you minimize estate taxes and protect wealth.

GreerWalker-VideoCover-The-Key-Functions-of-Your-Nonprofit-Board_CT-18462

The Key Functions of Your Nonprofit Board

Authored By GreerWalker

Nonprofit board service can be as exhausting as it is rewarding. Whether you are on a board yourself, thinking about joining a board, or seeking to improve the one you sit on, here are three things that high-functioning nonprofit boards get right.

GreerWalker-VideoCover-Determining-Reasonable-Compensation-for-S-Corp-Owners_CT-17673

Determining Reasonable Compensation for S-Corp Owners

Authored By GreerWalker

As an owner of an S-Corp, understanding the concept of reasonable compensation is crucial for tax planning and compliance. Learn about the IRS’s reasonable compensation rules for determining how much should be taken in the form of wages versus pass-through income.

GreerWalker-VideoCover-Mistakes-To-Avoid-When-Setting-Growth-Goals_CT-16941

Mistakes To Avoid When Setting Growth Goals

Authored By GreerWalker

Discover the common mistakes made when setting growth goals and how to avoid them. Learn how to create a clear and achievable plan to take your business to the next level.

Pass Through Entity Tax Update (PTET Election)

South Carolina Withholding Tax Tips for Remote Employees

Authored By Jason Pritchard, GreerWalker

Title: South Carolina Withholding Tax Tips for Remote Employees The South Carolina Department of Revenue (SCDOR) recently released a summary of tips to assist employers dealing with withholding tax compliance for their remote workforce.  The rules for remote employees are complicated in many states & the pandemic made this a critical priority for many employers.  […]

GreerWalker-VideoCover-6-Misconceptions-of-a-Revocable-Living-Trust_CT-15861

6 Misconceptions of a Revocable Living Trust

Authored By GreerWalker

A revocable living trust, or RLT, offers many benefits, including probate avoidance, privacy, and flexibility in managing assets during one’s life, incapacity, and death. However, despite their popularity as an estate planning tool, there are many misconceptions surrounding revocable trusts that lead to confusion and misunderstandings. Watch this video to learn about the top six misconceptions.

GreerWalker-VideoCover-RE-Expense-Amortization-Got-You-Down_CT-13797

R&E Expense Amortization Got You Down?

Authored By GreerWalker

Now that Research & Experimentation expenses must be amortized over several years, many companies are looking for ways to increase deductions and reduce taxable income. Here are three opportunities to potentially accelerate depreciation and reduce your tax liability.

Pass Through Entity Tax Update (PTET Election)

PTET Election: An Opportunity to Reduce Your Tax Bill

Authored By Jason Pritchard, GreerWalker

A recent tax planning strategy has emerged which benefits owners of many businesses that are structured as partnerships, LLCs, LLPs, or S-corporations. A carefully planned analysis of the business’ tax filings can provide a way to reduce an owners’ taxable income from the business due to the adoption of changes in how the entity reports […]

Strategic Tariff Planning

Strategic Tariff Planning for Supply Chain Cost Optimization

Authored By RSM US LLP

Many companies that have tapped international markets to drive growth over the past decade face significant downward pressure on margins and competitiveness due to ongoing global supply chain disruptions and rising tariffs driven by trade disputes.

Multigenerational Wealth Planning

5 Ways Nonprofits Can Stay Agile

Authored By RSM US LLP

To stay nimble, nonprofit organizations should examine these five areas to enhance their ability to adapt to change.

Financial Institutions Industry Outlook

Financial Institutions Industry Outlook

Authored By RSM US LLP

In our summer 2022 financial institutions industry outlook, we explore what’s ahead for middle market business leaders.

Pass Through Entity Tax Update (PTET Election)

North Carolina Pass Through Entity Tax Update

Authored By Jason Pritchard, GreerWalker

In November 2021, North Carolina enacted Senate Bill 105 which includes a new elective pass-through entity tax (“PTET”) filing options for certain NC companies.  This law change allows entities taxed as partnerships or S-corporations to elect to pay an entity level state income tax for taxable years beginning on or after January 1, 2022. Owners […]

North Carolina Business Recovery Grant

North Carolina Business Recovery Grant Phase 2 Now Open

Authored By Jason Pritchard, GreerWalker

The announcement of Phase 2 of this grant also includes the ability for companies that previously received federal or NC financial hardship incentives to participate. Phase 1 of the program (which closed a few months ago) prevented companies which had received a PPP loan, NC Job Retention Grant, or EIDL advance from qualifying for this […]

Succession Planning for Nonprofits - GreerWalker Video

Succession Planning for Nonprofits

Authored By GreerWalker

Grooming future leaders and mapping out a succession plan in advance is one of the best ways to mitigate the risk of losing key personnel and prepare for the future needs and growth of an organization. This video offers tips and best practices for creating and implementing a succession plan for your nonprofit.

GreerWalker-Video-Cover-Protecting-Your-Company-From-Ransomware-CT-9064

Protecting Your Company From Ransomware

Authored By GreerWalker

Ransomware is a significant threat for business owners of any size, and the damages can be catastrophic. This video will explain what ransomware is and provide seven tips on protecting you and your company.

inflation and the middle market analysis

Inflation and the middle market

Authored By RSM US LLP

The economic growth and emboldened labor market of the past year require a different policy response than the previous two business cycles.

IRS Releases Guidance on Q4 Removal

IRS Releases Guidance on Q4 Removal of Employee Retention Credit

Authored By RSM US LLP

The Infrastructure Investment and Jobs Act passed in November ended the employee retention credit (ERTC) early, changing the eligible wages to only those paid before Oct. 1, 2021 rather than Jan. 1, 2022 as previously expanded in the American Rescue Plan Act. This change does not apply to recovery startup businesses. Many businesses were filing […]

Benefits of Hiring an Outsourced CFO GreerWalker

The Benefits of Hiring an Outsourced CFO

Authored By GreerWalker

When it comes to running any organization, proper financial management is critical. One of the most important decisions you’ll make is if and when to hire a Chief Financial Officer. While many organizations may not be ready for a full-time CFO, they may significantly benefit from hiring an outsourced CFO.

Cost Segregation Real Estate

How Cost Segregation Studies Help Real Estate Owners Defer Taxes

Authored By GreerWalker

Real estate owners who have purchased, constructed or renovated real estate should consider performing a cost segregation study to accelerate depreciation and defer income taxes. Watch now to learn more.

Right Time To Outsource Accounting

Is It Time To Outsource Accounting For Your Business?

Authored By GreerWalker

We know what you’re thinking, “Why do I need a new accounting provider? We could just do it ourselves.” That’s true, but giving your accounting to untrained employees can cost you time and money in the long run. Our clients come to us with a number of reasons they‘re ready to commit to our payroll […]

Year End Tax Considerations - GreerWalker CPAs

Significant Recent Changes In State Taxes Impact Local Businesses

Authored By GreerWalker

There have been many recent legislative actions in North Carolina, South Carolina, and other southeastern states that business owners should be aware of. The NC Legislature has debated significant tax reforms which could impact business income tax, franchise tax, and personal income tax calculations for its resident businesses and owners. There are also several changes […]

Valuing Your Business

Valuing Your Business

Authored By GreerWalker

A business valuation helps to determine the fair market value of a company and may be needed for a variety of reasons such as buying or selling a business, transferring equity, developing an estate plan or purchasing insurance. In this video, we’ll cover why you might need a valuation and the common methodologies used to determine value.

Leveraging A Spousal Lifetime Access Trust

Leveraging a Spousal Lifetime Access Trust

Authored By GreerWalker

The lifetime gift tax exemption is at an all-time high of $11.7 million per individual and $23.4 million per couple but may be reduced in the near future by potential legislation. This video provides an overview of the Spousal Lifetime Access Trust and how it can help couples maximize their lifetime gift tax exemption.

Year End Tax Considerations - GreerWalker CPAs

2021 Year-End Tax Considerations for Businesses

Authored By RSM US LLP

DOWNLOAD GUIDE   Year-end is a critical time for businesses to think carefully about how to achieve their goals in an ever-evolving tax landscape. RSM US LLP’s 2021 year-end tax guide reflects the tax considerations and developments that we believe may create risk or opportunity. Challenges and disruptions have continued this year as the pandemic lingers and […]

GreerWalker CPAs & Business Advisors

Family Offices and Tax Changes: Considerations from the House Proposal

Authored By RSM US LLP

Family offices anticipating a variety of tax law changes now have more details to consider. The House Ways and Means Committee on Sept. 13 outlined its proposal of various income and transfer tax increases on high-income individuals, estates and trusts as part of a plan to generate the revenue necessary to support reconciliation bill spending. […]

House Ways and Means Committee tax Changes

House Ways and Means Committee Proposed Tax Changes

Authored By GreerWalker

The House of Representatives Ways and Means Committee recently released draft legislation that would increase taxes to help pay for the proposed $3.5 trillion spending package. In this video, we briefly cover some of the more important proposed tax changes.

Reconciliation Tax Payfors

House Ways and Means Releases Reconciliation Tax Payfors

Authored By RSM US LLP

On Sunday, Sept. 12, 2021, House Democrats outlined revenue raisers needed to offset a $3.5 trillion spending package. Then, on Monday, Sept. 13, 2021, House Ways and Means Committee Chairman Richard Neal (D-Mass.) circulated a draft bill that would ‘preliminarily’ raise $2.9 trillion from proposed tax increases and enhanced taxpayer compliance (mostly from increased IRS […]

Boom Times in Private Equity - GreerWalker

Boom times in private equity

Authored By RSM US LLP

Private equity deal activity is on pace for its best year on record, and deal activity in the middle market leads the way.

Employee Retention Credit Guidance For Open Questions

IRS enhances employee retention credit guidance for open questions

Authored By RSM US LLP

Employers impacted by COVID-19 that may be eligible for the employee retention tax credit (ERTC) finally have some additional guidance from the IRS that addresses a few unanswered questions, although some outstanding questions are still unanswered. Background The ERTC was originally enacted by in the CARES Act in March 2020. Its use by taxpayers was significantly increased […]

Retirement Plan

Missing Participants in a Retirement Plan

Authored By RSM US LLP

A retirement plan is required to maintain contact information for participants and beneficiaries who are owed a benefit under the plan.

supply chain strategy - GreerWalker Business Advisors

Supply Chain Strategy

Authored By RSM US LLP

Learn lessons from the pandemic to build a stronger supply chain strategy to face disruptions and challenges. Read now.

Own Your Time: Practical Ways to Manage Your Time

Own Your Time: Practical Ways to Manage Your Time

Authored By GreerWalker

The importance of time management in achieving business and personal success cannot be over emphasized. The number of books, courses, websites and motivational speakers on the subject bear testimony to the fact that it is one of the most important skills to have. However, with all of the resources that are available, most professionals continue […]

American Families Plan

The American Families Plan & its Impact on the Real Estate Industry

Authored By RSM US LLP

President Biden has announced The American Families Plan, representing a $1.8 trillion proposal focused on investing in increased childcare, healthcare, and education initiatives while extending many of the middle-class focused tax credits that were signed into law as part of the American Rescue Plan earlier this year. These initiatives and tax credits will primarily be […]

PPP Expense Deduction Safe Harbor For Taxpayers

IRS Issues PPP Expense Deduction Safe Harbor for Fiscal Year Taxpayers

Authored By RSM US LLP

The IRS recently published Rev. Proc. 2021-20, providing a safe harbor regarding the accounting period in which to claim deductions paid for with PPP funds. This safe harbor allows taxpayers to elect to deduct expenses in the first tax year after the taxpayer’s 2020 taxable year return versus filing an amended return or administrative adjustment request. […]

GreerWalker CPAs & Business Advisors

The IRS Provides Further Guidance on the Employee Retention Tax Credit

Authored By RSM US LLP

The Taxpayer Certainty and Disaster Tax Relief Act of 2020 (Relief Act) provided a number of changes to the Employee Retention Tax Credit (ERTC). Most of these changes are only applicable starting Jan. 1, 2020 and (at the time) only applied to the first two quarters of 2021. Congress has since extended the ERTC from […]

The Risk Of Retroactivity

2021 Gifts – Buyer Beware of the Risk of Retroactivity

Authored By RSM US LLP

The Tax Cuts and Jobs Act (TCJA) in 2017 doubled the estate and gift tax exemption to approximately $11 million per spouse. Without an intervening change in law, this amount is set to sunset on Dec. 31, 2025. With the Democrats now holding the White House and having the majority of votes in the House and […]

Form 1099-NEC

What You Need To Know About Form 1099-NEC

Authored By GreerWalker

In 2020, the IRS introduced Form 1099-NEC for reporting nonemployee compensation. Learn about Form 1099-NEC and how it differs from Form 1099-MISC.

Hot To Choose Right Accounting Services For Your Business

Choosing The Right Accounting Services For Your Business

Authored By GreerWalker

While valuable, this ability to customize your accounting services can make it a little tricky to show how we structure our services so, to simplify things, we often explain it in terms of three standard levels of service. Generally, most organizations choose a level of service that lands within one of these three categories: Basic […]

Accounting Compliance and Standards 2022

Are You Keeping Up With Accounting Compliance And Standards?

Authored By GreerWalker

ASU 2016-02, Leases (Topic 842) This ASU provides new regulations which affect all organizations that lease assets, such as real estate, vehicles, and equipment. Previous standards differentiate reporting requirements based on whether an agreement is a capital lease or an operating lease. ASU 2016-02 changes this by requiring all leases with terms of more than […]

Benefits of Outsourced Accounting

7 Ways Outsourced Accounting Will Help Your Business

Authored By GreerWalker

Although many businesses consider outsourcing as a way to save time and money, they often discover many other benefits: More time to focus on other things By outsourcing the most time-consuming aspects of your accounting, you can free up that time to take care of the more important tasks needed to run and grow your […]

Donor Advised Fund - GreerWalker Business Advisors

Donor-Advised Funds: Giving with a Tax Advantage

Authored By GreerWalker

If you donate to charitable organizations, you might want to consider establishing a donor-advised fund. A donor-advised fund is a charitable tax-saving tool that enables you to maintain a certain level of control over how funds are distributed while receiving immediate tax benefits.

Scenario Planning

Scenario Planning

Authored By GreerWalker

What if your organization was already prepared to respond to the challenges brought about by COVID-19? Scenario planning is a savvy management tool that helps organizations deal with the uncertain world in which we live.

GreerWalker-Video-Cover-Succession-Planning-for-Business-Owners-CT-8558-2

Succession Planning for Business Owners

Authored By GreerWalker

Succession planning is essential for business owners to ensure that their business will survive, if not thrive, through a transition of leadership. In this video, we’ll cover why you need a plan and key components of a plan.

Equity Crowdfunding

All About Equity Crowdfunding

Authored By GreerWalker

Crowdfunding has become a relatively new way for businesses to raise capital. In this short video, you’ll learn how businesses are leveraging equity crowdfunding to raise capital from both accredited and non-accredited investors.

Contingency Planning for Business Owners

Contingency Planning for Business Owners

Authored By GreerWalker

All businesses face a variety of risks, which is why it’s important to have contingency plans in place to deal with unexpected events. In this video, you will learn 5 important steps to contingency planning for your business.

Internal Controls to Prevent Fraud

Top 7 Internal Controls to Prevent Fraud

Authored By GreerWalker

All companies are susceptible to and will likely experience fraud at some point. In this video, you will learn about simple and easy to implement controls and processes.

LLC vs S Corp

LLC vs S-Corp: What’s the Difference?

Authored By GreerWalker

If you’re starting or have already started your own business, you’ve probably heard about the advantages of incorporation. You’ll learn the differences between an LLC and S-Corp, and how both can be used together. We’ll also cover the benefits and tax implications of each.

Estate Planning Strategy

Strategies for Estate Planning

Authored By GreerWalker

With recent tax changes, it is important to make sure that you are making good choices as it relates to your Estate Plan. The Internal Revenue Service recently increased the estate tax exclusion. While this can be a big benefit, it’s important to have strategies in place to ensure you are protecting your assets.

Safe Harbor 401(k) Plan

Safe Harbor 401(k) Plans

Authored By GreerWalker

Safe Harbor 401(k) plans are the most popular type of 401(k) used by small businesses today. Here’s a great 3 minute video you don’t want to miss.

Opportunity Zones

All About Opportunity Zones

Authored By GreerWalker

Expecting a Capital Gain? You may be able to receive significant tax incentives for investing in an Opportunity Zone Fund. Here’s a great 2 minute video to find out more.

GreerWalker-Video-Cover-Cash-Balance-Retirement-Plans-CT-8541-2

Cash Balance Retirement Plans

Authored By GreerWalker

Cash Balance Retirement Plans are growing in popularity due to their high contribution limits and tax saving benefits. Here’s a great 2 minute video to find out more.

401(k) vs IRA Retirement Savings

Retirement Savings: 401(k) vs IRA

Authored By GreerWalker

There are key financial and tax advantages for both a 401(k) and an IRA, but you may not be maximizing the advantages of both. Watch Now to learn how you can optimize your savings for retirement.

Set Up a Trust

The Why and How of Setting Up a Trust

Authored By GreerWalker

There are many different options to provide for your loved ones and a trust may be the best option. Watch now to learn about each type of trust and the benefits they offer.

Video

Benefits of Hiring an Outsourced CFO GreerWalker

The Benefits of Hiring an Outsourced CFO

Authored By GreerWalker

When it comes to running any organization, proper financial management is critical. One of the most important decisions you’ll make is if and when to hire a Chief Financial Officer. While many organizations may not be ready for a full-time CFO, they may significantly benefit from hiring an outsourced CFO.

Cost Segregation Real Estate

How Cost Segregation Studies Help Real Estate Owners Defer Taxes

Authored By GreerWalker

Real estate owners who have purchased, constructed or renovated real estate should consider performing a cost segregation study to accelerate depreciation and defer income taxes. Watch now to learn more.

Protecting Wealth With a Life Insurance Trust

Protecting Wealth With a Life Insurance Trust

Authored By GreerWalker

A life insurance trust is an estate planning tool for maximizing the value of an estate passed to one’s heirs. Learn how a life insurance trust works and how it may help you protect wealth.

Valuing Your Business

Valuing Your Business

Authored By GreerWalker

A business valuation helps to determine the fair market value of a company and may be needed for a variety of reasons such as buying or selling a business, transferring equity, developing an estate plan or purchasing insurance. In this video, we’ll cover why you might need a valuation and the common methodologies used to determine value.

Leveraging A Spousal Lifetime Access Trust

Leveraging a Spousal Lifetime Access Trust

Authored By GreerWalker

The lifetime gift tax exemption is at an all-time high of $11.7 million per individual and $23.4 million per couple but may be reduced in the near future by potential legislation. This video provides an overview of the Spousal Lifetime Access Trust and how it can help couples maximize their lifetime gift tax exemption.

House Ways and Means Committee tax Changes

House Ways and Means Committee Proposed Tax Changes

Authored By GreerWalker

The House of Representatives Ways and Means Committee recently released draft legislation that would increase taxes to help pay for the proposed $3.5 trillion spending package. In this video, we briefly cover some of the more important proposed tax changes.

Form 1099-NEC

What You Need To Know About Form 1099-NEC

Authored By GreerWalker

In 2020, the IRS introduced Form 1099-NEC for reporting nonemployee compensation. Learn about Form 1099-NEC and how it differs from Form 1099-MISC.

Donor Advised Fund - GreerWalker Business Advisors

Donor-Advised Funds: Giving with a Tax Advantage

Authored By GreerWalker

If you donate to charitable organizations, you might want to consider establishing a donor-advised fund. A donor-advised fund is a charitable tax-saving tool that enables you to maintain a certain level of control over how funds are distributed while receiving immediate tax benefits.

Scenario Planning

Scenario Planning

Authored By GreerWalker

What if your organization was already prepared to respond to the challenges brought about by COVID-19? Scenario planning is a savvy management tool that helps organizations deal with the uncertain world in which we live.

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Succession Planning for Business Owners

Authored By GreerWalker

Succession planning is essential for business owners to ensure that their business will survive, if not thrive, through a transition of leadership. In this video, we’ll cover why you need a plan and key components of a plan.

Equity Crowdfunding

All About Equity Crowdfunding

Authored By GreerWalker

Crowdfunding has become a relatively new way for businesses to raise capital. In this short video, you’ll learn how businesses are leveraging equity crowdfunding to raise capital from both accredited and non-accredited investors.

Contingency Planning for Business Owners

Contingency Planning for Business Owners

Authored By GreerWalker

All businesses face a variety of risks, which is why it’s important to have contingency plans in place to deal with unexpected events. In this video, you will learn 5 important steps to contingency planning for your business.

Internal Controls to Prevent Fraud

Top 7 Internal Controls to Prevent Fraud

Authored By GreerWalker

All companies are susceptible to and will likely experience fraud at some point. In this video, you will learn about simple and easy to implement controls and processes.

LLC vs S Corp

LLC vs S-Corp: What’s the Difference?

Authored By GreerWalker

If you’re starting or have already started your own business, you’ve probably heard about the advantages of incorporation. You’ll learn the differences between an LLC and S-Corp, and how both can be used together. We’ll also cover the benefits and tax implications of each.

Estate Planning Strategy

Strategies for Estate Planning

Authored By GreerWalker

With recent tax changes, it is important to make sure that you are making good choices as it relates to your Estate Plan. The Internal Revenue Service recently increased the estate tax exclusion. While this can be a big benefit, it’s important to have strategies in place to ensure you are protecting your assets.

Safe Harbor 401(k) Plan

Safe Harbor 401(k) Plans

Authored By GreerWalker

Safe Harbor 401(k) plans are the most popular type of 401(k) used by small businesses today. Here’s a great 3 minute video you don’t want to miss.

Opportunity Zones

All About Opportunity Zones

Authored By GreerWalker

Expecting a Capital Gain? You may be able to receive significant tax incentives for investing in an Opportunity Zone Fund. Here’s a great 2 minute video to find out more.

GreerWalker-Video-Cover-Cash-Balance-Retirement-Plans-CT-8541-2

Cash Balance Retirement Plans

Authored By GreerWalker

Cash Balance Retirement Plans are growing in popularity due to their high contribution limits and tax saving benefits. Here’s a great 2 minute video to find out more.

Set Up a Trust

The Why and How of Setting Up a Trust

Authored By GreerWalker

There are many different options to provide for your loved ones and a trust may be the best option. Watch now to learn about each type of trust and the benefits they offer.

401(k) vs IRA Retirement Savings

Retirement Savings: 401(k) vs IRA

Authored By GreerWalker

There are key financial and tax advantages for both a 401(k) and an IRA, but you may not be maximizing the advantages of both. Watch Now to learn how you can optimize your savings for retirement.

Accounting

Greer Walker People

ASC 842 Post-Adoption Reminders

Authored By Ryan Poage, GreerWalker

In the complex world of mergers and acquisitions (M&A), a sell-side Quality of Earnings (QoE) report plays a crucial role in determining a company’s financial health and sustainability of its earnings. Far from being an unnecessary expense or an added complexity, a QoE report is a powerful tool that can provide key insights to both potential sellers and buyers, streamline the transaction process, and help maximize sale value.

Greer Walker People

The Corporate Transparency Act and Beneficial Ownership Reporting

Authored By GreerWalker

In the complex world of mergers and acquisitions (M&A), a sell-side Quality of Earnings (QoE) report plays a crucial role in determining a company’s financial health and sustainability of its earnings. Far from being an unnecessary expense or an added complexity, a QoE report is a powerful tool that can provide key insights to both potential sellers and buyers, streamline the transaction process, and help maximize sale value.

Right Time To Outsource Accounting

Is It Time To Outsource Accounting For Your Business?

Authored By GreerWalker

We know what you’re thinking, “Why do I need a new accounting provider? We could just do it ourselves.” That’s true, but giving your accounting to untrained employees can cost you time and money in the long run. Our clients come to us with a number of reasons they‘re ready to commit to our payroll […]

Hot To Choose Right Accounting Services For Your Business

Choosing The Right Accounting Services For Your Business

Authored By GreerWalker

While valuable, this ability to customize your accounting services can make it a little tricky to show how we structure our services so, to simplify things, we often explain it in terms of three standard levels of service. Generally, most organizations choose a level of service that lands within one of these three categories: Basic […]

Accounting Compliance and Standards 2022

Are You Keeping Up With Accounting Compliance And Standards?

Authored By GreerWalker

ASU 2016-02, Leases (Topic 842) This ASU provides new regulations which affect all organizations that lease assets, such as real estate, vehicles, and equipment. Previous standards differentiate reporting requirements based on whether an agreement is a capital lease or an operating lease. ASU 2016-02 changes this by requiring all leases with terms of more than […]

Benefits of Outsourced Accounting

7 Ways Outsourced Accounting Will Help Your Business

Authored By GreerWalker

Although many businesses consider outsourcing as a way to save time and money, they often discover many other benefits: More time to focus on other things By outsourcing the most time-consuming aspects of your accounting, you can free up that time to take care of the more important tasks needed to run and grow your […]

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