The Rebuild! VA Small Business Grant Program has made some changes. They’ve expanded eligibility requirements to any small business or nonprofit under $10 million in gross revenue or 250 or fewer employees and the grant can now be up to $100,000 (technically the lessor of $100,000 or 3 months of your business’ average reoccurring operating […]
Doug Urquhart Q&A with VSCPA
Doug Urquhart was interviewed with by the Virginia Society of Certified Public Accountants. Doug shares what he thinks makes our firm unique, and what has gotten us to our 15 year milestone. Read the interview here: https://www.vscpa.com/article/more-numbers-people
Tax Ramifications of Divorce
There are common tax issues that arise during a divorce. However, during such an emotional time, working through those tax issues could be the furthest thing from someone’s mind. Divorce attorneys are there to help with the physical separation of assets and to handle custody and support arrangements, but the tax implications of the agreements […]
HSA Tax Planning Tips
There can be a lot of confusion surrounding HSA Tax planning. Here are a few things to keep in mind. An HSA does not have to be through an employer. An individual can open an HSA account You must be enrolled in a high deductible plan to contribute to an HSA When looking for an […]
IRS Hobby Loss Rules
Is it a business or hobby? Are you launching a “side business”? Perhaps you hope to turn your love of writing or photography into a paying gig. Or maybe you’d like to sell some of that beer you’re brewing in the garage. If, like many start-up business owners, you’re operating at a loss, it’s critical […]
Become a Better Leader: How to Manage Introverts & Extroverts
You probably have some preconceived notions when it comes to the differences between introverts and extroverts. Introverts are quiet, shy, and keep to themselves, while their extroverted counterparts are outspoken, outgoing, and just seem to thrive around people. While some of this is true, people can fall anywhere along the spectrum, although they do tend […]
Company Reimbursement of Medicare Premiums
Do you have employees covered under Medicare? You can reimburse those employees under the Affordable Care Act, as long as certain requirements are met. The Affordable Care Act requires Applicable Large Employers (any Company that has an average of at least 50 full-time equivalent employees) to offer their employees coverage under a group health plan […]
Kelli Meadows Published in VSCPA’s “Member Thoughts”
The Virginia Society of Certified Public Accountants (VSCPA) has published Kelli Meadows’ article in their Member Thoughts series. Check out her article here.
New FLSA White Collar Overtime Exemptions
What does the new FLSA rule mean to you and your business? If your company has any employees, then you are likely familiar with wage and overtime pay rules under the Fair Labor Standards Act (“FLSA”) and the exemptions from those rules commonly referred to as the “white collar overtime exemptions.” The U.S. Department of […]
Do Construction Company Owners Qualify as a Real Estate Professional?
Owners of construction companies are often involved in other active areas of real estate such as fix-and-flip projects, property management and development to name a few. When these owners also acquire rental real estate as part of a buy-and-hold strategy, they may wonder if the tax losses typically generated by long-term rental properties (due to […]
