2016 Year-End Planning: Strategies– Part V

 Special Report 2016 Year-End Strategies: Straddling Two Years Of Significant Change Implementing tax strategies at year-end always presents unique challenges and opportunities. The impact of recent tax legislation and significant IRS rule changes during 2016 raises the stakes. The Protecting Americans from Tax Hikes Act (PATH Act), passed in late 2015, changed —both dramatically and… Read more »

Fall 2016 – Recent Developments That May Affect YOUR Tax Situation

The following is a summary of important tax developments that have occurred in the past three months that may affect you, your family, your investments, and your livelihood. Please call us for more information about any of these developments and what steps you should implement to take advantage of favorable developments and to minimize the… Read more »

2016 Year-End Planning: When C Corporations Should Defer or Accelerate Income– Part IV

As year end approaches, C corporations, like individuals, should decide when and how to shift income and deductions between 2016 and 2017. Although C corporations will generally benefit from the deferral of income and the acceleration of deductions in the same way as individuals, there are a number of special rules that should be taken… Read more »

Our employees are using mobile apps – does that affect our organization’s security?

Your organization is becoming trendy and everyone is using smart phones. Hey! There’s a new app that accepts payments on smart phones… oooh, and it can transfer funds. Hold on! What are you getting yourselves into? How does the use of smart phones affect an organization’s security? The short answer is – be careful. For… Read more »

Larson & Company Offers Insurance Fraud Prevention and Detection Services

Insurance is a major industry designed to protect companies, properties and individuals alike. Unfortunately, insurance fraud can also be an issue that ultimately limits your company’s bottom line. Here at Larson & Company, we understand that insurance fraud and prevention might not be within the immediate scope of focus for your business. To increase your… Read more »

Simplified per-diem rates increase for post-Sept. 30 business travel

The IRS has issued a new notice carrying the “high-low” simplified per-diem rates for post-Sept. 30, 2016 travel. The high-cost area per-diem increases $7, and the low-cost area per-diem increases $4, from the prior simplified per-diems.   Observation: In the past, the IRS supplied the changed per-diem rates in an annual update of a revenue… Read more »

Year-end planning: Make best use of quick writeoffs for capital goods purchases—Part III

Enterprises planning to purchase machinery and equipment during the remainder of this year or early next year should try to accelerate their buying plans, if doing so makes sound business sense. This is the final installment of a 3-part year-end planning article on how businesses may be able to lock in accelerated deductions by buying… Read more »

Year-end planning: Make best use of quick writeoffs for capital goods purchases — Part II

Enterprises planning to purchase machinery and equipment during the remainder of this year or early next year should try to accelerate their buying plans, if doing so makes sound business sense. This is the second installment of a 3-part Special Study on how businesses may be able to lock in accelerated deductions by buying qualifying… Read more »

Year-end planning: Make best use of quick writeoffs for capital goods purchases—Part I

Businesses that want to accelerate year-end deductions by buying machinery and equipment have a formidable array of tax tools to work with this year: generous expensing under Code Sec. 179; an expensing safe harbor under the capitalization regs that has been liberalized for smaller businesses; and 50% bonus first-year depreciation for those eligible new assets… Read more »

Substantial Not-for-Profit Reporting Changes Recently Announced

After years of discussion and debate the Financial Accounting Standards Board (FASB) issued Accounting Standards Update 2016-14 Not-for-Profit Entities (Topic 958) Presentation of Financial Statements of Not-for-Profit Entities in August 2016. The new standard represents Phase 1 of the project, with no definite time frame for Phase 2.  Here is your summary guide to the… Read more »