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How the New Limit on SALT Deductions Affects Homeowners

The ability to deduct state and local taxes (SALT) has historically been a valuable tax break for taxpayers who itemize deductions on their federal income tax returns. Unfortunately, the Tax Cuts and Jobs Act (TCJA) limits SALT deductions for 2018 through 2025. Here's...

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Tax Reform Update for Individuals & Businesses

It's always a great time when we gather with our clients!  It's even better when you have a dynamite speaker presenting a tax reform update and how it affects individuals and businesses.  Did I say dynamite speaker and tax reform in the same sentence?  You bet, I did!...

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The W-2 Email Scam (from IRS)

Using a technique known as business email compromise (BEC) or business email spoofing (BES), fraudsters posing as authority figures send email to payroll personnel requesting copies of Forms W-2 for all employees. The initial email may be a friendly, "hi, are you...

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The Insight–A Business Valuation Newsletter (Winter ’17)

The Insight--Pugh CPAs' Business Valuation & Litigation Support quarterly newsletter.   The Winter 2017 issue feature two articles of interest: Surviving an Earnout Provision in a Business Sale and Valuation in Shareholder Disputes.   Please click the safe link...

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Proposed Tax Legislation Impacts Financial Institutions

Executive Summary: The much-debated tax reform proposal currently under consideration may have unexpected impacts to many financial institutions.   As drafted, both the House and Senate bills include a corporate rate reduction for federal income taxes from 35% to...

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Proposed Tax Cuts & Jobs Act

The Republican controlled House of Representatives unveiled their first draft at tax reform on November 2, 2017.  The 429 page H.R. 1 bill proposes significant changes to individual, business, gift and estate taxes.  The House Ways and Means Committee also released a...

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Before Year-End, Get The Most Out of Your FSA

If you have money set aside in a Flexible Spending Account (FSA), you know it's a great tax saving vehicle. Not only are your FSA contributions not taxed, but you don't have to wait until you have enough money in the account for a planned medical expense, such as...

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