865.769.0660

News

When to Update Your Estate Plan

Estate planning isn't just for the rich and famous. Many people mistakenly think that they don't need an estate plan anymore because of the latest tax law changes. While it's true that the Tax Cuts and Jobs Act (TCJA) provides generous estate tax relief, even for...

read more

Changes in Partnership Audit Rules

At the beginning of 2018, new partnership audit rules went into effect that make substantial changes to the way partnerships will be audited by the Internal Revenue Service.  Partnership tax years beginning on or after January 1, 2018 will be subject to these rules. ...

read more

Section 199A–IRS Safe Harbor and Your Rental Property

Section 199A—IRS Safe Harbor and Your Rental Property, What You Need to Know Background: The Tax Cut and Jobs Act allows a deduction to a non-corporate taxpayer for up to 20% of Qualified Business Income (“QBI”). Click here for a more detailed discussion of the...

read more

Tax Figures for 2019

Important federal tax information for 2019 as compared with 2018. Please note, some of the dollar amounts are unchanged and some have increased slightly due to inflation. As always, reach out to your Pugh CPAs advisor if you have questions.

read more

Important Tax Deadlines for Q1 2019

This is meant to be a handy reference reminder for Q1. If you have any questions please feel free to reach out to your Pugh CPAs advisor. January 31: File 2018 Forms W-2, "Wage and Tax Statement," with the Social Security Administration and provide copies to your...

read more

Financial Statement Adjustments in Valuation

The value of a business is not directly determined by its historic performance. Instead, investors are more interested in the economic benefits the business will generate in the future. Past performance is only relevant to the extent that it demonstrates trends and is...

read more

Evaluating a Business Valuation Report

Anyone with a little business and financial knowledge can do a quick-and-dirty calculation using a industry rule of thumb, such as multiple of annual sales or earnings. But experienced valuation professionals apply tested valuation approaches that are based on real...

read more

The Impact of the Wayfair Decision

The recent Wayfair decision has drastically altered the landscape for states that want to collect sales and use taxes. In short, this ruling undid decades of precedent and stated that a business does not have to have any physical presence in a state in order for that...

read more

Vacation Home Rentals and Reporting Income under Tax Reform

Do you own a vacation home that's rented out but also used for a significant amount of time by you personally? Such properties are subject to tax rules that are different from those that apply to properties rented out with minimal personal use. Here's how to optimize...

read more

Archives

Ready to take the next step?

Let's Get Started
SUBSCRIBE TO OUR NEWSLETTER

SUBSCRIBE TO OUR NEWSLETTER

Join our mailing list to receive the latest news and updates from our team.

You have Successfully Subscribed!