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2021 year-end tax considerations for businesses
This RSM US, LLP year-end planning guide reflects the tax considerations and developments that we believe may create risk or opportunity for businesses in 2021 and beyond. It is not an exhaustive list of all tax issues that may affect your business, but it is designed to help you make informed decisions related to year-end tax planning.
Pugh in the Press!
The team at Pugh CPAs completed a total office renovation just in time for a pandemic to hit! While we've been back in the office for months now, we've not yet hosted our big open house! In the meantime, check out this great article highlighting our upgrades!
Leveraging a Spousal Lifetime Access Trust
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.
SBA Enhances the Economic Injury Disaster Loan Program
The SBA has modified and enhanced the Economic Injury Disaster Loan (EIDL) program to expand both eligibility and program benefits. In this video, we'll quickly cover the changes and how they might help you and your business.
House Ways and Means Committee Proposed Tax Changes
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.
New Partners Announced
The Board of Directors is very pleased to announce the following team members have been promoted to Vice President of Pugh CPAs effective immediately: Brandon Barry, Jacob Pratt, and Kristin Garrett.
Tax Benefits of Opportunity Zone Funds
The proposed plan to increase long-term capital gains tax rates has motivated investors to seek opportunities to defer and reduce capital gains taxes. Opportunity Zone Funds have been increasing in popularity because of their ability to defer and reduce capital gains. Watch now to learn more about Opportunity Zone Funds.
Preventing and Addressing Fraud in Your Business
Fraud is a significant problem across businesses of all sizes. Here's a great video on steps you can take to prevent and address fraud in your business.
10 Recruiting Strategies for a Tight Labor Market (Part 2)
Recruiting is one of the most important functions of any company, especially in a tight labor market. In this second of a two-part series, we will cover 5 more tips and strategies to help improve your success in attracting and hiring qualified candidates for your company.
10 Recruiting Strategies for a Tight Labor Market (Part 1)
Recruiting is one of the most important functions of any company, especially in a tight labor market. In this video, we will cover 5 tips and strategies to help improve your success in attracting and hiring qualified candidates for your company.
Advance Child Tax Credit Payments
The American Rescue Plan expanded the Child Tax Credit and provided a mechanism for families to receive advance payments for the credit. In this video, we will provide an overview of the Child Tax Credit and the advance payments that will begin this summer.
The Qualified Business Income Tax Deduction
The Qualified Business Income (QBI) Deduction can reduce an individual's tax liability on pass-through income by as much as 20% of taxable business income from the entity. Here's a great 3-minute video to find out more.
Budget Reconciliation – A Potential Path for President Biden’s Plans
President Biden has proposed the American Jobs Plan and the American Families Plan, but a closely divided senate makes it challenging to turn these bills into law. In this video, we’ll discuss the budget reconciliation process as a possible path.
The American Families Plan
On April 28, 2021, President Biden introduced the American Families Plan, a $1.8 trillion spending plan that includes tax increases on high-income taxpayers to help offset its costs. In this video, we will quickly cover potential changes to the tax law that, if enacted, may affect you and your family.
Tax Strategies for Real Estate Owners
In addition to appreciation and income generation, rental real estate can provide many tax benefits. In this video, we will cover some of the more attractive tax strategies for real estate owners.