Business Archives - Pugh CPAs

The Qualified Business Income Tax Deduction

By Pugh CPAs | June 17, 2021

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.

RSM US Middle Market Business Index Eases Slightly in May but Overall Remains Strong as the Economy Continues to Reopen

By RSM US LLP | June 10, 2021

RSM today announced results of the May 2021 reading for its RSM US Middle Market Business Index (MMBI).

G7: Groundbreaking steps to a 15% global minimum tax

By RSM US LLP | June 7, 2021

During conversations on Saturday June 5, 2021, the G7 made historic strides toward multilateral agreement on a 15% global minimum tax rate.

A Biden tax plan update: What, when and how?

By RSM US LLP | June 4, 2021

New details of President Biden’s tax plan are shaping congressional negotiations and middle market considerations.

White House releases President’s budget, Treasury Greenbook

By RSM US LLP | June 1, 2021

Administration issues Presidential priorities and pay-fors. Corporations and wealthy individuals face prospect of increasing tax rates.

Budget Reconciliation – A Potential Path for President Biden’s Plans

By Pugh CPAs | May 25, 2021

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 economic index from RSM shines a light on the middle market

By RSM US LLP | May 17, 2021

Five years ago, RSM launched an innovative economic indicator called the RSM US Middle Market Business Index.

IRS will audit more LLCs claiming self-employment tax exemption

By RSM US LLP | May 14, 2021

IRS warns taxpayers claiming self-employment tax exemption under IRC section 1402(a)(13) to be mindful of adverse Tax Court precedent.

IRS extends May 17, 2021 due date for victims of Tennessee storms

By RSM US LLP | May 14, 2021

IRS postpones certain filing, payment and other deadlines for taxpayers affected by Tennessee storms, wind, tornadoes, and flooding.

Understanding a $2 trillion infrastructure project

By RSM US LLP | May 4, 2021

A closer look at the Biden administration’s proposal and how it can improve productivity and, ultimately, raise living standards.

First-quarter GDP: Growth improves as the recovery accelerates

By RSM US LLP | May 4, 2021

It's essential that the fiscal and monetary authorities follow through on current policy paths for the economy to return to full employment.

Economic activity accelerates heading into spring

By RSM US LLP | May 4, 2021

March was another strong month for risk assets, especially in the U.S. as vaccine manufacturing and distribution ramped up.

The American Families Plan

By Pugh CPAs | May 2, 2021

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.