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Real Estate: Determining if a property is a business or an investment

If you own rental real estate, its classification as a trade or business rather than an investment can have a big impact on your tax bill. The distinction is especially important because of the 20% Section 199A deduction for certain sole proprietors and pass-through...
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TOP FIVE WORKPLACE COMPENSATION AND BENEFITS TRENDS

Many employers are giving employees greater flexibility to work alternative schedules, including hybrid arrangements (i.e., some in-person and some remote work) or continuing to work entirely...
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TAX AND PEOPLE IMPLICATIONS OF A REMOTE WORKFORCE

WHAT’S NEXT FOR EMPLOYMENT MOBILITY? The COVID-19 pandemic caused a shift in the working patterns of employees on an unprecedented scale. The success of remote working...
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Hancock Askew & Co. Named Among Accounting Today’s “Best Accounting Firms to Work for”

Hancock Askew & Co. LLP (Hancock Askew) is excited to announce that the firm was recently named as one of the 2021 “Best Accounting Firms to...
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Grey Bell- Partner, Colleague and Friend – 1981-2021

We are deeply saddened to announce that our Partner, Grey Bell, passed away on August, 29, 2021. Grey Bell was our partner, our friend, and a valued member of the Hancock Askew team and family. He was a great partner and person, highly intelligent...
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Hancock Askew & Co. Now Accepting Cryptocurrency as Payment

Hancock Askew & Co., LLP, a full-service audit, tax, accounting and advisory firm is excited to announce the firm is now accepting cryptocurrencies as payment for...
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Potential benefits of Section 1202 continue to grow

Section 1202 of the Internal Revenue Code is growing in popularity among investors and may become even more valuable in 2022. Section 1202 allows founders and...
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As 2022 draws near, taxpayers should consider compliance with amended Section 174

Since late 2017, taxpayers have been implementing the congeries of changes wrought by the most significant revisions to the Internal Revenue Code (IRC) in a generation,...
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IRS issues additional guidance on the employee retention credit

On August 4, 2021, the IRS issued Notice 2021-49, which provides long overdue guidance for employers that have taken or are considering taking the employee retention...
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CARES Act vs American Rescue Plan Act Funding

With the enactment of the Coronavirus State Fiscal Recovery Fund and the Coronavirus Local Fiscal Recovery Fund (Coronavirus Recovery Fund) established under the American Rescue Plan...
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