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Self-employed? Build a nest egg with a solo 401(k) plan

Do you own a successful small business with no employees and want to set up a retirement plan? Or do you want to upgrade from a SIMPLE IRA or Simplified Employee Pension (SEP) plan? Consider a solo 401(k) if you have healthy self-employment income...
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Inflation Reduction Act of 2022 – Summary Guide

On August 16, President Biden signed the Inflation Reduction Act (IRA) into law. The enormous bill—clocking in at 725 pages—contains a wide range of provisions and...
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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 2022 “Best Accounting Firms to...
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Cryptocurrencies – Speed Up or Get Out of the Way

By: Craig Armstrong, CPA – Miami Office Managing Partner With the advances in technology and access to information, many expect our collective knowledge to soon be...
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How do taxes factor into an M&A transaction?

Although merger and acquisition activity has been down in 2022, according to various reports, there are still companies being bought and sold. If your business is considering merging with or acquiring another business, it’s important to understand how the transaction will be taxed under...
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Important considerations when engaging in a like-kind exchange

A business or individual might be able to dispose of appreciated real property without being taxed on the gain by exchanging it rather than selling it....
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The kiddie tax: Does it affect your family?

Many people wonder how they can save taxes by transferring assets into their children’s names. This tax strategy is called income shifting. It seeks to take...
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Three tax breaks for small businesses

Sometimes, bigger isn’t better: Your small- or medium-sized business may be eligible for some tax breaks that aren’t available to larger businesses. Here are some examples....
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Colorado Retail Delivery Fee

By: Brandon McCafferty, JD/MBA – Senior Manager Effective July 1, 2022, Colorado imposed a novel retail delivery fee of $0.27 on all deliveries by motor vehicle...
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Remote employees’ transportation and travel to the office: taxable or nontaxable?

Many businesses are now allowing employees great flexibility to choose their work location. A common work arrangement allows an employee to regularly work remotely (e.g., from...
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