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IRS Boosts Standard Cents-per-Mile Rates For July 1 Through December 31, 2022

For the final six months of 2022, the standard mileage rate for business travel will increase by 4 cents per mile, from 58.5 to 62.5 cents per mile, according to IRS Announcement 2002-13. The rate for deductible medical or moving expenses will likewise increase...
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Help when needed: Apply the research credit against payroll taxes

Here’s an interesting option if your small company or start-up business is planning to claim the research tax credit. Subject to limits, you can elect to...
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Is it a good time for a Roth conversion?

The downturn in the stock market may have caused the value of your retirement account to decrease. But if you have a traditional IRA, this decline...
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Invest: Insights Interview – The Need for Creative Thinking featuring Craig Armstrong

Craig Armstrong, our Miami Office Managing Partner, understands the need for creative thinking when handling different clients’ various challenges and needs. In an interview with Capital Analytics’...
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Valuable gifts to charity may require an appraisal

If you donate valuable items to charity, you may be required to get an appraisal. The IRS requires donors and charitable organizations to supply certain information to prove their right to deduct charitable contributions. If you donate an item of property (or a group...
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Biden Administration’s FY 2023 Budget Plan Calls for Corporate, High-Net-Worth Individuals Tax Hikes

The Biden administration’s fiscal year 2023 budget blueprint, released on March 28, consists of a mix of familiar proposals and brand-new initiatives that reflect the President’s...
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Recent Court Decision Reaffirms Importance of Adequately Documenting Deductible Management Fees

In October 2021, the Internal Revenue Service (IRS) formally launched the Large Partnership Compliance (LPC) Pilot Program. The LPC program represents a focused effort on the...
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Hancock Askew & Co. is Proud to Announce the Promotion of a Partner & Five Principals

Georgia and Florida (May 19, 2022) – Hancock Askew & Co., LLP, a full-service audit, tax, accounting and advisory firm is proud to announce the promotion...
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Hancock Askew & Co. is honored as a 2022 Atlanta’s Best and Brightest Companies to Work For®

Atlanta, GA (May 6, 2022) – Hancock Askew & Co. LLP (Hancock Askew) proudly announces it is a 2022 winner of Atlanta’s Best and Brightest Companies...
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Tax issues to assess when converting from a C corporation to an S corporation

Operating as an S corporation may help reduce federal employment taxes for small businesses in the right circumstances. Although S corporations may provide tax advantages over...
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