This article explains that the current state of the economy and the Covid-19 pandemic has drastically changed the way consumers behave. It’s extremely important for small businesses to capitalize on digital transformations. A Bill.com survey showed that “75% of SMBs took actions ranging from price...
This article explains that bonus depreciation rules have been changed over several years. In 2016 and 2017, under the IRS Revenue Proclamation (Rev. Proc.) 2019-33, Section 5.02 Section – Deemed Election states: “a taxpayer that timely filed its federal tax return for the 2016 taxable...
Blackman & Sloop is pleased to announce the addition of Sarah Benoist to our professional team. Benoist joins the firm as an associate and will work in the Audit Department. She previously completed a summer internship with Blackman & Sloop where she spent time learning about...
The local accounting firm of Blackman & Sloop, CPAs, P.A. is pleased to announce the promotion of Robert Lewis, CPA to partner. Rob has served Blackman & Sloop for more than two decades—he joined the firm in 1998 as an associate accountant. He specializes in providing...
This article explains that the Biden Administration has proposed a federal gas tax holiday in order to help US citizens with the current gasoline prices. Unfortunately, Patrick De Haan, head of petroleum analysis at GasBuddy, said “if a gas tax holiday coincides with rising wholesale...
Working in the accounting field is a demanding job. The hours are long, the deadlines are many, and constantly changing regulations means the work just gets more complicated. But wait! We’re not trying to scare you off. Though these are real aspects of the field,...
By: Adrienne Collins, Audit Senior Associate It’s one thing to have a job that pays the bills; it’s another to find work that both pays the bills and gives you fulfillment and satisfaction in your life. Sometimes out of necessity you end up doing the former...
This article explains some tax-avoiding strategies that the IRS will be flagging down. Some strategies include “concealing assets in offshore accounts and improper reporting of digital assets, non-filing of income tax returns by high-income individuals, abusive syndicated conservation easements, and abusive micro captive insurance arrangements.”...
This article explains the significant benefits that startups in 2022 receive when using R&D tax credits. For companies to qualify for R&D tax credits, their ideas must be a new or improved business component for a permitted purpose, include activities technological in nature, have elimination...
This article explains the best money-saving methods for travelers hitting the road this summer. All 50 US states have hit the $4 per gallon mark, and the national average is currently at $4.59. According to AAA spokesperson Andrew Gross, “gas prices are now $1.56 more...
