Kendal Diehl

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So far Kendal Diehl has created 127 blog entries.

Top 20 CPA and Advisory Firm Carr, Riggs & Ingram (CRI) Welcomes 17 New Partners

ENTERPRISE, AL – Top 20 CPA and advisory firm Carr, Riggs & Ingram, LLC (CRI) has named 17 new partners. “At CRI, we recognize the capacity in which we are considered leaders in our profession and we have not only the staff but also the partner group to reflect that. We understand the direction that our [...]

2020-01-08T16:20:27-05:00January 8th, 2020|PRESS RELEASES|

When Does a Hobby Become a Business?

Many people enjoy hobbies that are also a source of income. From painting and pottery to scrapbooking and photography, these activities can be sources of both fun and finances. If you start to make money from a hobby, you will need to report that income on your tax return. Until 2018, certain hobby expenses were [...]

2020-01-08T12:32:04-05:00January 8th, 2020|INDIVIDUAL TAX|

Understanding Tax Credits for Education Expenses

The Tax Code includes two credits that can help taxpayers reduce higher education costs: the American opportunity tax credit (AOTC) and the lifetime learning credit (LLC). You can claim both credits on the same return, but not for the same student or the same qualified expenses. The two credits have numerous characteristics in common, but [...]

2020-01-08T09:47:52-05:00January 8th, 2020|Uncategorized|

Make Digital Assets Part of Your Estate Plan

Knowing where your assets will go when you pass on and how you can protect them are important topics to bring up with your advisors during your year-end tax planning session. Although you won’t need to completely overhaul your estate plan from year to year, you should tweak it to address changes in your environment [...]

2020-01-08T09:10:53-05:00January 8th, 2020|INDIVIDUAL PLANNING|

What You Need to Know About the Home Office Deduction

Working from home is becoming more and more popular. And while W-2 employees are no longer eligible to deduct their home expenses, those who own or co-own a business can take advantage of the deduction. Here’s what you need to know about the home office deduction and how you might be able to use it [...]

2020-01-07T13:31:00-05:00January 7th, 2020|INDIVIDUAL TAX|

New Tax Provisions Introduced by the Further Consolidated Appropriations Act, 2020

On Friday, December 20, 2019, the President signed the Further Consolidated Appropriations Act, 2020 (the “Act”) which addresses several tax provisions such as retirement plan funding and distribution reform, items related to expiring or expired tax provisions (“tax extenders”), and disaster tax relief. RETIREMENT PLAN FUNDING AND DISTRIBUTION REFORM The Act also includes the SECURE [...]

2019-12-26T08:43:22-05:00December 20th, 2019|INDIVIDUAL TAX|

New 2020 Form W-4: What Employers Need to Know

The Tax Cuts and Jobs Act of 2017 overhauled numerous provisions of individual tax law, including reducing statutory tax rates amongst the different income tax brackets and suspending personal exemption amounts. These changes required employers to adjust their employees’ withholdings with revised tax tables while using the historical Form W-4. These law changes, combined with [...]

2019-12-19T12:30:40-05:00December 19th, 2019|BUSINESS TAX, INDIVIDUAL TAX|

It’s Never Too Late: See How You Can Cut the Bill for Your 2019 Taxes

With the latest change of seasons, that means that filing your tax return is right around the corner and will require your full attention very soon. Although there were a number of tactical strategies proposed and utilized during the most recent tax filing season under the latest changes from the Tax Cuts and Jobs Act [...]

2020-01-22T16:35:12-05:00December 16th, 2019|INDIVIDUAL TAX, Uncategorized|

CRI FORT PIERCE – Christopher Fogal: IBEX Marine Show

CRI Partner Christopher Fogal recently presented during a session at the IBEX Marine Show on October 1, 2019. Christopher's presentation covered the recent tax law and benefits as it related to manufacturers as well as qualified income deduction, DISC, and more.

2019-12-06T10:56:26-05:00December 6th, 2019|Around Town|

CRI EL PASO – Michael White: Why Cybersecurity Matters

CRI Partner Michael White will be presenting at an El Paso Chamber of Commerce educational event on December 19, 2019. Michael's presentation will discuss the importance of cybersecurity and why it should be such a high priority within an organization.

2019-12-06T10:49:52-05:00December 6th, 2019|Around Town|

CRI MELBOURNE – Yvonne Clayborne: FGFOA Central Florida Chapter Meeting

CRI Partner Yvonne Clayborne will be presenting at the Central Florida Chapter of the Florida Government Finance Officers' Association (FGFOA) Chapter Meeting on February 21, 2020. Yvonne’s presentation will cover the key components of GASB Statement No. 87, considerations in implementation and practical exercises, and provide the tools necessary to develop an implementation plan for the [...]

2019-12-06T10:54:01-05:00December 6th, 2019|Around Town|

Have You Updated Your Charitable Giving Plans?

The U.S. government has a long history of encouraging its citizens to donate to charity. More than a century ago, the government began subsidizing charitable giving by allowing taxpayers to deduct donations they made to eligible nonprofit organizations. But since the 2017 Tax Cuts and Jobs Act (TCJA) raised the standard deduction, far fewer individuals [...]

2019-12-18T11:57:02-05:00November 19th, 2019|INDIVIDUAL TAX|

Why a Donor-Advised Fund is Worth Considering This Giving Season

Charitable giving has solidified its place among the top tax planning strategies, allowing donors to give to a good cause while receiving a significant tax deduction in return for their generosity. The higher standard deduction set in place by the Tax Cuts and Jobs Act will result in fewer taxpayers seeing a benefit from itemizing [...]

2019-12-02T10:49:15-05:00November 19th, 2019|INDIVIDUAL TAX|

Is It Time to Review Previous Depreciation Elections in Light of IRS Bonus Depreciation Guidance?

The Tax Cuts and Jobs Act (TCJA) included a number of provisions that expanded depreciation benefits. One of the most generous was the increase in first-year depreciation to 100% for qualified property placed in service through 2022. After 2022, the bonus expensing percentage is scheduled to reduce gradually until it sunsets in 2027. The IRS [...]

2019-11-18T16:07:38-05:00November 18th, 2019|BUSINESS TAX|

A Rare Gift: The 199A Deduction for Qualified Business Income (QBI)

The Section 199A deduction introduced by the Tax Cuts and Jobs Act is something of a rarity in tax law. Unlike other tax deductions, you don’t have to buy anything to qualify. Many self-employed taxpayers get this 20% deduction just by making money in a qualified trade or business. To be eligible for the qualified [...]

2019-12-02T10:56:40-05:00November 18th, 2019|BUSINESS TAX|

Accelerate Depreciation Deduction by Engaging in a Cost Segregation Study

If your business currently or historically acquires, constructs, or substantially improves buildings, it may be pertinent for you to consider engaging in a cost segregation study. By combining accounting and engineering techniques, these studies identify building costs related to tangible personal property rather than real property. You may be able to accelerate depreciation deductions, which [...]

2019-11-06T21:01:01-05:00November 6th, 2019|BUSINESS TAX|

Post-TCJA Year-End Tax Planning for Businesses

Many businesses struggled with uncertainty this past tax-filing season as the newly-passed Tax Cuts and Jobs Act (TCJA) had significant changes for their bottom lines. With the upcoming tax filing season right around the corner, incorporating lessons learned from last year can help with the year-end tax planning for your business. There are a number [...]

2019-11-05T16:58:32-05:00November 5th, 2019|BUSINESS TAX|

IRS Finalizes QBI Safe Harbor Rules for Rental Real Estate Enterprises

The IRS has released guidance outlining a safe harbor that allows certain rental real estate enterprises to be treated as a trade or business for purposes of the 20% qualified business income (QBI) deduction enacted under section 199A of the Internal Revenue Code. The safe harbor is available for taxpayers who attempt to claim the [...]

2019-10-31T16:30:33-04:00October 31st, 2019|BUSINESS TAX|

Carr, Riggs & Ingram Capital Advisors, LLC Assists Sullivan & Sons, Inc During Investment by PinHigh Capital Partners

MONTGOMERY, Ala., October 24, 2019 - Carr, Riggs & Ingram Capital Advisors, LLC (CRI Capital Advisors) is pleased to announce that PinHigh Capital Partners has completed a significant investment in Sullivan and Sons, Inc. Sullivan and Sons is a leading manufacturer and remanufacturer of high-quality control valves, as well as a distributor of instrumentation used [...]

2019-10-24T10:18:24-04:00October 24th, 2019|PRESS RELEASES|

Carr, Riggs & Ingram (CRI) Partner Byron Shinn is Appointed to the AICPA Tax Practice and Procedures Committee (TPPC)

BRADENTON, Fla., October 24, 2019 - Byron Shinn, the partner-in-charge of CRI’s Bradenton and Sarasota offices, has recently been appointed to the American Institute of Certified Public Accountants (AICPA) Tax Practice and Procedures Committee (TPPC) for the 2019-2020 volunteer service year. The TPPC monitors developments in and changes to IRS procedural and administrative guidance and [...]

2019-10-24T10:19:19-04:00October 24th, 2019|PRESS RELEASES|