CRI Partner David Habib was part of a discussion at the Ortiz Center in Corpus Christi, Texas on January 2nd, 2020. He revisited, through detailed discussion, the key changes made to the Tax Cuts and Jobs Act to members of the Kiwanis Club and their guests.
The IRS has announced acceptance rates for a time-limited settlement offer made to certain taxpayers under audit who participated in abusive micro-captive insurance transactions. Nearly 80% of taxpayers who received offer letters elected to accept the settlement terms. The settlement offer followed three U.S. Tax Court decisions confirming that certain micro-captive arrangements are not eligible [...]
CRI MELBOURNE – Deborah Goode: Government Contract Advisory Team Networking Event and Cyber Security
CRI Partner Deborah Goode organized an event at the Cocoa Beach Chamber Office on January 23rd, 2020. The invitation only event was coordinated for government contractors doing business in Brevard County to network and learn more about Government Contract Advisory Team (GCAT) member services and Cybersecurity Maturity Model Certification (CMMC) requirements.
Tax-exempt organizations will be required to electronically file information returns and related forms starting in 2020. The Taxpayer First Act, enacted July 1, affects tax-exempt organizations in tax years beginning after July 1, 2019. Exempt organizations that file on a calendar-year basis will not be subject to the mandate for the year that ends Dec. [...]
IRS Announces Relief for Financial Institutions Affected by Tax Law Change Raising the Age for Required Minimum Distributions
A new law enacted late in 2019 made a significant change in the minimum distribution requirements for individual retirement accounts (IRAs). The “Setting Every Community Up for Retirement Enhancement” (SECURE) Act became effective on December 20, 2019, and it raised the required minimum distribution (RMD) age from 70½ to 72 for individuals who will reach [...]
Business growth requires investment. But how do you know how much you can afford to spend at any given time? Without an accurate and up-to-date cash flow report, you’re really just guessing. So when opportunities come up — say, a deal on a new truck — you’re making important business decisions without all the facts. [...]
CRI Partner Joyce Ruggeri spoke at the Treasure Coast Dental Society meeting that was held at the Legacy Golf & Tennis Club in Port St, Lucie, Florida on January 27th, 2020. She discussed the upcoming deadlines for 1099s and gave a brief review of payroll and the rules involved.
CRI Partner Taylor Jackson presented at the 2019 Annual Tax Workshop held at Northwest Florida State College on December 6th, 2019. His presentation covered Section 199a of the tax policy update.
CRI Partner Don Maples presented at the Alabama Medical Directors Association event in Birmingham on January 25th, 2020. He presented the PDPM reimbursement to the Medicare directors of Skilled Nursing Facilities.
CRI Partner Don Maples stationed a booth at the trade show hosted by the GHCA in Alpharetta, Georgia on February 3rd, 2020. An array of skilled nursing facilities attended the event aimed at presenting consultation services.
CRI Partner James Wright spoke to the local Niceville Rotary Club at the Props Ale House in Niceville, FL on January 27th, 2020. This discussion revolved around the recent changes to tax laws in 2019 and 2020.
Changes to California law involving a worker’s status (independent contractor vs. employee) have gained much attention from companies with operations in California. Before April 2018, a worker’s status was based on a multi-factor test outlined in S.G. Borello & Sons, Inc. vs. Department of Industrial Relations. Last year, the California Supreme Court in Dynamex Operations [...]
CRI TAMPA BAY – David Sietsma: Synapse Summit 2020 – Exit Strategies: Preparing Your Business For Sale
David Sietsma, a CRI Partner, will be presenting on February 12th, 2020 at the Amalie Arena in Tampa, Florida. His presentation will consist of a three person panel discussing the formulation process of exit strategies in regards to selling your business.
CRI NASHVILLE – Deanna Dibin: TN Bankers Association Credit Conference Workshop: Qualified Opportunity Zones: What, Why, Where
CRI Partner Deanna Dibin will be one of the speakers in a workshop at the Omni Hotel in Nashville, TN on February 13th, 2020 for the Tennessee Bankers Association Credit Conference. This workshop will help outline incentives and investing for Qualified Opportunity Zones and define where they are located throughout the state.
CRI Partner Robert Demonbreun will be speaking on February 13th, 2020 at the Omni Hotel in Nashville, TN in accordance with the Tennessee Bankers Association Credit Conference. This discussion led by Rob and 4 other panelists will cover underwriting, documentation, risk rating monitoring, workouts, and restructuring. You will hear best practices and war stories regarding [...]
CRI Partner Todd Hitchins spoke to business professionals at the Citrus Club in Orlando, Florida on January 15th, 2020. This session discussed when and why cost segregation can affect anyone buying or improving commercial property.
The Internal Revenue Service has issued final regulations (T.D. 9889) providing details about the tax treatment of investments in qualified opportunity zones (QOZs). This guidance modifies and finalizes proposed regulations that were issued on Oct. 28, 2018, and May 1, 2019. The Tax Cuts and Jobs Act (TCJA) created the opportunity zone as a new incentive for [...]
Contrary to what many people believe, free money isn’t given out to individuals and businesses to help jump-start a venture or tie down loose ends. Instead, grants are offered for certain ideas and projects that have proven to be able to provide public service to a community or stimulate the economy. Grants are financial aid [...]
What is a Service Organization? A service organization is any entity that provides a service to another entity that traditionally has been performed (or can be performed) within the entity. A list of commonly used service organizations in the government sector include: investment custodians, IT cloud services, receivable collections, insurance claims processing, payroll services, bill [...]
The IRS released final guidance this fall to help taxpayers figure out when rental real estate activities might qualify as a “trade or business” for purposes of the Section 199A 20% qualified business income (QBI) deduction. The final guidance sets forth four requirements that, when met, provide a taxpayer with some assurance that the IRS [...]