FORT SMITH, Arkansas, October 19, 2022 – Landmark PLC, Certified Public Accountants is pleased to announce Hannah Oyler, CPA, was selected as a winner of the 2022 Arkansas Tech University 19 of the Last 9 award. Oyler was presented the award at ATU’s homecoming celebration on October 15. ATU’s 19 of the Last 9 recognizes
The fuel tax credit should not be overlooked by businesses looking to lower their tax bills or boost their refunds. It is applicable to fuel used for nontaxable purposes that were taxed at the federal level. When is the federal fuel tax applicable? The federal fuel tax is levied on consumers of gasoline, undyed diesel
A capital gains tax is a tax levied on the profit — a “gain” — of the sale of an investment. For example, let’s say you realize a $20,000 gain on a stock sold. You’ll owe capital gains tax on that profit for the tax year it was sold. The exact capital gains tax rate you
A recent law extended the Work Opportunity Tax Credit for hiring individuals from one or more targeted groups. Learn about WOTC eligibility in this article.
If you’re thinking about selling your home, it’s important to determine whether you qualify for the home sale gain exclusion. The exclusion is one of the most generous tax breaks in the tax code, so review its requirements before you sell. Home Sale Gain Exclusion Requirements When you sell real estate or other capital assets
September is a great month to start planning strategies that could reduce your small business taxes for this year and next. For the majority of businesses, the traditional year-end tax planning strategy of deferring income and accelerating deductions to minimize taxes will probably yield the most significant results. In addition, owners should consider bundling deductible
The updated lease accounting standard, released back in 2016, is finally taking effect this year for all organizations that haven’t already adopted it. You might be surprised at how many “leases” you have under the Financial Accounting Standards Board’s (FASB) Accounting Standards Update (ASU) 2016-02, Leases (Topic 842) — whether for real estate, vehicles, machinery
On August 16, President Biden signed the Inflation Reduction Act (IRA), which includes numerous provisions pertaining to taxes, energy and the environment. The effect of the law on big businesses has received a lot of media attention. For instance, the IRA imposes a new 15% alternative minimum tax on large, profitable corporations. The law also
If you are a small business owner, retirement planning may seem like a daunting task. But if you don’t have any employees and have steady self-employment income, a solo 401(k) might be the right option for you. This strategy is great for self-employed people, such as sole proprietors, members of single-member limited liability companies, and those who
Landmark PLC, Certified Public Accountants is pleased to announce the firm is the recipient of the Arkansas Society of CPAs 2021 Public Service Award for Firms. This is the fourth time the firm has received the award. The Public Service Award for Firms recognizes firms that have distinguished themselves in their public service contributions to