Tax, Accounting, and Business Insights

September is a great month to start implementing tax 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

Landmark CPAs is pleased to announce Garland & Greenwood CPAs will merge with Landmark CPAs, effective January 1, 2025. This merger brings together two highly respected firms, combining their extensive expertise and resources. Garland & Greenwood partners John Brock, Jake Froemsdorf, Rocky Goodman, and Greg Schichtl, along with 36 staff members, will join Landmark CPAs,

If you sell your home, you might be able to pocket up to a half million dollars in gain from the sale without owing any federal income tax. How? By claiming the home sale gain exclusion. But various rules and limits apply, so it’s important to understand the ins and outs of this tax break.

Partnerships are often used for business and investment activities. Multi-member LLCs are also treated as partnerships for tax purposes. A major reason is that these entities offer federal income tax advantages, the most important of which is pass-through taxation. They also must follow some special and sometimes complicated federal income tax rules, so it’s important

In the current business environment, many companies are finding it difficult — or prohibitively expensive — to secure the insurance coverage they need. One solution that may be worth exploring is to form or join a captive insurance company. Simply put, a captive insurance company is a licensed insurance company that’s owned and operated by

If you’re the owner of a pass-through entity, the taxes on real estate gains from the sale of business real estate or vacant land may be more complicated than you thought. Here’s a look at the issues. Let’s say you own real estate that has been held for more than one year and is sold

Get ready. The upcoming presidential and congressional elections may significantly impact the tax landscape for businesses in the United States. The reason has to do with a tax law that’s scheduled to expire in about 17 months and how politicians in Washington would like to handle it. How We Got Here The Tax Cuts and

Business owners, this article is for you: the new FLSA Worker Classification Rule — effective March 11, 2024 — impacts how you classify workers as independent contractors vs. employees.

Landmark CPAs is pleased to announce the promotion of four professionals to the position of member: John Albritton, JD Brashear, Krista Ferguson and Michelle Lewis. John Albritton, Little Rock, has been with Landmark for almost two decades, specializing in bond arbitrage services and tax compliance services for tax exempt organizations and employee benefit plans. He

Is your business using clean, or renewable, energy? You could qualify under the Inflation Reduction Act of 2022 (IRA) for renewable energy tax credits that reduce your federal tax liability. As part of IRA, the Investment Tax Credit (ITC) and Production Tax Credit (PTC) for businesses were both updated and extended and, in 2025, will expand even more — including direct pay and transfer options. In this article, we’ll detail the benefits offered and qualifications for each.

Are you buying a business that will have one or more co-owners? Or do you already own one fitting that description? If so, consider creating a buy-sell agreement. A well-drafted agreement can do these valuable things: Transform your business ownership interest into a more liquid asset, Prevent unwanted ownership changes, and Avoid hassles with the

If you’re selling business property used in your trade or business, you should understand the tax implications. There are many complex rules that can potentially apply. To simplify this discussion, let’s assume that the property you want to sell is land or depreciable property used in your business, and has been held by you for