As the year-end approaches, individuals, business owners and family offices should be reviewing their situations to identify any opportunities for reducing, deferring or accelerating tax obligations. Areas that should be looked at in particular include tax reform provisions that remain in play, as well as new opportunities and relief granted earlier in 2020 under the…
On November 18, the Internal Revenue Service (IRS) released Revenue Ruling 2020-27 and Revenue Procedure 2020-51. The two releases offer clarification regarding the non-deductibility of expenses that contribute to the forgiveness of loans from the Paycheck Protection Program (PPP). Author Sally Schreiber breaks down the contents and significance of the two releases in an article…
Greg Whicker discusses required minimum distributions (RMDs) and why they are important to understand.
Tax Manager, Sam Leverett, speaks with Mike Dalman on how McGuire Sponsel can help BGBC’s clients. McGuire Sponsel is a national specialty tax consulting firm specializing in R&D tax credits, cost segregation and export tax incentives.
The Indianapolis-based CPA and advisory firm BGBC Partners, LLP is pleased to announce the addition of Skyler Rodts to their professional team. Skyler joins as a Staff Accountant in the Emerging Business Solutions department. Skyler is currently a student at Indiana University – Purdue University Indianapolis where he is studying accounting. Prior to BGBC, Skyler…
For the first time in decades, skyrocketing insurance costs threaten the ability of businesses to follow through on their growth and expansion plans—and sometimes even to meet their basic obligations. Even before the global pandemic, businesses were facing steep increases in premiums coupled with dramatic reductions in coverage. This situation was only worsened by the…
Although companies that have managed to survive up to this point will have overcome immediate safety and cashflow problems, they still face an uncertain future. No one can predict how long the downturn will last, whether the world will revert into crisis mode or whether the path towards long-term recovery has begun. Despite the persistent…
There’s no question the global pandemic of 2020 quickened trends of the future that were hitting the wall of the present: Employers resistant to allowing employees to work remotely suddenly had no choice as localities enacted mandatory stay-at-home measures. Businesses migrated to remote work on an unprecedented scale – a great experiment, the ripple effects…
Transitioning Ownership The decisions made regarding ownership of the family office or closely held business may not necessarily be the same decisions that are required for leadership and management. It’s critical to understand and acknowledge the different elements that proper succession planning entails. The family wealth enterprise has three interconnected circles of participation—the family members,…
The Trump administration announced $20 billion in new funding for providers on the frontlines of the coronavirus pandemic. Under the new Phase 3 General Distribution allocation, providers that have already received Provider Relief Fund payments will be invited to apply for additional funding that considers financial losses and changes in operating expenses caused by the…