Bitcoin and other virtual currency are proving to have greater lasting power than many predicted when they first attracted broad public attention. They’re even beginning to attract the attention of taxing authorities.
celliott
Recent Posts
Taxpayers Don't Have to Report Virtual Currency on FBARs - Yet
Posted by celliott on Jul 24, 2014 11:14:41 AM
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Topics: Bitcoin, FBAR, International Tax, Tax, Uncategorized
The IRS has released instructions for filing Form W-8BEN-E, “Certificate of Status of Beneficial Owner for United States Tax Withholding and Reporting (Entities).”
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Topics: FATCA, Form W-8BEN-E, International Tax, Tax, Uncategorized
Bonus Depreciation Legislation Passes House, but Faces Hurdles
Posted by celliott on Jul 15, 2014 9:21:52 AM
On July 11, 2014, the House passed legislation permanently extending bonus depreciation. The Senate is expected to advance a temporary extension, rather than a permanent one, so the stage is set for further deliberation. The President has threatened to veto the measure if it makes it through Congress.
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Topics: Bonus Depreciation, Section 179, Tax, Uncategorized
Delays in construction projects can lead to a cascade of negative financial repercussions for both owners and their contractors. The parties may even wind up in court.
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Topics: Construction, Construction Litigation, Damages, real estate, Uncategorized
Commercial developers, landlords and brokerage teams are all looking for ways to build and promote sustainability in their projects. Likewise, tenants are looking for "green" workspace. Smith & Howard's space at 271 17th Street is, in fact, a LEED Certified building. We understand the importance of green space from many perspectives. But understanding the rules behind sustainability standards can be frustrating and creating a sustainable project that can be reflected in tenants' leases has been a daunting task.
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Topics: Going Green, Green Lease, real estate, Tax, Uncategorized
Many individual taxpayers involved in real estate investment or development maintain a home office. But, even though the IRS recently made it easier to claim the home office deduction, you may still not qualify for it.
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Topics: Deduction, Home Office, real estate, Safe Harbor, Tax, Uncategorized
There are many ways to buy real estate. Some buyers acquire properties outright, while others choose a less-advantageous acquisition method by acquiring C corporation stock that holds the property as its primary asset. If you select the latter route, understand that you could encounter some tax pitfalls and legal complications.
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Topics: C Corporation, real estate, Tax, Uncategorized
July 1, 2014: Georgia’s Purchasing Managers Index (PMI) — a reading of economic activity in the state’s manufacturing sector — increased 0.5 of a point during June. The Purchasing Managers Index (PMI) Report is underwritten by the Manufacturing and Distribution Group of Smith & Howard, an Atlanta accounting and advisory firm, and is produced monthly by the Econometric Center at Kennesaw State University.
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Topics: Sabbarese, distribution, Georgia manufacturing activity, KSU Econometric Center, manufacturing, manufacturing activity, PMI, Uncategorized
Construction Success Story: Applying the Latest Technology to Mobile Project Management
Posted by celliott on Jun 26, 2014 3:07:56 PM
A midsize telecommunications contractor recently learned that the right mobile project management tools mean a lot more than increased convenience. The business, which operates over a large suburban area, employs roughly 60 technicians, 15 sales representatives and managers, and eight executives (including the owners). Suffice it to say, being able to work collaboratively on the go is a must.
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Topics: Project Management, Construction, Uncategorized
Small Tools, Big Deal: Accountable Reimbursement Plans
Posted by celliott on Jun 26, 2014 3:03:38 PM
Small tools are an unavoidable expense for many construction workers and the companies that employ them. Like many contractors, you have likely considered creating an “accountable” plan for reimbursing employees for their small tools purchases. Although the dollar amounts of these items may be relatively miniscule, getting an accountable plan right is a big deal come tax time.
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Topics: Accountable Reimbursement, Construction, Uncategorized