blog | Bowman & Company, LLP | Construction

Spotlight on M&A: Why Buyers Love Asset Purchase Deals

Posted by Bowman & Co on Dec 13, 2019 10:18:00 AM
Spotlight on M&A: Why Buyers Love Asset Purchase Deals

Are you thinking about buying a business? How you structure the deal will affect the taxes owed by the buyer (you) and the seller (the other party).

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Topics: Government Entities, Not-for-Profits, For-Profit Entities, Construction, Professional Services, Healthcare, Federal Services

Taxpayers Should Watch Out for Gift Card Scam

Posted by Bowman & Co on Dec 6, 2019 10:41:54 AM
Taxpayers Should Watch Out for Gift Card Scam

Taxpayers should always be on the lookout for scams. Thieves want to trick people in order to steal their personal information, scam them out of money, or talk them into engaging in questionable behavior with their taxes. Scam attempts can peak during tax season, but taxpayers need to remain vigilant all year.

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Topics: Government Entities, Not-for-Profits, For-Profit Entities, Construction, Professional Services, Healthcare, Federal Services

FAQs About Self-Employment Tax

Posted by Bowman & Co on Nov 29, 2019 11:00:00 AM
FAQs About Self-Employment Tax

Do you owe self-employment (SE) tax on non-wage income that you collect only occasionally or in a one-off circumstance? Some sources of income may not be subject to the dreaded SE tax. Here's what you should know if you earn income from "irregular" sources.

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Topics: Government Entities, Not-for-Profits, For-Profit Entities, Construction, Professional Services, Healthcare, Federal Services

Reap Tax Rewards from Year-End Harvesting

Posted by Bowman & Co on Nov 22, 2019 10:00:00 AM
Reap Tax Rewards from Year-End Harvesting

The stock market has experienced plenty of ups and downs this year. So some investors are poised to take big gains for 2019, while others are currently showing losses and many have both.

What are the tax consequences if you sell securities? There's no fast answer. But it helps if investors understand the basic rules and plan accordingly at year-end. Here's a brief overview.

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Topics: Government Entities, Not-for-Profits, For-Profit Entities, Construction, Professional Services, Healthcare, Federal Services

New Bankruptcy Relief Coming Soon

Posted by Bowman & Co on Nov 8, 2019 10:00:00 AM
New Bankruptcy Relief Coming Soon

Is your small business struggling to make ends meet? Some relief may be on the way for distressed business owners. The Small Business Reorganization Act of 2019 will make it faster and less expensive to benefit from a Chapter 11 bankruptcy. The legislation was signed into law in August, and it goes into effect on February 19, 2020. Here's what you need to know.

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Topics: Not-for-Profits, For-Profit Entities, Construction, Professional Services, Healthcare

Year-End Tax Planning Moves for Small Businesses

Posted by Bowman & Co on Nov 1, 2019 10:00:00 AM
Year-End Tax Planning Moves for Small Businesses

It's hard to believe 2019 is almost over! It's been a busy year in many sectors, often forcing small business owners to put tax planning on the back burner while they've tended to daily business operations.

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Topics: For-Profit Entities, Construction, Professional Services, Healthcare

Year-End Strategies to Reduce AGI

Posted by Bowman & Co on Oct 25, 2019 10:30:00 AM
Year-End Strategies to Reduce AGI

Reducing your current-year adjusted gross income (AGI) is usually a tax-smart idea. Here are ten ways to reduce your AGI (and modified AGI) over the short and long run.

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Topics: Government Entities, Not-for-Profits, For-Profit Entities, Construction, Professional Services, Healthcare, Federal Services

Two Education Credits Help Taxpayers with College Costs

Posted by Bowman & Co on Oct 11, 2019 2:00:00 PM
Two Education Credits Help Taxpayers with College Costs

With school back in session, parents and students should look into tax credits that can help with the cost of higher education. They do this by reducing the amount of tax someone owes on their tax return. If the credit reduces tax to less than zero, the taxpayer may get a refund.

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Topics: Government Entities, Not-for-Profits, For-Profit Entities, Construction, Professional Services, Healthcare, Federal Services

Affording Retirement Is Greatest Financial Concern of NJ Residents

Posted by Bowman & Co on Sep 12, 2019 11:00:00 AM
Affording Retirement Is Greatest Financial Concern of NJ Residents

Affording retirement is the most significant financial concern of New Jersey residents. That’s the key finding from the recent Kearny Bank Personal Finances Poll, an online survey conducted recently by Fairfield-based Kearny Bank.

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Topics: Not-for-Profits, For-Profit Entities, Construction, Professional Services, Healthcare, Federal Services

NJCPA Reminds to Check Tax Withholding Amid IRS Form W-4 Changes

Posted by Bowman & Co on Sep 5, 2019 11:00:00 AM
NJCPA Reminds to Check Tax Withholding Amid IRS Form W-4 Changes

The New Jersey Society of Certified Public Accountants (NJCPA) reminds taxpayers to review their current federal income tax withholding from their paychecks, particularly as the IRS is issuing a new Employee’s Withholding Allowance Certificate (Form W-4). The IRS issued a draft 2020 Form W-4 in May and expects to issue a final version in November.

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Topics: Government Entities, Not-for-Profits, For-Profit Entities, Construction, Professional Services, Healthcare, Federal Services