David Reape CPA Archives - Page 18 of 20 - HW&Co. CPAs and Advisors

Avoid excess benefit transactions and keep your exempt status

By: David M. Reape

One of the worst things that can happen to a not-for-profit organization is to have its tax-exempt status revoked. Among other consequences, the nonprofit may lose credibility with supporters and […]

The chances of an IRS audit are low, but business owners should be prepared

By: David M. Reape

Many business owners ask: How can I avoid an IRS audit? The good news is that the odds against being audited are in your favor. In the fiscal year 2018, […]

How to treat your business website costs for tax purposes

By: David M. Reape

These days, most businesses need a website to remain competitive. It’s an easy decision to set one up and maintain it. But determining the proper tax treatment for the costs […]

IRS has begun sending letters to virtual currency owners advising them to pay back taxes and file amended returns

By: David M. Reape

The Internal Revenue Service has begun sending letters to taxpayers with virtual currency transactions that potentially failed to report income and pay the resulting tax from these transactions or did […]

The key to retirement security is picking the right plan for your business

By: David M. Reape

If you’re a small business owner or you’re involved in a start-up, you may want to set up a tax-favored retirement plan for yourself and any employees. Several types of […]

The tax implications of a company car

By: David M. Reape

The use of a company vehicle is a valuable fringe benefit for owners and employees of small businesses. This benefit results in tax deductions for the employer as well as […]

What to do if your business receives a “no-match” letter

By: David M. Reape

In the past few months, many businesses and employers nationwide have received “no-match” letters from the Social Security Administration (SSA). The purpose of these letters is to alert employers if […]

The IRS is targeting business transactions in bitcoin and other virtual currencies

By: David M. Reape

Bitcoin and other forms of virtual currency are gaining popularity. But many businesses, consumers, employees, and investors are still confused about how they work and how to report transactions on […]

Substantial Nexus and Marketplace Facilitator Changes

By: David M. Reape

The Ohio General Assembly recently passed Am. Sub. H.B. 166, the biennial budget bill, which contains new substantial nexus provisions as well as “marketplace facilitator” statutes. Those statutory changes take […]

Good tax planning includes good record keeping

By: David M. Reape

Tax planning should happen all year long, not just when someone is filing their tax return. A vital part of tax planning is record keeping. Well-organized records make it easier […]

Businesses can utilize the same information IRS auditors use to examine tax returns

By: David M. Reape

The IRS uses Audit Techniques Guides (ATGs) to help IRS examiners get ready for audits. Your business can use the same guides to gain insight into what the IRS is […]

It’s a good time to buy business equipment and other depreciable property

By: David M. Reape

There’s good news about the Section 179 depreciation deduction for business property. The election has long provided a tax windfall to businesses, enabling them to claim immediate deductions for qualified […]

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