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by posted Oct 3 2016 9:09:00 AM
TAKE THE WORRY OUT OF BUSINESS VALUATIONS Appraisals can inspire anxiety for many business owners. And it’s understandable why. You’re obviously not short on things to do, and valuations cost time and money. Nonetheless, there are some legitimate reasons to obtain an appraisal regularly or, at the very least, to familiarize yourself wi
by posted Sep 1 2016 12:41:00 PM
AMT AWARENESS: BE READY FOR ANYTHING When it comes to tax planning, you’ve got to be ready for anything. For example, do you know whether you’re likely to be subject to the alternative minimum tax (AMT) when you file your 2016 return? If not, you need to find out now so that you can consider taking steps before year end to minimize pot
by posted Aug 3 2016 10:40:17 AM
We are excited to announce that St. Louis Small Business Monthly has recognized Scheffel Boyle Principal Steve Pembrook, CPA as a “Top Accountant” in the St. Louis region for the publication’s annual feature. Each year, top accountants from the St. Louis area are chosen by readers of the magazine. Steve was one of only 12 people r
by posted Aug 2 2016 2:19:00 PM
KNOW YOUR OPTIONS FOR BUSINESS INTEREST TRANSFERS Business owners should always know their options when it comes to their company and its relation to their estate plans. Let’s take a look at some commonly chosen vehicles for transferring ownership interests in a business. The great GRAT With a grantor retained annuity trust (GRAT), you tra
by posted Jul 1 2016 1:26:00 PM
HAVE A HOUSEHOLD EMPLOYEE? BE SURE TO FOLLOW THE TAX RULES   Many families hire people to work in their homes, such as nannies, housekeepers, cooks, gardeners and health care workers. If you employ a domestic worker, make sure you know the tax rules. Important distinction Not everyone who works at your home is considered a household employ
by posted Jun 3 2016 9:05:00 AM
Beware The Transfer-For-Value Rule When Dealing With Life Insurance Life insurance typically is a key component of an estate plan. To keep the value of a life insurance policy you already own out of your taxable estate, or to achieve other planning goals, it may make sense to transfer the policy. But income tax traps exist. One is the transfer-for
by posted May 11 2016 8:35:00 AM
Scheffel Boyle has officially made the 2016 "Best Accounting Firms" list for St. Louis Small Business Monthly! We are very excited to share this recognition with our team and our clients. Thank you all for your support and nominations. Click here to view the full list of honorees.        
by Tax & Business Alert posted May 6 2016 9:27:00 AM
JUGGLING FAMILY WEALTH MANAGEMENT IS NO TRICK Preserving and managing family wealth requires addressing a number of major issues. These include saving for your children’s education and funding your own retirement. Juggling these competing demands is no trick. Rather, it requires a carefully devised and maintained family wealth management p
by posted Apr 1 2016 8:57:00 AM
Protect Yourself Against Tax Scams Taxpayers are still receiving the same highly aggressive and threatening phone calls by criminals impersonating IRS agents asking for payment. However, the IRS has recently been made aware of a new tactic underway in which scammers are calling consumers asking to verify tax return information over the phone. The
by posted Mar 11 2016 4:13:00 PM
We are excited to announce that St. Louis Small Business Monthly has recognized us once again on their "Best" lists in the "Best in Reliability" feature! This isn't our first appearance on the lists, as we have been named "Most Reliable" (2012), a "Best Accounting Firm" (2013), a "Winning Workplace" (2014), and a "Future 50 Company" (2015). Most
by posted Mar 7 2016 1:50:00 PM
We have some exciting news to share! Our Jerseyville office was recently recognized as the 2015 Business of the Year by the Jersey County Business Association due to the team's economic contributions to the local region, outstanding business practices, and overall involvement in community service efforts, among many other outstanding qualities.&n
by posted Mar 1 2016 9:14:00 AM
Walk the Path to Tax Savings for 2015 Like many taxpayers, you may have been expecting to encounter a few roadblocks while traversing your preferred tax-saving avenues. If so, tax extenders legislation signed into law this past December may make your journey a little easier. Let’s walk through a few highlights of the Protecting Americans fro
by posted Feb 3 2016 7:54:00 AM
Good Eats, Tax Breaks: Deducting Employee Meal Costs   One thing about human resources — they need to eat. Just about every employer encounters situations in which it needs to provide meals to its employees. No matter how often you do so, be sure you’re aware of the tax rules for deducting these costs. Claim half or all General
by posted Jan 22 2016 11:05:00 AM
We are excited to announce that St. Louis Small Business Monthly has officially named our firm on two of their "Best" lists! We were recently voted "Best in Quality" and "Best in Customer Service" by readers of the publication. This isn't our first appearance on the lists. In the past, we have been named "Most Reliable" (2012), a "Best Accountin
by posted Jan 7 2016 10:51:40 AM
Court Rejects Homebuilder’s Deduction of Employee Compensation In a recent case, a builder of custom and speculative homes was required to capitalize -- rather than deduct -- certain employee salaries and year-end bonuses, including $1,318,000 in total compensation paid to the company’s founder and CEO.* The decision affirmed an earlie
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