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The Thomas Howell Ferguson Blog

Thomas Howell Ferguson P.A. CPAs Promotes Devin Masson to Assurance Manager

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Thomas Howell Ferguson P.A. CPAs (THF), a Top 200-ranked accounting firm by Inside Public Accounting, is proud to announce the promotion of Devin Masson to Manager within Assurance Services. Since joining THF in 2021, Devin has provided assurance and consulting services to clients within insurance, not-for-profit, governmental, and for-profit organizations. Her experience includes conducting financial […]

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THF Named a 2025 Best of Accounting Winner by ClearlyRated for Outstanding Service

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Tallahassee, Florida – February 4, 2025 – Thomas Howell Ferguson P.A. CPAs (THF), a leading accounting firm, announced today that they have won the Best of Accounting Award for continuing to provide Superior Client Service. ClearlyRated’s Best of Accounting® Award winners have proven to be industry leaders in service quality based entirely on ratings provided […]

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2024 Q4 calendar: Key tax deadlines for businesses and other employers

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Here are some of the key tax deadlines affecting businesses and other employers during the fourth quarter of 2024. Keep in mind that this list isn’t all-inclusive, so there may be additional deadlines that apply to you. Contact us to ensure you’re meeting all applicable deadlines and to learn more about the filing requirements. Note: […]

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Cash or accrual accounting: What’s best for tax purposes?

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Your businesses may have a choice between using the cash or accrual method of accounting for tax purposes. The cash method often provides significant tax benefits for those that qualify. However, some businesses may be better off using the accrual method. Therefore, you need to evaluate the tax accounting method for your business to ensure […]

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Navigating tax complexities: Craft partnership agreements and LLC operating agreements with precision

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Partnerships are often used for business and investment activities. So are multi-member LLCs that are treated as partnerships for tax purposes. A major reason is that these entities offer federal income tax advantages, the most important of which is pass-through taxation. They also must follow some special and sometimes complicated federal income tax rules. Governing […]

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Reasons an LLC might be the ideal choice for your small to medium-sized business

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Choosing the right business entity is a key decision for any business. The entity you pick can affect your tax bill, your personal liability, and other issues. For many businesses, a limited liability company (LLC) is an attractive choice. You can structure it to resemble a corporation for owner-liability purposes. You can also structure the […]

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Help ensure your partnership or LLC complies with tax law

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When drafting partnership and LLC operating agreements, various tax issues must be addressed. This is also true of multi-member LLCs that are treated as partnerships for tax purposes. Here are some critical issues to include in your agreement so your business remains in compliance with federal tax law. 1. Identify and describe guaranteed payments to […]

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The possible tax landscape for businesses in the future

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Get ready: The upcoming presidential and congressional elections may significantly alter the tax landscape for businesses in the United States. The reason has to do with a tax law that’s scheduled to expire in about 17 months and how politicians in Washington would like to handle it. How we got here The Tax Cuts and […]

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Consider borrowing from your corporation but structure the deal carefully

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Have you considered borrowing funds from your corporation? If you own a closely held corporation, you can borrow funds from your business at rates that are lower than those charged by a bank. However, it’s important to avoid certain risks and charge an adequate interest rate. Basics of this strategy Interest rates have increased over […]

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If your business has co-owners, you probably need a buy-sell agreement 

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Are you buying a business that will have one or more co-owners? Or do you already own one fitting that description? If so, consider installing a buy-sell agreement. A well-drafted agreement can do these valuable things: Agreement basics There are two basic types of buy-sell agreements: Cross-purchase agreements and redemption agreements (sometimes called liquidation agreements). […]

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Thomas Howell Ferguson P.A. CPAs (THF) Wins ClearlyRated’s 2024 Best of Accounting Award For Service Excellence

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Thomas Howell Ferguson P.A. CPAs (THF), a leading accounting firm, announced today that they have won the Best of Accounting Award for providing superior service to their clients. ClearlyRated’s Best of Accounting® Award winners have proven to be industry leaders in service quality based entirely on ratings provided by their clients. On average, clients of […]

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