These days, most businesses have websites. But surprisingly, the IRS hasn’t issued formal guidance on when website costs can be deducted. Fortunately, established rules that generally apply to the deductibility of business costs provide business taxpayers launching a website with some guidance as to the proper treatment of the costs. Plus, businesses can turn to […]
Thomas Howell Ferguson P.A. CPAs moves up to the 135th ranking in Inside Public Accounting’s Top 200 Firms for 2022
Thomas Howell Ferguson P.A. CPAs (THF) a professional accounting, assurance, government consulting, and tax services firm headquartered in Tallahassee, Florida, moves up to the 135th ranking in Inside Public Accounting’s Top 200 Firms for 2022. INSIDE Public Accounting (IPA) is a leader in practice management resources for the public accounting profession and provides assistance to […]
Three Tax Breaks for Small Businesses
Your small- or medium-sized business may be eligible for some tax breaks that aren’t available to larger businesses. Here are some examples. 1. QBI deduction For 2018 through 2025, the qualified business income (QBI) deduction is available to eligible individuals, trusts, and estates. It excludes C corporations or their shareholders. The QBI deduction can be […]
Important Considerations when Engaging in a Like-Kind Exchange
A business or individual can dispose of appreciated real property without being taxed on the gain by exchanging it. You can defer tax on your gain through a “like-kind” exchange or the Internal Revenue Code Section 1031. What’s a Like-Kind Exchange? A like-kind exchange is a swap of real property held for investment or for […]
Tax Obligations when a Business Closes its Doors
Has the ongoing pandemic put your business in a situation where you may have to close its doors? If your business closes its doors, we can assist you during this transition. A business must file a final income tax return and some other related forms for the year it closes its doors. The type of […]
THF Named One Of “America’s Top Recommended Tax and Accounting Firms” by Forbes Magazine for 2021
THF has been named one of “America’s Top Recommended Tax and Accounting Firms” by Forbes Magazine for the second year in a row. Forbes partnered with the market research company Statista to create a list of the most recommended firms in the U.S. based on surveys of similar professionals and clients. Respondents were recruited via […]
