When property is added to a business, depending on the entity type, there will be varying tax implications. Here, we'll talk about what happens when the property is either sold or distributed to the owners. Entity Choice: C-Corporations and S-Corporations Put a building in a C corporation, and it is not coming back out without triggering [...]
Have you ever zoned out at the CPA's office because what they were saying made no sense, or felt like you had to ask a dumb question because they keep using a word that you are unsure of the meaning? We've compiled a list of the most-used and most-needed terms that should help you navigate your [...]
It may be beneficial to consider taking advantage of state tax credits when planning charitable giving. If you contribute to a qualifying charity, you could receive a credit on your state taxes and a deduction for the difference on your federal taxes. For example, if you make a $1,000 contribution to a charitable organization that is [...]
Setting up a business and deciding which method of accounting has a considerable impact on how your financials look. The critical difference between these two methods is timing. With the cash method, you would recognize revenues and expenses when cash exchanges hands With the accrual method, revenue is recognized when earned, and expenses are recognized when [...]
[Springfield/Branson, MO – May 5, 2020] – Abacus CPAs, LLC is proud to announce that Kasey Bippert, CPA, has been awarded the Abacus Values Award for Positive Attitude. Bippert, who joined the firm in June 2015 as a Staff Accountant, now serves as a Consultant for Accounting Services and manages Quarterly Payroll Taxes, helps train [...]
[Springfield, MO – October 09, 2020] – Abacus CPAs, LLC, is proud to announce that Adrienne McCoy has been honored as part of the 21st class of Most Influential Women by Springfield Business Journal. The virtual award ceremony is held on October 09, 2020. In the male-dominated field of Accounting, McCoy has distinguished herself as [...]
[Springfield, MO – September 11, 2020] – Abacus CPAs, LLC is proud to announce that William “Bill” Dunton has been awarded the distinction of Legacy Adviser as part of Springfield Business Journal’s 2020 Trusted Advisers. The award ceremony is held later today, September 11, 2020 via webcast. Dunton has decades of experience serving clients. Before [...]
[Springfield, MO – September 11, 2020] – Abacus CPAs, LLC is proud to announce that Cristian Rath has been awarded the distinction of Up & Comer as part of Springfield Business Journal’s 2020 Trusted Advisers. The award ceremony is held later today, September 11, 2020 via webcast. Rath has learned through the years that “People [...]
