Porte Brown NewsBlog

Keeping you informed.

Exciting News! The Porte Brown Weekly Newsletter is now a NewsBlog. We think you'll enjoy the fresh look and the interactive, mobile friendly format. If you haven't already been receiving our news & client communications be sure to sign up today.

The new PB NewsBlog features the latest need-to-know information including:

Porte Brown news and service updates
Upcoming events and industry happenings
Important reminders of upcoming filing deadlines
Updates from the latest available industry research reports
Updates on emerging technologies and how they will affect your industry

Check out our new NewsBlog today!

Our 2022 NewsBlog Archive

January

New Study Finds Rising Health Benefit Costs

Boosting Your 401(k) Plan's Return

The Common Element Among Unique and Successful Businesses

Federal Tax News for Businesses: January 2022

Tips for Purchasing a New or Used Vehicle

Receivables May Offer Relief When Cash Is Tight

Economic Nexus Threshold Updates

Reviewing Tax Planning Strategies

Common Tax Mistakes to Avoid

Nursing Home Fraud: Studies Expose a Little-Known Risk

Encouraging Employees to Volunteer

How Zoning Requirements Can Affect Your Business

Beware of a 100% Personal Liability Penalty

Bring Home a Tax Credit for Adoption

What Is a Personal Residence Trust and Is It Right for You?

How to Value a Company

What is Cloud Accounting and How Does It Work?

What Are the Tax Implications of Gifting Money to Family Members?

The ABCs of Scholarship Tax Rules

4 Financial Considerations Before You Downsize

The Virtuous Circle of Improving Cash Flow

Using a Trust to Help Financially Straightened Family Members

Commission Fraud: Salespeople Getting Paid More Than They’ve Earned

How Manufacturers Can Avoid Sales and Use Tax Problems

Choosing a Retirement Plan for Your Nonprofit

Coping With New Employee Retention Credit Rules

Bookkeeping for Builders: 8 Tips to Consider

When Subsequent Events Count

Let’s Review the Tax Implications of Investing in Mutual Funds

Fraud Review: Watch Out for These Financial Scams

Prevent Fraud by Envisioning How it Could Occur at Your Organization

Important Tax Figures for 2022

February

In-Plan Annuities: A New Twist on the Traditional Pension Model

Unlock 8 Tax Breaks for Home Ownership

QuickBooks Online vs. Desktop: Which is Right for You?

5 Ways to Upskill Your Workforce

Protecting Your Company from Cryptocurrency Fraud

Ten Potential Mistakes to Avoid in Estate Planning

Bond Investing 101: Start with the Fundamentals

Staffing Shortages Cause Some Employers to Reconsider Job Qualifications

How to Maximize the QBI Deduction Amid the Pandemic

Tackling Time-Tracking Troubles

Tax Implications of Student Loan Debt Relief

Due Diligence Considerations when Buying a Business

New Tax Reporting Requirements for Payment Apps Could Affect You

Make Sure Your Beneficiary Designations Reflect Your Wishes

Which Form Should New Nonprofits Use — 1023 or 1023-EZ?

Hiring? Keep an Eye on These Seven Recruiting Trends

Keeping the Family Business Running and the Business Family Happy

2022 Tax Calendar

DOL Takes Action Against 5 Employers for Federal Labor Violations

How to Make Money with Cryptocurrency

The Primary Types of Business Activities

Lease Business Property to Your C Corporation

Responsibilities on a Multi-Employer Job Site

Yes, You Do Need Investment Policies

A Shining Example of Component Depreciation

What Happens to Your 401(k) Account When You Switch Jobs?

Thinking about Selling Your Business? Add Value Now

Understanding Marginal Income Tax Brackets

Federal Tax News for Individuals - February 2022

Understanding International Tax: A Beginner’s Guide

Your Company’s Plans May Make It a Ransomware Attack Target

March

Evaluating KPIs

Should You Put Your Vacation Home into an LLC?

Donating Art: Taxation Abstraction

5 Categories of Interest Expense: What's Deductible?

How to Keep Your Business Strong Despite Inflationary Pressures

Manufacturers Need to Act Soon to Take Advantage of 100% First-year Bonus Depreciation

Managing Important Employees Who Aren’t Key Employees

Preventing and Detecting Fraud in the C-Suite

What’s Your Carbon Footprint?

Beware: Remote Work May Complicate Your Income Taxes

How to Maximize Tax Refunds

Step-by-Step Guide to Amending a Tax Return

3 Numbers To Know: Costs, Markup and Profit

Take Advantage of Tax Breaks for Small Businesses

Do LLC Members Owe Self-Employment Tax?

Lack of Sleep Impairs Productivity

Ex Uno, Multi: The Case for Replacing One Owner With Many

The IRS Again Eases Schedules K-2 and K-3 Filing Requirements for 2021

Why Your 401(k) Plan Should Feature Automatic Enrollment

Paving the Way for Your Nonprofit’s Next Leader

Should You Use Your Trust to Make Charitable Gifts?

A Checklist of Duties with Tax and Governance Implications

Avoid Trailing Punch-Out Costs to Close the Book on Finished Projects

Theft-Proof Your Construction Site

Equity Recap: An Optional Capital Infusion

Private Equity: Taking Companies to the Next Level

A House Divided: Tax Planning for a Home in a Divorce

10 FAQs about ABLE Accounts

Tax Angles for Landlords Today

Providing Experts With Full Access to Relevant Information

Federal Tax News for Individuals - March 2022

Why Specific Goals Should Also Be Fuzzy

Succession Planning for Small Business Owners: Everything You Need to Know

Secure Passive Loss Tax Write-Offs

Can Your Building Make Tax History?

If You Say It Is Free, It Better Be

The Deductible Mileage Rate for Business Driving Is Increasing for 2022

Don’t Discount the Key Person Discount

Should You Diversify Your Investments with Rental Real Estate?

Pair a Trust and an Installment Sale to Pass on Your Business

April

9 Ways to Bask in Summer Tax Savings

Personal Finance Quiz: Test Whether Your College Grad Is Ready for the Real World

Is Severance Pay Taxable? A Guide to Severance Pay Tax Rates

Testing the Waters Before Jumping In

Get the Money You Need

Keep Cybercriminals from Stealing Your Business’s Brand

S Corporation Vs. LLC: The Way a Manufacturing Company is Structured Affects Taxes and More

How to Perform a Small Business Risk Assessment: A Guide

What Does 'Per Stirpes' Mean?

Due Diligence Considerations When Selling a Business

Should You Separate Your Business from Its Real Estate?

Are You Staying Ahead of Your Construction Company’s Backlog?

TAX QUIZ about Business Vehicle Deductions

Business Continuity: Is Your Business Built on Sand or Stone?

Do Valuation Discounts Apply to Compulsory Shareholder Buyouts?

The Value of Being Flexible During 'The Great Resignation'

TAX QUIZ about Charitable Gift Deductions

Is It Time for Your Start-Up to Consider a Pivot Strategy?

Using a Noncompete Agreement When Buying a Business

Split Annuities Help Retirees Meet Multiple Objectives

Preparing Form 990: Pay Attention to These Eight Items

How Fringe Benefits for S Corporation Owners Are Taxed

How Industry Fits Into the Valuation Puzzle

How to Get More from Your Business Valuation

Use Caution When Hiring Workers Under 18

Federal Tax News for Individuals - April 2022

Resist the Urge to Wing It. Implement Uniform HR Policies

Avoid the Drain of Bad Meetings

What Makes More Sense? Temps or Full-Timers?

Use a Forensic Accountant to Prove Fraud in Divorce

Ten Home Improvements that Add Value

Rx for Valuing a Distressed Business

Parceling Out Tax Breaks for Real Estate Investments

A Direct Way to Save Time and Money

May

12 Tips For Taking Your Organization to the Next Level

Federal Tax News for Individuals: May 2022

Consider Taxes Before Selling a Highly Appreciated Vacation Home

Proposed Regs for Inherited IRAs Bring Unwelcome Surprises

Remote Work Policies Can Bring Up Some Thorny Issues

Do You Know the Tax Consequences of Selling Appreciated Land?

7 Midyear Tax-Reduction Strategies for Manufacturers

Ready or Not: Why Planning Now Beats Planning Procrastination

New ACFE Study: Knowledge Is Power in the Fight Against Fraud

Work or Pleasure: The Tax Rules for Hybrid Travel

Health Savings Account Limits for 2023

Ensure Your Construction Accounting System Has the Right Features

Remarried? Know your spouse’s estate property rights

Is a 403(b) Plan Right for Your Nonprofit?

Education Benefits Can Help You Recruit and Retain Smart Employees

Valuing Noncompetes in Business Combinations

Factoring ESG and Other Nonfinancial Goals into Your Variable-Pay Policy

Hiring Workers This Summer and Beyond

Spring Cleaning Your Personal Tax Files

Know the Fundamentals of Estate Planning

Today's Electronic Trail Makes it Tougher to Hide Assets... and Secrets

Getting Personal in Business Planning

Intellectual Property in M&A: Patenting a System for Success

How to Turn Employees into Idea Machines

Manage Your Time or It Will Manage You

Researching Doctors Online

Transferring Investment Property to a Trust: What You Need to Know

Evaluating a Business Valuation Report

5 Things to Keep in Mind About Employee Surveys

June

Should You Transfer Your Home to Your Adult Child?

Small Business Alert: Take Advantage of the WOTC for New Hires

Building an Advisor Team That Works for You (Not Against Each Other)

Chicago Increases Minimum Wage Four Years Ahead of the Rest of Illinois as of July 1, 2022

Risk Protection When You Build, Renovate or Convert to Condo

Profit From a Patent

Need Cash Fast? Consider Factoring

Four Steps to Valuing an Estate

The Lowdown on Spousal IRAs

Supreme Court Looks at Overtime Eligibility for One Employee Group

Proposed Law Would Increase the Social Security Taxable Wage Base

Could the Work Opportunity Tax Credit Help Your Construction Company?

Standard Business Mileage Rate Will Increase for the Second Half of 2022

Illinois Sales Tax Changes

Oops … Do You Need to Amend Your Tax Return?

Good News: IRS Boosts Standard Mileage Rates for Second Half of 2022

M&A & Election to Treat Stock Acquisition as an Asset Acquisition

Protecting Your Business from Organized Crime

Manufacturers, Aim to Hire “Target” Workers This Year to Claim the WOTC

How Much Is Success Worth to You?

Gift Your Heirs Tax Protection

6 Common Tax Deductions for Nonprofits

On the Menu: Perks That Will Entice Employees

6 Tips for Foiling Fake Suppliers in Online Marketplaces

Social Media Marketing: The Latest Trends & Services You Need to See

Bankruptcy Law Changes: Silver Lining in Dark Cloud

6/15 Illinois Estimated Tax Due Date - S Corps & Partnerships - Pass Through Entity Tax

Opening the Door to Home Office Deductions

Is Cryptocurrency Right for Your Business?

What is Corporate Restructuring and Why Does it Matter?

Total Asset Turnover: What Does it Say About Your Company?

Leaving Your Job? What to Do with Company Stock in Your Retirement Plan Account

You Can Run, But You Can’t Hide

Top Mistakes That Kill Employee Involvement

Start Perfecting Job Ads Now

Recent Tax Court Cases of Interest to Businesses

Without a Will: Who Receives the Assets?

A Surviving Spouse's Right to a Portion of an Estate

July

How to Save Money on Your Commuting Costs

Federal Tax News for Businesses: July 2022

Self-Employed Business Owners: What’s the Right Retirement Plan for You?

Mid-Year Tax-Planning Ideas for Individuals

Sell the Family Business the Tax-Smart Way

Keeping the Business in the Family

Succession Planning: Splitting Up the Pie

Advantages of Sponsoring Another Charity

Do Your Employees Know about the Saver's Credit?

Don’t Panic If You Receive a Benefit Audit Notice

Navigating the Shoals of 401(k) Hardship Withdrawals

Hiring Secret: Hire With Your Head

Businesses: Act Now to Make the Most out of Bonus Depreciation

3 Value Drivers You Can Start Installing Right Now

SEPs vs. SIMPLE IRAs: Smart Retirement Plan Options for the Newly Self-Employed

Hiring Family Members Can Pay Off for Everyone

Illinois Electric Vehicle Rebate Program - Effective 7/1/22

What is Business Succession Planning and Why Does it Matter?

Reviewing Revenue Recognition for Construction Companies

How to Use the Cost Approach to Valuing a Business

Settling Your Tax Debt with the IRS

What You Need to Know About Taxes and Gig Work

Bring Manufacturing Workers Into the Fold With a Strong Employee Benefits Package

Spotlight on a Critical Antifraud Tool: Risk Assessments

4 Reasons Why Planning for a Successful Future Isn’t DIY

Tax Breaks & Tax Rebates - Illinois Family Relief Plan to Begin July 1

Estate Planning: Select an Executor and Trustee With Care

Nonprofits: How to Land Major Donors

Why Business Owners Might Want to Hire Their Spouses

10 Tax Tips for Volunteers

Illinois Enacts New Sales and Use Tax Exemption for Breast Pumps as of July 1, 2022

Federal Tax News for Individuals: July 2022

Approach Intrafamily Loans Cautiously

Countering Counterfeit Currency

An Energy Audit Can Find Your Plant's Power Hogs

Six Costly Mistakes to Avoid When Fraud Is Suspected

Profit from an Energy Audit

August

Biden to Forgive up to $20,000 / $10,000 in Student Loan Debt for Certain Taxpayers

Federal Tax News for Individuals: August 2022

Are You Ready for the Illinois Secure Choice Program?

How to Remove “I Can’t Retire” From Your Planning Mindset

The House and Senate Pass the Wide-Ranging Inflation Reduction Act

How a Valuation Pro Can Help with Business Interruption Claims

5 Common Billing Methods in the Construction Industry

Time to Check Your Beneficiary Designations

401(k) Loans: Yay or Nay?

CHIPS Act Poised to Boost U.S. Businesses

The Inflation Reduction Act Includes Wide-Ranging Tax Provisions

Tax Blueprint for Deducting Demolition Costs

Changes to QuickBooks Online and Desktop Pricing

Watch Out for Scam Charities

How Will Inflation Affect Your 2023 Tax Bill?

Elk Grove Village Business Park Named #1 in the United States

Highway Use Tax Return Is Due By August 31

Illinois Sales Tax Holiday Begins August 5, 2022, through August 14, 2022

Avoiding Nonprofit Tax Traps

Weigh the Pros and Cons Before You Hire Part-Timers

How Manufacturing Companies Can Benefit from the Section 179 Expensing Deduction

Do Your ESG Initiatives Open the Door to Fraud?

Received a Jury Notice? What Are Your Responsibilities?

Seek Global Trademark Protection Under the Madrid Protocol

Plan Now So Guardianship Is Not Necessary

Can a Creditor Go After Non-Probate Assets?

3 Ways for Employers and Employees to Tame their Inboxes

'Use-It-or-Lose-It' Policy Questioned

Setting the Stage for Your Retirement

Is Your Estate Plan Bulletproof? Techniques to Help Avoid Fighting Later

How the Federal Reserve Works

Caring for Aging Parents

7 Deductible Medical Expenses You Might Have Missed

Time to Review Related-Party Loans

September

Smart Move: Recruit From Within

Please Leave Home Without It

Employer-Sponsored Vision Coverage May Pay for Itself

Tips for Recognizing and Solving Cash Flow Problems

Is a Lease with an Option to Buy a Home Right for You?

Don’t Eat the Bear in One Bite: Planning Your Future in Steps

Protection Against Tenant Bankruptcy

Protecting Assets When a Spouse Receives Medicaid

How Some Actions Illegally Discriminate

Make a Tax-Smart Redemption of C Corporation Stock

Why You Need a Buy-Sell Agreement

The Finer Points of Buy-Sell Agreements

Help Family Member Employees Find Their Place

The Benefits of Philanthropy

How Financial Reporting Quality Affects Expert Opinions

How Purchase Offers Factor into the Valuation Equation

10 Tips to Help You Combat Rising Costs

Are You Taking Advantage of Tax-Free Income Opportunities?

Should Your Business Opt for a Green Lease?

A Guide to Claiming Charitable Contributions

Manufacturers: Take Note of Key Tax Provisions of the CHIPS Act

Applying for Private Business Loans with Confidence

Becoming More Recession Resistant Through Planning

Valuing Goodwill in Divorce: Recent Cases Provide Insight

Should You Include I Bonds in Your Investment Portfolio?

Take a Proactive Approach to Thwart Cyberattacks

Come Together: Agreeing on an Eldercare Plan for a Loved One

Encourage Legacy Gifts to Your Nonprofit

Spotlight on Paid Parental Leave

Manage Your Construction Business ... and Your Wealth

Clean Vehicle Credit Comes with Caveats

Into the Details of QuickBooks Online Payroll

Protect Your Public Company with an Insider Trading Policy

FAQs about Disclaiming a Gift or Bequest

New Rules for EV Tax Credits under the IRA

Retirement Savers: Consider Using TIPS to Hedge Against Inflation

Avoid IRA Rollover Tax Traps

Best Recipe for Using Salary Surveys

What? Settle Out of Court?

Love Can’t Be Blind: Preparing for a Business Transfer to Children or Insiders

How Buy-Sell Agreements Factor into Business Owners’ Estate Plans

Estimating Replacement Compensation in Divorce

How Does a Hold Harmless Clause Work in the Construction Industry?

What if an Employee Has Military Duty?

Routine Reports Can Contain a Gold Mine of Fraud Evidence

Plan Ahead to Make Disability Benefits Tax-Free

October

November

December

Our 2021 NewsBlog Archive

2021

Feast on Bigger Tax Deductions for Business Meals

IRS Issues Information Letters to Advance Child Tax Credit Recipients & Recipients of the Third Round of Economic Impact Payments

Looking for a 2022 Safety Net for Your Business? Act on EIDL Funding Before Year End

4 Improvements That Can Position Owners for Greater Success

Are You Ready for Possible State Minimum Wage Increases?

8 New Year’s Resolutions for Small Business Owners

Host a Family Meeting To Discuss Your Estate Plan

Take the Time to Do It Right

Why Do I Owe State Taxes?

Navigating the Tax Angles for ETFs

Close-Up on the Individual AMT

What Can Employers Do with Forfeited Employee FSA Balances?

Become a Winner at Sales by Avoiding These 5 Mistakes

Tax Consequences of Borrowing From a Retirement Plan

The Importance of Reviewing Your Performance

Act Now to Make the Most of Your 2021 Charitable Gifts

Manufacturers: Don’t Miss Out on an R&D Tax Credit

7 Keys for Nonprofit Success in 2022

Workers Back on Site? Offer Them Transportation Benefits

Dos and Don’ts of Crisis Management for Contractors

New Benefits Study: How to Fill Risky Gaps in Coverage, Knowledge

7 Personal Financial Resolutions for 2022

QuickBooks Corner: QuickBooks Desktop Plus 2022 Paying Vendor Bills Online & Payment Approval

Taking Marketability Discounts on Controlling Interests

Recent IRS Guidance Addresses the Taxability of PPP Loan Forgiveness

How to Make the Most of the Annual Gift Tax Exclusion

Turn Customer Complaints Into Value-Building Opportunities

U.S. House Passes the Build Back Better Act

Dynasty Trust Provides a Bridge to Keep on Giving

Two Charitable Trusts that Provide Dual Benefits

Federal Tax News for Businesses: December 2021

The Homebuyer's Dilemma

Intelligent Home Refinancing

Construction and Bridge Loans Designed to Meet Special Needs

TDFs: Look Before You Leap

Striking a Balance Between Retirement Planning and College Saving

Tax Structures in Buying or Selling a Business

Planning Is a Team Sport: Which Teammates Do You Need?

Don’t Forget to Factor 2022 Cost-of-Living Adjustments into Your Year-End Tax Planning

New Law Ends Employer Credit and Changes Cryptocurrency Reporting

7 Tax-Smart Reasons to Hire Your Spouse

Tax Benefit of Separating Repairs from Improvements

Multistate Resident? Watch Out for Double Taxation

How Do I Know What My Home is Really Worth?

Business Risk Assessment: Management Strategies

Businesses Must Navigate Year-end Tax Planning with New Tax Laws Potentially on the Horizon

The Infrastructure Investment and Jobs Act Includes Tax-Related Provisions You’ll Want to Know About

Potential Tax Law Changes Hang Over Year-End Tax Planning for Individuals

Federal Tax News for Individuals - November 2021

How Fast Can You Write off a Business Vehicle?

Deciding When to Raise Your Prices … and by How Much

New 2022 IRS Retirement Plan Limits Announced

How Time Can Affect Planning Success

4 Big Charitable Tax Breaks for 2021

Prioritize Your Insurance Needs

Stretch IRAs Are Dead. Long Live CRTs!

FAQs About Fairness Opinions

Is It Time for a Cost Segregation Study?

How Creditworthy Is Your Construction Business?

Check Kiting Is No Game

Does Your Nonprofit Have UBIT Exposure?

Keeping Payroll Data Confidential

Documents You Must Keep for Tax Purposes

Six Smart Reasons to Keep Scrupulous Records

9 Ideas to Potentially Lower Your Taxes for 2021

Protecting Yourself Against Employee Risk

How to Protect Your Home Investment

Inheriting Money? Considerations for Handling It

Estate Planning: The Need to Know

Maintenance Costs of Owning a Home

Mistake to Avoid: Not Understanding Home Ownership Tax Implications

Avoid Buyer's Remorse, Know the True Cost of Equipment

Improve Your Construction Firm’s Chance of Submitting a Winning Bid

Year-End Tax Planning Tips for Small Businesses

Lowdown on Federal Tax Proposals for Individuals and Businesses

How Much Will Social Security Recipients Collect Monthly in 2022?

Mind the Wash Sale Rule When Harvesting Tax Losses

Employees Heading for the Exits? Increase Retention Through Greater Engagement

Debate Continues in Congress Over Proposed Tax Changes

Is a Stormwater Permit Required for Your Construction Project?

QuickBooks Desktop Moving to Subscription Pricing

New Business Travel Per Diem Rates Are Effective on October 1

Going Green: More Than a Smart Business Marketing Strategy

How Are Traditional IRA Withdrawals Taxed?

Why Communication Is Essential to Successful Planning

Would Your Company Pass the Independent Investor Test?

The Outlook Is Improving for Women in Manufacturing

Why Cost Codes Are Critical to Construction Business Success

Don’t Forget to Include Digital Assets in Your Estate Plan

How Predatory Lenders Lay Traps for Unwary Business Owners

IRS Rules for Natural Disaster Aid Organizations

Tax Consequences of Offering Innovative Benefits

A New Chapter on College Financial Aid

What Can a Targeted Marketing Campaign Do?

How a Deductible Home Office Affects a Sale

Estate Tax Planning Tips for Single People

Should You Become the Bank of Mom and Dad?

Creating a More Diverse Workplace

Tax-Wise Way to Pay Medical Costs

How to Salvage a Casualty Loss Deduction

For older articles check out our Articles Archive.

We Help You Get to Your Next Level™

Get in touch today and find out how we can help you meet your objectives.

Securities offered through Avantax Investment Services℠, Member FINRA, SIPC. *Investment advisory services offered through Avantax Advisory Services℠ ** Insurance services offered through an Avantax affiliated insurance agency. Avantax affiliated advisors may only conduct business with residents of the states for which they are properly registered. Please note that not all of the investments and services mentioned are available in every state. The Avantax family of companies exclusively provide investment products and services through its representatives. Although Avantax Wealth Management℠ does not provide tax or legal advice, or supervise tax, accounting or legal services, Avantax representatives may offer these services through their independent outside business. This information is not intended as tax or legal advice. Please consult legal or tax professionals for specific information regarding your individual situation. Content, links, and some material within this website may have been created by a third party for use by an Avantax affiliated representative. This content is for educational and informational purposes only and does not represent the views and opinions of Avantax Wealth Management℠ or its subsidiaries. Avantax Wealth Management℠ is not responsible for and does not control, adopt, or endorse any content contained on any third-party website.