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Congress Approves Sweeping Tax Reform

On December 20, 2017, Congress approved sweeping tax reform. The President is expected to sign the bill next week in its current form. 

What is a 1031 Exchange and Who Can Benefit from One?

The opportunity to defer tax is music to the ears of many. In this article, we’ll discuss the different types of 1031 exchanges and the potential benefits for each.

New Revenue Recognition – 5 Steps You’ll Need to Know

Not familiar with revenue recognition? An often-misunderstood principle, revenue recognition determines the conditions under which revenue is received. The new standards emphasize that revenue should be recorded when goods and services are transferred, or a customer takes control.  Control is identified as the ability to direct the use of and reap the benefits of the goods or services performed under the contract. The guidance provides five steps to implementing the new standards.

Understanding How the R&D Tax Credit Can Offset Payroll Taxes

Start-ups and small businesses customarily incur expenditures that may qualify for Research & Development (R&D) tax credits, but generally, these businesses don’t have the taxable profit needed to take advantage of the credit. The IRS issued guidance earlier this year that explains how qualifying small businesses can now apply all or a portion of the credit against their payroll tax liability, including social security taxes. Below we’ve answered some of the key R&D questions and whether your business is eligible for offsetting payroll tax.

W&S Named one of Accounting Today’s 2017 Best Accounting Firms To Work For

Walter & Shuffain, P.C. was recently named one of Accounting Today’s 2017 Best Accounting Firms To Work For. Accounting Today partnered with Best Companies Group to identify the top 100 companies that excel in creating quality workplaces for employees.

Walter & Shuffain Selected to IPA’s Annual Best of the Best Accounting Firms

We are proud to announce that W&S has been selected as a Best of the Best Firm by INSIDE Public Accounting (IPA).