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    Practice Leaders

    Business Tax

    Tax laws and regulations change constantly and business owners and corporate CFOs do not always have the time to keep up with all the new tax legislation. The experienced tax CPAs at Frazier & Deeter provide sophisticated and timely tax advice to help you minimize taxes while adhering to regulations.

    Many of our tax professionals worked with national CPA firms before joining Frazier & Deeter and they have extensive experience in corporate and individual tax issues. Our tax clients include public, private and nonprofit organizations of all sizes operating across industries. We have specialists in areas like nonprofit and tax implications of multi-national operations.

    Expertise for Business Owners

    We assist business owners in determining how to structure their business, such as whether they should become an S corporation, a C corporation, or an LLC. Choosing the legal form for operating a business dramatically impacts after-tax cash flow available to owners, the deductibility of employer fringe benefits, personal liability and more. Some of the crucial items to consider when starting a business include the company’s overall method of accounting, its tax year-end, inventory valuation method and debt versus equity capitalization.

    A close relationship is maintained with a company’s owner to ensure that overall business strategies complement their individual tax situation. Because we know that each client has different needs and goals, we meet with them periodically to discuss their individual and business related issues.

    Learn More:

    tax scam

    IRS Lists Dirty Dozen Tax Scams for 2019

    It’s that time of year again when the IRS makes a special effort to warn taxpayers about ever-evolving tax scams. Fake charities, phony R&D and fuel credits and fraudulent phone calls are highlighted in this year’s annual “Dirty Dozen” list….

    shutdown

    How the Shutdown Affects IRS Operations Going Forward

    Despite Upbeat Messaging, IRS “Inundated” with Overdue Tasks from Government Shutdown “The IRS has reopened following the end of the government shutdown, and IRS employees are working hard to resume normal operations and help taxpayers as much as possible.” “IRS…

    passthrough

    More Passthrough Guidance from IRS

    Passthrough Deduction Clarifications Tackle W-2 Calculation, Aggregation Despite the 35-day government shutdown, the IRS was able to finalize regulations issued last Summer on the Sec. 199A passthrough deduction for qualified business income (QBI). Along with the final rules, the IRS…

    real estate

    Real Estate Keeps Winning on QBI Deduction

    Real Estate Wins Again: IRS Clarifies Deduction for Rental Activities Can you take the 20% qualified business income (QBI) deduction against income from rental properties? The Tax Cuts and Jobs Act said no deduction is allowed for “mere” investment in…

    transportation fringes

    Changes to Transportation Fringes Explained

    The TCJA’s piecemeal approach to giving away one tax break and taking away another is evident when you look at the number of guidance documents pouring out of the IRS. One of the latest urgent explanations, Notice 2018-99, addresses restrictions…

    Meals Entertainment TCJA

    IRS Walks Back Total Loss of Entertainment Meal Deductions

    Want to deduct a business meal? Get a separate receipt. The repeal of the deduction for business entertainment expenses was a culture shift in the tax code that was not immediately apparent. After the passage of the law in December…

    bonus depreciation

    IRS Clarifies New Rules for Bonus Depreciation

    Bonus Depreciation Guidance Clears Up Important Questions on 100% Write-Offs The expansion of bonus depreciation was a welcome part of the Tax Cuts and Jobs Act, and now the IRS has released regulations to clarify many aspects of the new…

    Handshake Over Paperwork

    New Rules for Passthroughs Ease Concerns, Allow Aggregation

    One of the more complex areas of the Tax Cuts and Jobs Act (TCJA) is the 20% deduction for the “qualified business income” of sole proprietorships, partnerships, LLCs, and S corporations. While the deduction is an important tax break for…

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