Matter & Substance

Insights from our industry
to help businesses and individuals

May 3, 2023

Will You Owe Tax on the Profits of Your Home Sale?

From capital gains taxes to the 3.8% Net Investment Income Tax (NIIT), the tax implications of a home sale can be significant and impact the bottom line. But with the right knowledge and planning, homeowners can make the most...

April 26, 2023

How Small Businesses Can Thrive by Tapping International Customers

In today’s interconnected world, small businesses have unprecedented access to fast growing global markets. From opening up new revenue streams and sources of supply to reducing operational and tax costs, expanding into international markets has never been easier and...

April 11, 2023

REMINDER: The April 18 Deadline Is Next Week

Next Tuesday, April 18, is Tax Day. If you have not yet given us your information, please do so as soon as possible. Although we cannot guarantee anything that has come in after March 8 will be filed without...

April 4, 2023

Hiring? You May Be Eligible for a Valuable Tax Credit

If you are looking to hire, you should be aware of a valuable tax credit for employers hiring individuals from one or more targeted groups. The Work Opportunity Tax Credit (WOTC) is generally worth $2,400 for each eligible employee...

March 30, 2023

What are the Tax Implications of Modifying International Supply Chains?

Over the last several years, unprecedented supply chain disruptions caused by both the pandemic and geopolitical stress have affected the global availability of raw materials, finished goods, labor, and talent. These issues have increased prices for businesses and consumers...

March 21, 2023

Understanding Net Working Capital Is Vital for a Smooth Transaction

At Mowery & Schoenfeld, our Transaction Advisory Services practice focuses on deals in the lower middle-market, which we define as companies between $1M and $10M of EBITDA. About 80% of our engagements support buyers of these businesses by providing...

March 15, 2023

Pump Up Tax Savings With the Fuel Credit

Companies hoping to reduce their tax bills or increase their refunds shouldn’t overlook the fuel tax credit. It’s available for federal tax paid on fuel used for nontaxable purposes. When does the federal fuel tax apply? The federal fuel...

March 8, 2023

Reminder: March 15 Is the Tax Filing Deadline for S Corps and Partnerships

Wednesday, March 15, 2023 marks the filing deadline for S Corporations and Partnerships. This year’s tax deadline for individuals, trusts, estates, gift, and C corporations will be Tuesday, April 18, 2023. Do I have to pay if I plan...

February 28, 2023

Beware the Five-Year Rule for Roth IRA Withdrawals

What makes Roth IRAs so appealing? Primarily, it’s the ability to withdraw money from them tax-free. But to enjoy this benefit, there are a few rules you must follow, including the widely misunderstood five-year rule. Three types of withdrawals...

February 28, 2023

Beware the Five-Year Rule for Roth IRA Withdrawals

February 23, 2023

How the SECURE Act 2.0 Affects Your Employee Benefit Plan

The Setting Every Community Up for Retirement Enhancement (SECURE) Act 2.0 was passed by Congress on December 23, 2022 and signed by President Biden on December 29, 2022. The SECURE Act 2.0 is an expansion of the original SECURE...

February 15, 2023

Architects, Designers, and Engineers Can Benefit From the Expansion of the IRC 179D

The EPAct 179D Tax Deduction was introduced in 2005 with the intention to drive commercial building owners and designers of tax-exempt buildings to reduce their energy use. By enabling building owners to claim a tax deduction for installing qualifying...

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Matter & Substance

Insights from our industry to help businesses and individuals

Insights from our industry
to help businesses and individuals