New Loss Limitations for Non-Corporate Taxpayers

If you starting a new business or investing in an existing business you should be aware of these new rules.  The Tax Cuts and Jobs Act (TCJA) provides that, for tax years after 2017 and before 2026, a taxpayer’s excess business loss for the tax year is disallowed.  This is an expansion of the old… Read more »

2018 Verizon DBIR Highlights

In April, the cybersecurity world hotly anticipates the arrival of the Verizon’s annual Data Breach Investigation report. The deTECH team always takes some time to investigate the investigation and provide a digest of some interesting takeaways. If you would like to read it for yourself, you can go here. Or if you want to drill… Read more »

YHB Welcomes Bryan Newlin as Partner

Winchester, VA (June 5, 2018) — The shareholders of Yount, Hyde and Barbour, P.C. (YHB) have voted to admit Bryan Newlin as principal into the Firm effective June 1, 2018. “We are proud to welcome Bryan as a partner of YHB,” said Scott Moulden, Managing Partner. “Bryan has been a key player in growing the… Read more »

New ABLE Account Advantages

ABLE accounts were created with the passage of the Stephen Beck Jr. Achieving a Better Life Experience Act of 2014. An ABLE account is a tax-advantaged savings vehicle that can be established for a designated beneficiary who is disabled or blind. Only one account is allowed per beneficiary. ABLE accounts are programs established and maintained… Read more »

Have you done a payroll withholding checkup?

The IRS recently sent out a press release reminding taxpayers to perform a “payroll checkup” noting that changes made by the Tax Cuts and Jobs Act (TCJA) may warrant an adjustment.  At YHB we have sent our serval articles and put on presentations to explain some of the significant tax changes made by TCJA and… Read more »

Upcoming Changes for Not-for-Profit Organization Financial Statements

Some changes in your year-end financial statements will be required that are designed to more clearly indicate your organization’s financial position as a result of a recent Financial Accounting Standards Board Accounting Standards Update (FASB ASU). The changes prescribed in Not-for-Profit Entities (Topic 958): Presentation of Financial Statements of Not-for-Profit Entities (ASU 2016-14) will affect… Read more »

Succession Planning – Take Control of Your Destiny

Why do I need to do succession planning? Ask yourself the following questions: How would the business continue if something happened to me? Would there be an orderly transition of the business? Would our client/customer needs continue to be met in a timely fashion? How would the business be liquidated?   When evaluating the first… Read more »

Can I Still Deduct My Mortgage Interest?

Can I Still Deduct My Mortgage Interest? This has to be one of the most frequent questions I have received after the Tax Cuts and Jobs Act became law.  These new rules will impact primary and second home purchases in 2018 and will revert back to the old rules after 2025.  You will need to… Read more »

Who’s On First? | What is team building and why is it important? 

We most commonly think of teams in the context of sporting events. We watch the players run, hit, skate, or shoot, all within the prescribed timeline of a game or period, and at the end of the game, someone wins, and someone loses.  A team consists of a group of individuals working together to achieve… Read more »

Should C Corporations be Revisited?

With the recent changes in the Tax Cuts and Jobs Act and C Corporations seeing significant benefits, many have begun to circle back on their entity status. Why were tax rates reduced for C corporations under the new law? To put it simply, they wanted to incentivize the ‘big boys’ who chose to operate overseas… Read more »