Writing off equipment and vehicles is easier now

September 1st, 2018

Last December’s Tax Cuts and Jobs Act (TCJA) not only slashed tax rates, it also enacted rules that allow businesses to treat as an expense and immediately write off more—including 100 percent temporary expensing for certain assets. This means adding needed equipment, vehicles or even a new shop building is now a lot more affordable. […]

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Finding affordable tax and accounting help

July 1st, 2018

How to find affordable, professional help when you need it. While most owners of small- and medium-size businesses know the details of their companies intimately, there are often highly technical matters of law, accounting, management and marketing that are best handled by outside experts. Attorneys, accountants, and management and marketing advisers have specialized knowledge about […]

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Amending tax returns and other changes that can benefit your business

May 1st, 2016

Every marine fabrication business faces an increasing amount of red tape in the form of rules, regulations, fees and taxes. At the same time enforcement on every level is becoming more aggressive and issue-focused—with even more costly results. Experienced fabricators know that tax mistakes are sometimes inevitable. Fortunately, a combination of unique tax write-offs and […]

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As the ACA stands

January 1st, 2016

Although the Affordable Care Act (ACA) has been around since 2010, and despite more than 50 congressional attempts to repeal it, its shaky financial footing may do it in. According to a report from the Urban Institute, a Washington, D.C.-based think tank, small businesses are among those most vulnerable to steep health-care cost increases affecting […]

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Tax relief for equipment

September 1st, 2013

Thanks to the American Taxpayer Relief Act of 2012, managers, executives and owners who have hesitated or postponed making capital investments for their marine fabrication businesses through the recent economic downturn might now want to consider how the use of those tax incentives and others already on the books can substantially reduce the cost of […]

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Successful succession planning

July 1st, 2013

Sooner or later, everyone contemplates retirement. For those who own a closely held or family-owned fabrication business, retirement is more than just a matter of deciding to not go to work anymore. In addition to ensuring there will be enough money to retire, business owners, shareholders and partners must decide what will happen to the […]

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Making sense of health care reform

September 1st, 2010

The massive and controversial “Patient Protection and Affordable Care Act” and the “Health Care and Education Reconciliation Act of 2010,” the two recently enacted health care reform bills, included more than $400 billion in so-called “revenue raisers” and new taxes on employers and individuals. The centerpiece in these health reform laws is the mandate for […]

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