CARES Act, Tax Reform, and More

The President signed into law the Coronavirus Aid, Relief, and Economic Security (CARES) Act.  Regulatory guidance from federal agencies such as the Department of Labor, Department of Treasury, Department of Health and Human Services, and the Internal Revenue Service is still necessary to fully explain the value and impact of these provisions.The CARES Act endeavors… Read More

National Construction Accounting Conference – Economic Outlook, Revenue Recognition Update, and Accounting Methods

Mike Goettsche and Brody Fitch from Cooper Norman’s Construction Team attended the AICPA Construction & Real Estate Conference held in Nashville on December 5th and 6th, 2019.  The construction conference is the AICPA’s flagship event for providing information from leading industry professionals related to trends in the industry, practical implementation of accounting standards, and tax… Read More

Tax Planning for the Construction Industry

Believe it or not, 2019 is over 90% complete at this point. Considering that tax reform has dramatically changed the nature of tax credits and deductions, it is more important than ever to ensure that adequate planning is done. Optimal tax savings is heavily reliant on planning before year-end. As a contractor, we will talk… Read More

The Pass-through Deduction: Things every business owner needs to know

[et_pb_section fb_built=”1″ _builder_version=”3.26.3″ custom_padding=”0px|||||”][et_pb_row _builder_version=”3.26.3″][et_pb_column _builder_version=”3.26.3″ type=”4_4″][et_pb_text _builder_version=”3.26.3″] By Dan Packard, CPA, CFE, CVA Tim Anderson, CPA Scott Nielson, CPA Recent tax changes have dramatically impacted the opportunities available to small business owners.  One of the largest opportunities now available is the pass-through deduction (Section 199A deduction), by which a taxpayer can deduct up to… Read More

Tommy Gwinn Quoted on Bitcoin filings

[et_pb_section fb_built=”1″ _builder_version=”3.26.3″ custom_padding=”0px|||||”][et_pb_row _builder_version=”3.26.3″][et_pb_column _builder_version=”3.26.3″ type=”4_4″][et_pb_text _builder_version=”3.26.3″] Tommy Gwinn of our Pocatello office quoted in the Idaho Business Review. Make sure you file your Bitcoin and other cryptocurrency gains and losses correctly on your taxes! Learn more about Tommy Gwinn here.[/et_pb_text][et_pb_image src=”http://coopernorman.com/wp-content/uploads/2019/07/tommy_gwinn_bitcoin_article_screenshot.png” _builder_version=”3.26.3″][/et_pb_image][/et_pb_column][/et_pb_row][/et_pb_section]

Tax Reform Summary

[et_pb_section fb_built=”1″ _builder_version=”3.26.3″ custom_padding=”0px||0px|||”][et_pb_row _builder_version=”3.26.3″][et_pb_column type=”4_4″ _builder_version=”3.26.3″][et_pb_text _builder_version=”3.26.3″]If you are feeling confused by the recent tax reform proposals, you are not alone. With the Senate narrowly passing their version of tax reform early Saturday morning, both the House of Representatives and the Senate have now each passed their own versions of a tax legislation bill, but the… Read More

American Opportunity Tax Credit

[et_pb_section fb_built=”1″ _builder_version=”3.26.3″ custom_padding=”0px||0px|||”][et_pb_row _builder_version=”3.26.3″][et_pb_column type=”4_4″ _builder_version=”3.26.3″][et_pb_text _builder_version=”3.26.3″]As a recent university graduate, the American Opportunity Tax Credit is something that has directly benefitted me and something that I have been very grateful for. If you or one of your dependents is a university student, this might be something that could help you lower the amount… Read More

Thinking about giving this #GivingTuesday?

[et_pb_section fb_built=”1″ _builder_version=”3.26.3″ custom_padding=”0px||0px||true|false”][et_pb_row _builder_version=”3.26.3″][et_pb_column type=”4_4″ _builder_version=”3.26.3″][et_pb_text _builder_version=”3.26.3″]If you’re thinking in participating in #GivingTuesday, keep in mind that certain charitable contributions are deductible if you itemize on your 2016 tax return. IRS Select Check on IRS.gov is a searchable online tool that lists most eligible charitable organizations. Donations to  religious organizations and government agencies are eligible to… Read More

New Nevada Business Tax Quick Overview

[et_pb_section fb_built=”1″ _builder_version=”3.26.3″][et_pb_row _builder_version=”3.26.3″][et_pb_column _builder_version=”3.26.3″ type=”4_4″][et_pb_text _builder_version=”3.26.3″]Nevada has adopted a tax on businesses that generate more than $4,000,000 in revenues from within the state. Some of the notable features of the tax include: 1-      This is set up to be more of a franchise tax rather than an income tax. The standard nexus rules of… Read More