HM&M Accounting, Audit and Assurance, & Tax Blog

Hey Vance, How Long Should I Keep My Tax Records?

Regularly, I am asked how long one should keep tax records.  This is an important and straight-forward question. My usual answer is less direct: “it depends.” As you can see below, that’s a pretty good ...

Managing Growing Retail and Consumer Risk in Tandem with Increased Innovation and Cybersecurity

As digital transformation becomes a core part of overall strategy, retail and consumer products companies should prioritize threat-based cybersecurity. Threat-based cybersecurity is a forward-looking, predictive approach. Instead of (or in addition to) focusing solely on ...

The TCJA Limit on Interest Expense Deductions

Abstract:   The Tax Cuts and Jobs Act introduced a variety of tax benefits for businesses. At the same time, the act placed limits on several tax breaks, including the amount of interest expense a business ...

What You Now Need To Know About Meal, Travel, and Entertainment

Abstract: When owners, managers and salespeople attend trade shows, call on customers or evaluate suppliers, they may incur meal, travel, and entertainment expenses. This article explains that many of these expenses may be deductible if ...

Did You Repair Your Business Property or Improve It?

Abstract: Business owners may think that, if they repair a piece of tangible property, they’ll qualify for an immediate tax deduction. But the IRS may define that “repair” as an “improvement,” and require the costs ...

Excess Business Loss Rule May Be Unfavorable To You

Abstract: Sole proprietorships and pass-through entity structures, which include partnerships, S corporations and certain limited liability companies (LLCs), provide owners with some valuable tax benefits, such as avoidance of double taxation and the potential ability to ...

Top 10 Internal Controls to Mitigate Cybersecurity Risks in the Family Office

Current Cybersecurity Trends “It is estimated that by 2027, global spending on cybersecurity will reach $10 billion. In this age of IoT, where there is no escaping the internet, it is very important to understand ...

Is it Time to Reconsider the Decision to Buy or Lease Equipment?

Given the historically low interest rate environment in which we find ourselves, most business owners in capital intensive industries will be impelled to explore their options when it comes to obtaining new equipment. Whether it’s ...

HUD Releases Guidance on Reporting 2019 PHA Executive Compensation

PIH 2019-21, published by HUD on August 2nd, provides information needed to report the latest round of PHA Executive Compensation data for 2018. The deadline to report 2018 salaries is October 18, 2019. New This ...

Retirement Benefits and Millennials

Attracting and retaining millennials, the largest segment of today’s workforce, is a priority for companies in one of the tightest labor markets in history. One way to do this is to re-evaluate the company’s benefits—particularly ...

A Roadmap for Preventing Construction Disputes

Whether resolved through mediation, arbitration or trial, construction disputes can be costly and time consuming for both project owners and contractors. Construction disputes may involve just a few thousand dollars or may be valued in the ...

With Increased Activity and Demand, Increased Disputes in the Midstream

BDO Webinar Recap By Clark Sackschewsky and Bob Broxson In our recent webinar, Navigating Midstream Energy Disputes: The Key to U.S. Oil & Gas Growth, BDO’s Natural Resources and Energy Disputes leaders, joined by Robert ...

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