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TAX CONSULTING AND COMPLIANCE NEWS
Second Quarter 2019
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New Kentucky Tax Law Brings Significant Changes, Clarifications
Kentucky Governor Matthew Bevin recently signed legislation which provides changes to income, property, and sales/use taxes as well as technical changes and clarifications to 2018's tax reform law. To read the full article on these changes and clarifications, click here.
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Managing Your Taxable Income
Trying to better manage your taxable income? Health Savings Accounts (HSAs) are a tax-free way to pay for medical expenses. Health savings accounts (HSAs) have grown in popularity since they were first introduced in 2004; however, many individuals are still unaware of the triple tax benefits available with these accounts. HSAs are the only investment vehicle that provides tax-free contributions, earnings and distributions to pay for medical expenses. These personal accounts also offer opportunities for individuals to accumulate funds for their retirement years. Click here for more information.
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Earn-outs With Continued Employment: Purchase Price or Compensation?
Contingent payments are often a common component of a merger and acquisition transaction. Depending upon the facts and circumstances, the tax treatment of contingent payments could have significant impacts on both the buyer and seller. Click here for more information.
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10 Mistakes Business Owners Make When Thinking About Whether to E
xit
Business succession planning can be stressful. There are 10 common mistakes business owners make when thinking about whether to exit.
One primary example is being too emotionally attached to their businesses.
It is understandable that business owners have an emotional attachment to their businesses. After all, they have typically birthed the ventures, nurtured them along, sacrificed to make them work, and poured their heart and soul into trying to make them successful. Often, owners view the business as a reflection of their own personal worth, not just financially but also as the culmination of their life's work. It is a source of pride and accomplishment and not just a means for financial security.
Click here for the complete list and ideas on how to avoid these common mistakes.
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ABOUT
HARDING, SHYMANSKI & COMPANY, P.S.C.
Harding, Shymanski & Company, P.S.C. is a public accounting firm with offices in Evansville, Indiana, and Louisville, Kentucky. We are one of the largest accounting firms in Southern Indiana and Kentucky, providing experienced professionals who look beyond the numbers to the heart of complex issues.
If you are interested in additional news or event information, stay connected through our website and industry newsletters or follow our LinkedIn Company page.
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SEE WHAT OUR CLIENTS ARE SAYING...
L &D Mail Masters has grown from a small, home based business to a full-service direct marketing provider with over 135 full-time staff members and 188,000 square feet of production and storage space. Through that period of growth, it became apparent that we needed more than just an accounting firm who prepared our taxes...we needed advice.
We have found Harding, Shymanski and Company to be extremely proactive and there to give us advice, even in advance. They are more than just an accounting firm...they are our Trusted Advisor.
Diane Fischer, President, L&D Mail Masters
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Disclaimer: The information contained in this email is for general guidance on matters of interest only. The publication does not, and is not intended to provide legal, tax or accounting advice.
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Harding, Shymanski & Company, P.S.C.
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