The Looming Capital Gains Tax Hike: The Potential Impact on Businesses and Individuals
To listen to this video in podcast form: James Eaton, CPA/PFS, MBA is a Principal of SC&H’s Tax Services practice with experience consulting clients on tax planning, annual compliance requirements, entity structuring, M&A consulting, and estate and trust planning. To connect with James directly, email jeaton@schgroup.com Ken Mann, is a Managing Director of SC&H ... Read more
Maryland Approves New Sales and Income Tax Measures Targeting Tech Services and High Earners
& Sarah Reeves | Senior Tax Manager To address budget deficits, the Maryland General Assembly recently passed a range of tax increases impacting both businesses and individuals. Among the most notable changes are: Here’s a breakdown of what changed and how it may impact you. New 3% Sales Tax on Data and IT Services Beginning ... Read more
Contract Compliance Audit
Contract Compliance Audit Services Specialized Contract Audits to Ensure Compliance Direct & Indirect Spend Audits Recover overpayments while strengthening your supplier relationships. Our team works to identify inadvertent errors, facilitate timely resolution, enhance processes, and improve contract language without disrupting operations. Third Party Risk Management Protect your bottom line while increasing value and transparency in ... Read more
10 Powerful Reasons You Need to Open a 529 College Savings Plan
Authored By Angelo Romano, CFP® | Senior Financial Advisor, SC&H Financial Advisors, Inc. Preparing for the cost of your child’s or loved one’s education requires careful planning and commitment. With the cost of college steadily increasing by nearly 12% year over year between 2010 and 2020, many families are turning to 529 college savings plans ... Read more
The 2022 Inflation Reduction Act: Some Key Individual and Business Impacts
Authored By Jim Wilhelm | Director, Tax On August 16th, the Inflation Reduction Act of 2022 was signed into law, enacting several new environment-related tax credits that are of interest to individuals and small businesses. Along with new tax credits, the Act also extends and modifies some pre-existing credits. Extension, Increase, and Modifications of the ... Read more
Understanding 529 College Savings Plans
Saving for a child’s education is a popular goal amongst parents today. With the cost of college ever increasing, determining when to start saving, where to place funds, and how much to save for college can often be overwhelming. To add to this sentiment, more often than not individuals are unaware of a 529 Plan ... Read more
IRS Makes Major Change to Fixed Asset Expensing Rules—Benefiting Many Small Businesses
The following blog post from SC&H’s Tax Services team discusses a recent change to the de minimis safe harbor threshold for expensing fixed assets, providing small businesses with the info to take advantage of this key tax-saving opportunity. The IRS’s September 2013 release of the Tangible Property Regulations (T.D. 9636) was a significant milestone, as ... Read more
The Importance of a Mature Contract Compliance Audit Program
The Importance of a Mature Contract Compliance Audit Program The Mature Contract Compliance Audit Program Defined Many companies conduct contract compliance audits and rightfully so – it’s a best practice and an attribute of a forward thinking, world-class organization. What differentiates a mature contract compliance audit program – and makes it more valuable – is that it ... Read more
Services
Services Customized services for your immediate needs, forward-thinking solutions for the future, and the right resources to help you realize your goals. Advisory & Transformation Accelerate digital and financial transformation for strategic growth. From actionable roadmaps to innovative technology and data solutions, we provide guidance to help your business scale and thrive. Area of Expertise ... Read more
Past Recession History Points to One Thing: Remain Steadfast to Your Strategic Financial Plan
Authored By Andrew Thompson, CFP® | Managing Director, SC&H Financial Advisors, Inc. During the course of 2021, we witnessed over 70 all-time highs in the S&P 500. For most investors, this meant a consistent stream of green arrows pointing upwards on their statements and nearly daily increases in the value of their portfolio. This led ... Read more
The American Rescue Plan Act of 2021: Key Insights for Businesses and Individuals
On March 11, 2021, President Biden signed the $1.9 trillion aid package—the American Rescue Plan Act of 2021 (“ARPA”)—which will provide another round of significant tax and non-tax stimulus. Our SC&H Tax team is sharing a breakdown of what this bill will mean for businesses, individuals, and our national economy as we head into our second year of the Covid-19 global pandemic. Impact on ... Read more
Hybrid Essbase: Why to Consider It&How to Get Started
Next to “moving to the cloud,” Hybrid Essbase has been getting much of the publicity in the world of Hyperion Planning and Essbase. With the increased need for on-demand data and zero-tolerance for poor performance, strategic implementation partners and administrators are always looking for a way to satisfy the latest business requirements. Unfortunately, even the ... Read more
