A & A:

  • Prepare F/S
  • Prepare job status reports for bonding
  • Prepare state contractor's license applications

Business Advisory Services:

  • Provide/support advanced construction-industry accounting software
  • Facilitate meetings between accounting and project managers
  • Train/assist with monthly financial statement preparation
  • Design custom management reports

Taxes:

  • Annual tax planning and planning for future transactions to minimize annual and cumulative tax liability
  • Preparation of all kinds of tax returns aimed at obtaining every benefit of the complex and constantly changing tax law

Wealth Accumulation and Management:

  • Pension/profit sharing/401(k) plan design, installation and administration
  • Compensation plan development to maximize tax benefits available to owners and key employees
  • Investment education for plan participants and owners
  • Business succession/exit strategy planning and implementation
  • Estate planning to minimize estate and gift taxes

 

 

New Rules on Company-owned Life insurance

Numerous tax law changes were made in the recently enacted Pension Protection Act. Among these is a significant change in the rules concerning life insurance owned by a company on the life of an employee.

Read Full Story


More On Tax free exchanges with real estate

There are a number of twists to the concept of a tax-free exchange that are not widely known. What follows is an outline of some of these interesting techniques:

A Section 1031 exchange does not have to be simultaneous. You have up to 45 days to identify a replace-ment property and 180 days to close on that property. However, you cannot receive or escrow the proceeds from the property you sell. In general, you would need a "Qualified Intermediary" to hold the funds that will be reinvested in the replacement property. Having your attorney or closing agent hold the money won't work either.

Read Full Story


Charitable Contribution Rules Tougher

The new Pension Protection Act has toughened the rules on deducting charitable contributions.

Read Full Story


Spotlight on Commercial Real Estate

Starting November 1, 2006, every commercial real estate transaction will be under new federal regulations that establish environmental due diligence standards.

Read Full Story


Inherited Retirement Plans

Under current tax law, only the surviving spouse can roll over the retirement plan of a deceased person into an IRA.

Read Full Story


Inside Corner: Focus on L&G Staff

Here are some updates on what some of our staff are doing:

In all of last issue's wedding news, we forgot to mention another L&G newlywed - Dustin Zabrocki! Dustin married Kimberly Morris on December 10, 2005 at First United Methodist Church in Lawrenceville. Kimberly is a ballet and jazz instructor in Cumming, Georgia.

Read Full Story


Frequently Asked Questions

Q1: I wish to sell some appreciated farm land I own, and I'm interested in deferring taxes on the gain. However, I need cash flow and don't want to just buy more real estate. What should I do?

A1: You could consider doing a 1031 exchange of the farmland for income-producing (rental) property. If you also want to avoid the headaches from managing a rental property, you could consider exchanging the farmland for an interest as a tenant-in-common (TIC) in a shopping center that pays suitable cash flow to the co-owners. Or you could defer gain by taking back a mortgage and financing the buyer.

Read Full Story

 

If you have any questions, please contact us.

Sincerely,

Large & Gilbert, P.C.

6849 Peachtree Dunwoody Road
Building A-2
Atlanta, Georgia 30328
Phone: 770-671-1533
Fax: 770-671-1347
Email: receptionist@largeandgilbert.com


L&G’s MISSION:
TO HELP OUR CLIENTS AND STAFF
ACHIEVE FINANCIAL SUCCESS AND RETIRE COMFORTABLY.

 Forward! To forward this to a colleague, click here.

To be removed from the mailing list, click here