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Returning Value Blog

Marty Williams, CPA

Marty Williams has worked in the accounting profession for 27 years, almost all of which has been at Machen McChesney where he specializes in tax, 1031 exchanges and business advisory services. Industries expertise includes construction, manufacturing, real estate, professional services and healthcare. In addition to firm management, Marty works with business core processes and the Business Tax and Business Advisor Services groups on ways to consistently return value to Machen McChesney clients.

Recent Posts

New Law Ushers in Major Retirement Changes

Posted by Marty Williams, CPA on Jan 12, 2023

There's been buzz about new retirement plan provisions for weeks, and now they're final, bringing about changes to various federal rules and adding flexibility for current and future retirees. The Secure 2.0 Act of 2022, part of the Consolidated Appropriations Act of 2023, includes the following modifications, some of which are immediate and others that will take effect in the future.

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Posted in Business Advisory

Intangible Assets: How Must the Costs Incurred Be Capitalized?

Posted by Marty Williams, CPA on Dec 16, 2022

These days, most businesses have some intangible assets. The tax treatment of these assets can be complex.

What makes intangibles so complicated?

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Posted in Business Tax

Inflation Reduction Act Provisions of Interest to Small Businesses

Posted by Marty Williams, CPA on Sep 01, 2022

The Inflation Reduction Act (IRA), signed into law by President Biden on August 16, contains many provisions related to climate, energy, and taxes. There has been a lot of media coverage about the law's impact on large corporations. For example, the IRA contains a new 15% alternative minimum tax on large, profitable corporations. And the law adds a 1% excise tax on stock buybacks of more than $1 million by publicly traded U.S. corporations.

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Posted in Business Advisory, Business Tax, News & Events

Senate Approves Inflation Reduction Act With Changes to Tax Provisions

Posted by Marty Williams, CPA on Aug 11, 2022

Twelve days after Sens. Joe Manchin (D-WV) and Charles Schumer (D-NY) announced that they had reached agreement on a healthcare, climate, and tax bill, the U.S. Senate on August 7 approved the Inflation Reduction Act on a party-line vote, with all 50 Democratic Senators voting for the legislation and all Republicans voting against it, and Vice President Kamala Harris casting the decisive 51st vote in favor.

Full Story

Posted in News & Events

When Interest Rates Rise, Optimizing Tax Accounting Methods Can Drive Cash Savings

Posted by Marty Williams, CPA on Jul 21, 2022

U.S. businesses have been hit by the perfect storm. As the pandemic continues to disrupt supply chains and plague much of the global economy, the war in Europe further complicates the landscape, disrupting major supplies of energy and other commodities. In the U.S., price inflation has accelerated the Federal Reserve’s plans to raise interest rates and commence quantitative tightening, making debt more expensive. The stock market has declined sharply, and the prospect of a recession is on the rise. Further, U.S. consumer demand may be cooling despite a strong labor market and low unemployment. As a result of these and other pressures, many businesses are rethinking their supply chains and countries of operation as they also search for opportunities to free up or preserve cash in the face of uncertain headwinds.

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Posted in Business Advisory

Help When Needed: Apply the Research Credit Against Payroll Taxes

Posted by Marty Williams, CPA on Jun 07, 2022

Here’s an interesting option if your small company or start-up business is planning to claim the research tax credit. Subject to limits, you can elect to apply all or some of any research tax credits that you earn against your payroll taxes instead of your income tax. This payroll tax election may influence some businesses to undertake or increase their research activities. On the other hand, if you’re engaged in or are planning to engage in research activities without regard to tax consequences, be aware that some tax relief could be in your future.

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Posted in Business Advisory

Tax Considerations When Adding a New Partner at Your Business

Posted by Marty Williams, CPA on Apr 19, 2022

Adding a new partner in a partnership has several financial and legal implications. Let’s say you and your partners are planning to admit a new partner. The new partner will acquire a one-third interest in the partnership by making a cash contribution to it. Let’s further assume that your bases in your partnership interests are sufficient so that the decrease in your portions of the partnership’s liabilities because of the new partner’s entry won’t reduce your bases to zero.

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Posted in Business Advisory

Establish a Tax-Favored Retirement Plan

Posted by Marty Williams, CPA on Mar 16, 2022

If your business doesn’t already have a retirement plan, now might be a good time to take the plunge. Current retirement plan rules allow for significant tax-deductible contributions.

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Posted in Business Advisory

Defer Tax With a Like-Kind Exchange

Posted by Marty Williams, CPA on Jan 12, 2022

Do you want to sell commercial or investment real estate that has appreciated significantly? One way to defer a tax bill on the gain is with a Section 1031 “like-kind” exchange where you exchange the property rather than sell it. With real estate prices up in some markets (and higher resulting tax bills), the like-kind exchange strategy may be attractive.

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Posted in Business Tax

Year-End Financial Planning Checklist

Posted by Marty Williams, CPA on Dec 16, 2021

With the end of 2021 coming into focus, we have many areas of uncertainty to navigate on the healthcare, economic, and political front. As we encourage our clients to continue thinking and acting long term, there are pockets of near-term financial planning opportunities to consider as the calendar rolls toward year-end.

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Posted in Retirement & Wealth Management Planning

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