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Returning Value Blog

Michael D. Machen, CPA, CVA

Recent Posts

Self-Employed? Build a Nest Egg With a Solo 401(K) Plan

Posted by Michael D. Machen, CPA, CVA on Sep 09, 2022

Do you own a successful small business with no employees and want to set up a retirement plan? Or do you want to upgrade from a SIMPLE IRA or Simplified Employee Pension (SEP) plan? Consider a solo 401(k) if you have a healthy self-employment income and want to contribute substantial amounts to a retirement nest egg.

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Posted in Retirement Planning

Plan Sponsor Alert: Cryptocurrency Investments and the DOL's Warning

Posted by Michael D. Machen, CPA, CVA on Aug 12, 2022

Cryptocurrencies and the volatility of the digital currency market have garnered a lot of attention in the retirement plan industry over the past few years. The Department of Labor (DOL) has issued a stern warning about cryptocurrencies on investment menus and brokerage platforms within 401(k) plans. Since the release of the warning, third-party plan providers have responded with differing stances on the guidance released. Some 401(k) providers believe that the DOL has gone too far.

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Posted in Business Advisory

Carried Interest Taxation Changes Proposed in Inflation Reduction Act of 2022

Posted by Michael D. Machen, CPA, CVA on Aug 05, 2022

Taxpayers should be aware that they may soon lose the advantage of long-term capital gain treatment in respect of carried interest should the Inflation Reduction Act of 2022 (2022 IRA) become law. The deal on a reconciliation package announced on July 27 by Senators Chuck Schumer (D-N.Y.) and Joe Manchin (D-W.Va.) would raise an estimated $739 billion in revenue, of which an estimated $14 billion would come from closing tax-advantaged provisions for carried interests.

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Posted in Tax News

Is Your Company Effectively Managing Tax Risk?

Posted by Michael D. Machen, CPA, CVA on Jul 25, 2022

The concept of “tax risk” is an increasingly important and regular topic of discussion across organizations and in boardrooms, and for good reason. Businesses that operate across state lines or internationally can, in certain cases, trigger tax liabilities in jurisdictions where they do not have a physical presence. In addition, many countries are adopting policies requiring greater transparency in tax and financial reporting, providing tax administrations more information with which to raise investigations and issue assessments. As companies place additional focus on social responsibility and fiscal transparency, the benefits of having a tax risk policy in place can be substantial. Given the rapidly changing global tax environment combined with the continued demand for tax departments to add value to the organization, an effective tax risk policy is a necessity for any business needing to better manage tax risk.

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Posted in Tax Planning

Back to School Sales Tax Holiday Weekend for 2022

Posted by Michael D. Machen, CPA, CVA on Jul 14, 2022

This year the State of Alabama will be participating in the Back-to-School Sales Tax Holiday Weekend beginning at 12:01 a.m. Friday, July 15, 2022, and ending at midnight Sunday, July 17, 2022. Alabama’s 17th annual sales tax holiday for school-related items allows shoppers to purchase certain school supplies, computers, books, and clothing free of the state’s four percent sales or use tax.

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Posted in News & Events

Construction Ahead: Opportunities and Challenges in 2022

Posted by Michael D. Machen, CPA, CVA on Jun 23, 2022

The Infrastructure Investment and Jobs Act (H.R. 3684) will inject approximately $3 trillion into upgrading and expanding U.S. infrastructure, presenting a long horizon of opportunity for the construction industry.

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Posted in Business Advisory

Do You Know the Signs of Financial Distress in a Business?

Posted by Michael D. Machen, CPA, CVA on May 19, 2022

Financial statements tell only part of the story. Investors, lenders, and other stakeholders who know how to identify red flags of impending problems can protect their own financial interests. Additional due diligence may be needed to uncover these issues. For instance, stakeholders might need to talk to management, visit the company’s website and compute financial benchmarks using the company’s most recent financial statement. Here’s what to look for.

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Posted in Business Advisory

White House Unveils 2023 Budget Proposal

Posted by Michael D. Machen, CPA, CVA on Apr 07, 2022

The Biden administration, on March 28, issued its fiscal year 2023 budget, which would reduce the national deficit by approximately $1 trillion over 10 years primarily by increasing the corporate tax rate to 28% and introducing a minimum tax on billionaires.

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Posted in Tax News

The Rise of Electric Vehicles

Posted by Michael D. Machen, CPA, CVA on Mar 18, 2022

Convergence of the Industry

The automotive industry is experiencing a convergence of disruptions unlike any seen since 1910. Autonomous, connectivity, electrification, mobility, and subscription business models are reshaping the automotive industry and creating a frenzy of activity.

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Posted in Business Advisory, News & Events

Real Estate in the Rear View + Outlook for 2022

Posted by Michael D. Machen, CPA, CVA on Feb 23, 2022

2021 was the first full year that the global economy cycled through the pandemic. What were the predictions going into 2021, and where did we actually end up? Here we take a look at how the real estate and construction industries fared last year and where they’re headed in 2022.

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Posted in Business Advisory, News & Events

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