At Machen McChesney we are committed to Returning Value to you through our monthly e-newsletter, The Value Report.

Here you'll find regular tips to help with your business and personal finances, as well as strategies to grow and more efficiently run your organization. 

1. The Rules for PALs Are Not Friendly
2. Taking a Fresh Look at LIFO Conformity
3. GOP Tax Reform Plan Calls for Across-the-Board Rate Cuts and Territorial Tax System
4. WOTC Additional Extension 2016
5. New Overtime Regulations Signal Big Changes for Employers
6. What's New at Machen McChesney

The Rules for PALs Are Not Friendly

Do you own investment real estate—say, an apartment building—that you rent out to tenants? Real estate can be a valuable and reliable source of income. Of course, the rental income is subject to tax, but the resulting tax liability may be offset by deductible expenses. In some cases, you might even qualify for a loss. Continue reading.

GOP Tax Reform Plan Calls for Across-the-Board Rate Cuts and Territorial Tax System

Congress recently extended the application of the work opportunity tax credit (the “WOTC”) to an employee who began working after December 31, 2014, and before January 1, 2020. Because the extension was not enacted until December 15, 2015, and the application for pre-screening an employee must be filed within 28 days after an employee begins work, the Service granted transitional relief extending the application due date for an employee hired on or after January 1, 2015 through August 31, 2016. Other than extending the time frames of transition relief, the recent notice does not otherwise modify the terms of the original IRS Notice 2016-22. Continue reading. 

New Overtime Regulations Signal Big Changes for Employers 

If you're an employer with full and part-time employees, get ready for potentially big changes in how certain employees may be entitled to overtime pay.  The ramifications of new governmental regulations could have a sizeable impact on your bottom line—and if you're an employer that's affected, it may not take long to feel the bite. Continue reading.

What's New at Machen McChesney?

Sponsorships, new hires, announcements
Continue reading.

We hope you found value in The Value Report you've received this month. We look forward to finding even more ways to Return Value to you in the future.