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McBrayer Blogs

Showing 8 posts from March 2014.

Apple helps startup company make a go of it

Sometimes a small business can pursue greater opportunities through the assistance of a much larger company.  A company called iHealth specializing in wearables for those with certain medical conditions was a startup company for a Chinese manufacturer.  Apple has since provided the company assistance regarding the development of an app. More >

The Tax Benefits of an Accessible Business

If you are the owner of a business that is open to the public, it is your responsibility to ensure that it is compliant with the Americans with Disabilities Act of 1990 ("ADA") accessibility provisions. While complying with federal laws can be onerous at times, there are certain tax benefits available for making improvements to your office space. More >

Deciding whether to make an election for an S corporation

Kentucky business owners will often form a corporate or other business entity due to tax considerations.  Without this formation income and tax expenses can end up on one's Schedule C for the personal tax return.  The problem with a Schedule C is that this sort of tax return is one that may trigger an audit by the IRS. More >

The Future of Non-Profits & Politics

Nonprofit organizations have played an important role in America's history, but that role may soon be redefined as the IRS seeks to reform the tax code provision that gives life to these organizations. Currently, a nonprofit organized under Section 501(c)(4) of the tax code can engage in politics and remain tax-exempt if more than half of its money and time is spent on "social welfare activities." As a result, especially in recent years, several nonprofit organizations have entered into the political arena with big wallets and a set agenda, both on local and national stages - especially because political nonprofit organizations are permitted to keep donor names confidential. A study by the Center for Responsive Politics found that political spending by nonprofit organizations skyrocketed from less than $5.2 million in 2006 to more than $300 million in 2012. More >

Tax incentives approved by Kentucky house for certain businesses

Kentucky lawmakers have decided to extend tax incentives to help spur on expansion projects being conducted by AK Steel and General Electric. Those sponsoring the bill hope that the bills will protect high-paying jobs that are being offered by these corporations. The bills reportedly passed without opposition. More >

Relief for M&A Brokers in Form of No-Action Letter

Recently, the Division of Trading and Markets ("the Division") of the U.S. Securities and Exchange Commission released a no-action letter indicating that the staff of the SEC would not recommend enforcement action against an "M&A Broker", even though that person or firm will receive compensation for assisting in the private sale of the stock of a target company. Those in the financial industry have long argued that the role of an M&A Broker is different from that of institutional brokerages and those qualified as such should not have to deal with the full costs and regulatory burdens associated with broker-dealer registration. More >

Proposed Bill Would Promote P3s in Kentucky

In July, the Kentucky Chamber of Commerce released a report entitled Private Solutions to Public Problems: Partnerships to Build a Better Government. The Chamber report, which was the subject of an earlier post, describes the benefits that public-private partnerships ("P3s") can provide to the Commonwealth. As a refresher, a public-private partnership typically involves a working relationship between a state or local government unit and a private business under which the business builds, finances and/or operates a project the governmental agency would have financed, built and operated in years past. The Kentucky Chamber report provides a broader definition that includes the provision by private entities of a wider variety of government services. More >

Supplier of industrial and medical gases is acquired

Airgas, Inc. has acquired Welding & Therapy Services, Inc. Airgas is a leading supplier of industrial, medical and specialty gases. Welding & Therapy, a company that also supplies industrial and medical gas as well as being a welding supply distributor has five locations spread across Kentucky and Indiana. Airgas has been serving customers in two separate states for longer than 40 years.  Also, the the revenues of the company exceed $10 million annually. More >

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