BMG CPAs Grows Lincoln Office, Adds Partners, and Expands into Omaha

BMG CPAs Grows Lincoln Office, Adds Partners, and Expands into Omaha BMG Certified Public Accountants, LLP (BMG) of Lincoln is excited to announce a merger with Strain, Slattery, Barkley & Co, P.C. (SSB) of Lincoln effective January 1, 2020. BMG and SSB have a long history of working together and both firms can trace their […]

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The key to retirement security is picking the right plan for your business

The key to retirement security is picking the right plan for your business If you’re a small business owner or you’re involved in a start-up, you may want to set up a tax-favored retirement plan for yourself and any employees. Several types of plans are eligible for tax advantages. 401(k) plan One of the best-known […]

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The tax implications of a company car

The tax implications of a company car The use of a company vehicle is a valuable fringe benefit for owners and employees of small businesses. This benefit results in tax deductions for the employer as well as tax breaks for the owners and employees using the cars. (And of course, they get the nontax benefits […]

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Some business owners can’t participate in their own companies’ HRAs

Some business owners can’t participate in their own companies’ HRAs Many companies now offer Health Reimbursement Arrangements (HRAs) in conjunction with high-deductible health plans (HDHPs). HRAs offer some advantages over the perhaps better-known HDHP companion account, the Health Savings Account (HSA). If you’re considering adding an HRA, you might assume that, as a business owner, […]

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Expenses that teachers can and can’t deduct on their tax returns

Expenses that teachers can and can’t deduct on their tax returns As teachers head back for a new school year, they often pay for various expenses for which they don’t receive reimbursement. Fortunately, they may be able to deduct them on their tax returns. However, there are limits on this special deduction, and some expenses […]

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