mark battersby

Money Talk: Related parties and the IRS

– By Mark Battersby – All too often unsuspecting rural building business owners find themselves facing penalties, fines and substantial tax bills because the ever-vigilant IRS has ignored a past transaction it views as having been conducted by “related persons.” Below-market rate loans, sales of property, installment sales, like-kind exchanges, intercompany transactions, etc. all...

Abandon everything but tax savings

Proper disposal of unused, unneeded or unwanted assets -By Mark Battersby- The IRS has long provided guidance to rural building businesses for capitalizing and depreciating their business property. Largely lost in even the most recent regulatory guidance however, are the proper procedures—and deductions—for disposing of any unused, unneeded or unwanted business assets or property....

Write-off basics and profits

– By Mark Battersby – Don’t miss out on deductions for depreciation that you’re entitled to take. As many rural builders have learned, our ever-changing tax rules make it difficult to get the full tax deduction they are entitled to for the tools, equipment and even the vehicles that are so essential to every...

Money Talk: Managing Cyber Security Risks

by Mark Battersby – The recent headlines about Internet “hacking” and security breaches have focused on large retailers such as Target, Neuman Marcus and Home Depot and big banks like JPMorgan Chase. Unfortunately, fraud and financial data losses are not limited to retailers nor to one industry. Small rural building operations and businesses are...

Money Talk: Lease or Buy? New rules to impact decision

– By Mark Battersby – Whether to buy or lease is a question facing many rural builders even as credit becomes more readily available. While there is no one correct answer that fits every situation nor every building business, compared to the simplicity of buying, leasing is far more complicated and may be getting...

Money Talk: Newer new rules for repair costs

IRS issues final regulations for builder expenses –  – By Mark Battersby – Since the inception of the Internal Revenue Code, the IRS and rural building businesses have been at odds over whether expenditures are deductible repairs or a capital expenditure. Now, after seven years of drafts and proposed rules, the IRS has issued...

Money Talk: ‘Home free’ with home office deductions

– By Mark Battersby – Everyone who runs his or her rural building business from a home office or uses a home office for management chores, will be happy to learn that the Internal Revenue Service has announced a new “safe harbor” that will allow them to deduct as much as $1,500 of the...

Money Talk: Understanding the new medicare taxes

– By Mark Battersby – Many builders, contractors face two new taxes Largely unnoticed, ignored or overshadowed by the talk about the “Fiscal Cliff,” higher tax rates, tax reform and the economy, many builders and contractors woke up on January 1, 2013, to face two new taxes. Thanks to the Health Care and Education...

CVR-RB-1212

Lease or buy? What rural builders should know when weighing the options

By Mark Ward – “Today’s variety of leasing options couldn’t come at a better time for construction businesses, which have experienced the worst market conditions we’ve seen in years,” reports William Sutton, president and CEO of the Washington-based Equipment Leasing and Finance Association. On the other hand, “This is a bad time for most...