Professional Services Accounting Firms | Meyers Brothers Kalicka, P.C.

Professional Services

Nobody knows your business better than you do. It’s our business to help your business thrive.

Contributing To Your Success

Whether you are an attorney, physician, insurance or financial advisor, architect or engineer, Marcus Buckingham’s quote is quintessential when establishing your team of advisors. At Meyers Brothers Kalicka, P.C., our expert knowledge of accounting, tax and financial planning has helped business owners in the professional services industry ensure their financial success while they concentrate on serving their clients.

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Professional Services

Areas of Focus: Law firms, Insurance agencies, Medical and dental practices, Employment agencies, Management and business consulting firms, Architectural firms, Engineering firms

Tax planning and consulting

Management advisory services

Wealth management

Tax return preparation and compliance

Financial forecasts, budgets and projections

Cost control and strategic cost reduction

Business valuations

Mergers and acquisitions

Audits, reviews, compilations

Employee benefit plans

Controllership services

Industry benchmarks

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Experienced Professional Services Accounting Team

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Professional Services Accounting Insights

Bad Debt Deductions

By Sarah Rose Stack • 15 Apr, 2024

The tax code allows an individual to claim a deduction for business debts that have become worthless. But qualifying for the deduction may be more complicated than one would think. In a recent case, the IRS denied more than $17 million in bad debt deductions on the grounds that the advances in question represented equity rather than debt, hitting the taxpayer with millions of dollars in taxes and penalties. This article recounts the U.S. Tax Court case Allen v. Commissioner. Allen v. Commissioner (T.C. Memo 2023-86).

Deducting Business Travel Expenses: A Refresher

By Sarah Rose Stack • 01 Apr, 2024

During the COVID-19 pandemic, business travel nearly came to a halt. Today, it’s on the rebound, as “Zoom-fatigued” executives craving face-to-face interaction hit the road again. With more people getting out of their offices, now is a good time for a refresher on the tax deductibility of business travel expenses. This article explores what’s considered one’s tax home and what expenses are deductible. A sidebar explains the deductibility rules when a business trip is mixed with pleasure.

Making Distinctions May Create Tax Savings for Owners of Rental Real Estate

By Sarah Rose Stack • 01 Apr, 2024

The 20% qualified business income (QBI) deduction is available for income from an eligible trade or business, but it isn’t available if that same property is classified as an investment. This article points out that it’s worth considering whether an owned rental property meets the definition of a trade or business under IRS requirements. It also explains that determining whether rental real estate activities qualify for the QBI deduction is a complicated undertaking and is likely to require the services of a tax professional.

Real People. Real Stories. Real Results.

"MBK is actively engaged with management regarding audit updates as well as business strategy. They provide a thoughtful sounding board on pressing issues and their consultative approach helps ensure a seamless annual audit process."

Jay K. | Westfield Gas & Electric

"MBK offered exceptional expertise to our established consulting company. They found opportunities that our previous provider had missed for years, saving us money and positioning us for more growth in the future. We highly recommend MBK as they are more than tax preparers – they are essentially like business partners."

Ryan S. | The Stack Group Inc.