AP GROUP INC

Congratulations to our very own Shannon Brogden for being recognized at CFMA’s annual Construction Executive of the Year Awards! Shannon was awarded Associate Member of the Year for going above and beyond in her role as Vice President and Secretary in the CFMA Sacramento chapter and for all her hard work within the construction industry community.

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Kelly Hansen's contributions during our first year as a firm were immeasurable and we are so grateful to have had the opportunity to learn and grow with her. Our thoughts are with her family and friends during this time. She will be greatly missed.

The recently passed tax reform bill, commonly referred to as the "Tax Cuts and Jobs Act" (TCJA), is the most expansive federal tax legislation since 1986. The new law means substantial changes for both individual taxpayers and businesses. Which ones will affect you and your business? Check out our article summarizing some of the major changes. For more details and to discuss how you might be affected in light of these changes, contact AP Group Inc at (916) 400-0022 or by emailing [email protected]. http://www.apcpagroup.com//tax-cuts-and-jobs-act-key-prov/

The year is quickly drawing to a close, but there’s still time to take steps to reduce your 2017 tax liability you just must act by December 31: Pay your 2017 property tax bill, normally due in early 2018 Pay your 2017 4th quarter state estimate, normally due January 16, 2018... Keep in mind, however, that in certain situations these strategies might not make sense. For example, if you’ll be subject to the alternative minimum tax this year or be in a higher tax bracket next year, taking some of these steps could have undesirable results. If you’re unsure whether these steps are right for you, consult us before taking action.

Thank you to our clients and partners for a wonderful first year! Happy holidays We look forward to helping you shine in 2018!

On December 13, 2016, the Internal Revenue Service issued the 2017 optional standard mileage rates used to calculate the deductible costs of operating an automobile for business, charitable, medical or moving purposes. Beginning on Jan. 1, 2017, the standard mileage rates for the use of a car (also vans, pickups or panel trucks) will be: - 53.5 cents per mile for business miles driven, down from 54 cents for 2016... - 17 cents per mile driven for medical or moving purposes, down from 19 cents for 2016 - 14 cents per mile driven in service of charitable organizations The business mileage rate decreased half a cent per mile and the medical and moving expense rates each dropped 2 cents per mile from 2016. The charitable rate is set by statute and remains unchanged. The standard mileage rate for business is based on an annual study of the fixed and variable costs of operating an automobile. The rate for medical and moving purposes is based on the variable costs. Taxpayers always have the option of calculating the actual costs of using their vehicle rather than using the standard mileage rates. A taxpayer may not use the business standard mileage rate for a vehicle after using any depreciation method under the Modified Accelerated Cost Recovery System (MACRS) or after claiming a Section 179 deduction for that vehicle. In addition, the business standard mileage rate cannot be used for more than four vehicles used simultaneously. These and other requirements are described in Rev. Proc. 2010-51. Notice 2016-79, posted are on IRS.gov, contain the standard mileage rates, the amount a taxpayer must use in calculating reductions to basis for depreciation taken under the business standard mileage rate, and the maximum standard automobile cost that a taxpayer may use in computing the allowance under a fixed and variable rate plan. Of course you can always just call us with questions!

Looking for education, industry specific news, or to become more involved in government advocacy? CFMA's website shows a number of various affiliated construction and professional industry associations with links to more information.