Conner Ash P.C. - Certified Public Accountants and Business Consultants

Conner Ash P.C. - Certified Public Accountants and Business Consultants Conner Ash has been serving a wide variety of commercial, not-for-profit, and individual clients for over 85 years.

Our mission is to provide high-quality accounting and business advisory services that help our clients achieve what matters most to them and to do so in a manner that exceeds their expectations. As one of the top 20 public accounting firms in the St. Louis area, Conner Ash offers a wide range of accounting, assurance, tax, management advisory, and software consulting services. For more information

about Conner Ash please visit our website at www.connerash.com

Conner Ash P.C. is an independent member of BKR International, a leading global association of independent accounting and business advisory firms representing the expertise of more than 135 member firms with over 300 offices in over 70 countries around the world. Services:
Accounting, Audit and Assurance, Business Valuation, Management Assistance, Tax Planning & Compliance, Employee Benefit Plans, Fraud Prevention& Detection, Trusts & Estate Planning, Accounting Software Consulting

There are many reasons individuals may need to access their tax transcripts. They include the need to file a tax return ...
09/02/2026

There are many reasons individuals may need to access their tax transcripts. They include the need to file a tax return or apply for a mortgage or loan. In a Tax Tip (2026-25), the IRS lists several types of tax transcripts available for free to taxpayers. A tax return transcript shows most line items from the taxpayer’s original Form 1040-series tax return, along with any forms and schedules. It’s available for the current and three prior tax years. A tax account transcript shows basic information such as filing status, taxable income and payment types. It’s generally available for the current and nine prior tax years. To learn about other available transcripts: https://bit.ly/4qGb7za

Offering severance can help employers manage difficult workforce transitions. But if you’re considering it for your orga...
09/02/2026

Offering severance can help employers manage difficult workforce transitions. But if you’re considering it for your organization, be sure to account for the total financial impact beyond the payment itself. Severance generally constitutes taxable wages subject to withholding and employment taxes. Meanwhile, accrued paid leave, continuation of benefits and professional fees may add to the total cost of an employee’s departure. Payment timing can also affect your cash flow. And because state laws govern how severance may affect unemployment benefits, don’t assume it will prevent a claim. Contact us to evaluate all the tax and financial implications.

The Taxpayer Advocate Service (TAS) is sharing tips for taxpayers who may be eligible for the IRS’s Automatic Exemption ...
09/01/2026

The Taxpayer Advocate Service (TAS) is sharing tips for taxpayers who may be eligible for the IRS’s Automatic Exemption from Penalty (AEP) program. You may qualify if you have a history of timely filing and payment compliance. The AEP fully replaces the First Time Abate program for original returns with due dates on or after Jan. 1, 2027, and also may apply to 2025 original returns and 2026 quarterly returns. The TAS says you shouldn’t ignore an IRS notice assessing a penalty. If you don’t receive a separate notice explaining that AEP was applied and you think you may be eligible, call the IRS at the toll-free number on your notice to request penalty relief. For details: https://bit.ly/3Ug5yvf

A profitable business can still run short of cash. Working capital — the difference between current assets and current l...
09/01/2026

A profitable business can still run short of cash. Working capital — the difference between current assets and current liabilities — can provide insight into a business’s ability to meet near-term obligations and pursue growth opportunities. Effective working capital management focuses on three key areas: collecting receivables, maintaining appropriate inventory levels and managing payables. Regularly monitoring these components can help reveal operational issues before they become larger cash-flow problems. Contact us for help evaluating your existing processes and identifying strategies to strengthen your working capital management.

You don’t have to engage with the IRS on your own. The tax agency allows third-party authorizations, meaning you can ask...
08/31/2026

You don’t have to engage with the IRS on your own. The tax agency allows third-party authorizations, meaning you can ask a family member, friend, tax advisor or attorney to help with tax matters you specify. You may provide power of attorney to professionals authorized to practice before the IRS. They can represent and sign for you and receive your IRS communications. Other designations include “tax information authorization,” which enables someone to view your tax data and “third-party designee,” which lets someone discuss your return with the IRS. If you bring someone to an IRS meeting, the attendee only requires an “oral disclosure.” You can revoke an authorization at any time.

Teachers and other educators often spend their own money on books, supplies, equipment and other classroom needs. For 20...
08/31/2026

Teachers and other educators often spend their own money on books, supplies, equipment and other classroom needs. For 2026, eligible educators may have two ways to deduct qualifying unreimbursed expenses: A deduction of up to $350 is available whether or not they itemize, and a new deduction with no dollar cap is available to itemizers. Educators eligible for both deductions can first claim the above-the-line deduction and reap the benefits of reducing their adjusted gross income and, if they have eligible expenses in excess of $350, claim the itemized deduction for those excess expenses. (Educators can’t claim both deductions for the same expenses.) Contact us to see if you may be eligible.

If you’re considering gifts to family members in a lower tax bracket, giving long-term appreciated stock rather than cas...
08/28/2026

If you’re considering gifts to family members in a lower tax bracket, giving long-term appreciated stock rather than cash can offer valuable tax savings. You may be able to eliminate federal income tax on the capital gains if the loved one is in the 0% tax bracket for long-term gains. The recipient can potentially sell the stock tax-free. But the 0% rate applies only until the gains fill up the gap between the recipient’s taxable income and the top of the 0% bracket. Before acting, make sure the recipient won’t be subject to the “kiddie tax” and consider gift and generation-skipping transfer tax consequences. We can answer any questions and suggest other ways to reduce taxes on investments.

Planning to sell your business or acquire another one? Taxes can play a significant role in the outcome of the deal. For...
08/27/2026

Planning to sell your business or acquire another one? Taxes can play a significant role in the outcome of the deal. For tax purposes, a merger or acquisition is generally structured as either an asset sale or a sale of stock (or another form of ownership interest). Sellers generally prefer stock sales, while buyers favor asset purchases — and each approach can have very different tax consequences. Evaluating the tax impact early can help you structure the transaction more effectively and avoid costly surprises after the deal is signed. If a business sale, merger or acquisition is on your horizon, contact us to discuss the tax considerations before you move forward.

Bartering can be a viable way to conduct business, especially if you’re strapped for cash. But you can’t escape tax obli...
08/27/2026

Bartering can be a viable way to conduct business, especially if you’re strapped for cash. But you can’t escape tax obligations.

The fair market value of goods or services you receive generally must be reported as taxable income. Business expenses related to the exchange may also be deductible. Special rules apply if you use a barter exchange, including when trade credits are taxable and whether Form 1099-B reporting applies.

Good records are essential, including documentation of the fair market value, invoices, barter agreements and statements from barter exchanges. Whether you already barter or are considering it, contact us to discuss the tax and reporting implications.

As the public in many communities pushes back on data center development, lawmakers are considering new tax policies for...
08/26/2026

As the public in many communities pushes back on data center development, lawmakers are considering new tax policies for these enterprises. In the U.S. Senate, there’s a proposal to eliminate federal tax incentives for data centers, including ending eligibility for 100% bonus depreciation. This proposal would also introduce an excise tax on data centers’ gross receipts. In the U.S. House, the Data Center Community Reinvestment Act would impose a 1-cent-per-kilowatt-hour tax on electricity used by certain data centers. Critics of these proposals, however, suggest they’d only push data centers — and their economic benefits — overseas.

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St. Louis, MO
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