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

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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

Owners of businesses taxed as partnerships sometimes pay work-related expenses out of pocket. Whether such payments are ...
10/26/2026

Owners of businesses taxed as partnerships sometimes pay work-related expenses out of pocket. Whether such payments are deductible for federal tax purposes depends largely on the partnership agreement, LLC operating agreement, or an established policy or practice. Allowable expenses may be deductible if the owner is required to bear them without reimbursement. Expenses that could have been reimbursed — regardless of whether reimbursement was requested — generally aren’t deductible. Qualifying costs include business meals, vehicle expenses and home office expenses, subject to applicable limits and substantiation rules. Contact us to review your business’s policies and potential deductions.

As the year draws to a close, your employer’s 401(k) plan may offer an opportunity to reduce your 2026 income taxes. If ...
10/26/2026

As the year draws to a close, your employer’s 401(k) plan may offer an opportunity to reduce your 2026 income taxes. If you haven’t been contributing, it may not be too late to start. And if you’re already contributing, increasing the amount you contribute from each paycheck before year end could boost your 2026 tax savings. If your employer matches contributions, try to contribute at least enough to receive the maximum match. Otherwise, you’ll lose out on free money! Check with your employer about deadlines and available options. We can help you evaluate the tax implications and determine whether increasing your contributions makes sense for your situation.

The IRS has released Standard Industry Fare Level (SIFL) rates for valuing noncommercial flights on employer-provided ai...
10/23/2026

The IRS has released Standard Industry Fare Level (SIFL) rates for valuing noncommercial flights on employer-provided aircraft from July 1, 2026, through Dec. 31, 2026. The rates, combined with an adjustment based on the aircraft’s weight and employee’s status, are used to calculate the taxable value of certain personal flights provided as employee fringe benefits. The rates are $0.3225 per mile for the first 500 miles, $0.2459 per mile for 501 through 1,500 miles, and $0.2364 per mile for miles exceeding 1,500. A $58.95 terminal charge also applies. The Dept. of Transportation calculates the SIFL rates and terminal charge. They’re reviewed semiannually. Contact us with questions.

The Social Security Administration has announced that Social Security benefits for 2027, including Old-Age, Survivors an...
10/22/2026

The Social Security Administration has announced that Social Security benefits for 2027, including Old-Age, Survivors and Disability Insurance (OASDI) and Supplemental Security Income (SSI) payments, will increase 3.6%. This is the largest annual cost-of-living increase since 2023, driven primarily by high inflation. Social Security retirement benefits will increase by about $75 per month on average starting in January. Increased payments to SSI recipients will begin on Dec. 31, 2026. (Note: Some people receive both Social Security benefits and SSI.) The maximum earnings subject to Social Security tax (the so-called “wage base”) will increase $7,800, from $184,500 to $192,300.

It’s time to address year-end tax planning, especially if your business is booming. Start by projecting your 2026 tax ob...
10/22/2026

It’s time to address year-end tax planning, especially if your business is booming. Start by projecting your 2026 tax obligation and assessing whether estimated payments made throughout the year are sufficient. You may need to adjust your fourth payment to potentially avoid (or minimize) underpayment penalties.

Also consider tax-reduction strategies, such as timing revenue and expenses, taking advantage of the qualified business income deduction, contributing to a retirement plan and leveraging first-year depreciation write-offs for eligible asset purchases.

These moves require careful coordination, so contact us to explore your options. We can help develop a plan tailored to your situation.

Year-end tax planning is especially important for business owners expecting substantial losses in 2026. The “excess” bus...
10/21/2026

Year-end tax planning is especially important for business owners expecting substantial losses in 2026. The “excess” business loss limitation restricts the amount of business losses noncorporate taxpayers can use to offset other income. Losses from these entities flow through to the owners and generally can offset income from other sources (such as salary, interest, dividends and capital gains) only up to the applicable excess business loss limit. For 2026, the limit drops to $256,000, or $512,000 for joint filers, down from $313,000 and $626,000, respectively, for 2025. Losses exceeding these limits generally become net operating loss carryforwards. Contact us for guidance.

Return-to-office (RTO) policies may benefit some employers, but they can impose substantial costs on employees. A recent...
10/21/2026

Return-to-office (RTO) policies may benefit some employers, but they can impose substantial costs on employees. A recent study estimated that office workers spend an average of $6,736 annually on commuting, meals and other work-related expenses — plus time spent commuting and preparing for office days. These burdens can influence employees’ decisions about where to work, potentially affecting hiring and retention efforts. Before implementing or strengthening an RTO policy, consider whether its benefits justify the costs. Hybrid schedules, flexible hours and transportation benefits may help you strike a balance. Contact us for guidance on evaluating the financial impact of any policy changes.

Changes could be coming to your Health Savings Account (HSA). A new U.S. House bill would enable families to contribute ...
10/20/2026

Changes could be coming to your Health Savings Account (HSA). A new U.S. House bill would enable families to contribute additional funds to their HSAs in the year a child is born or adopted. In 2027, HSA participants normally will be able to contribute up to $4,500 (self-only coverage) and $9,000 (family coverage) pre-tax. The Savings for Tomorrow’s Opportunities, Raising Kids (STORK) Act would allow a one-time contribution of an additional $2,000 per qualifying child — so, for example, $4,000 for twins. HSA owners can take tax-free HSA withdrawals to pay medical expenses, and the STORK Act specifically aims to help offset the high cost of maternity and newborn care.

Financial statements help owners and other stakeholders evaluate historical business performance. But trouble can develo...
10/20/2026

Financial statements help owners and other stakeholders evaluate historical business performance. But trouble can develop between reporting periods. So it’s critical to monitor operational changes for issues that could affect your financial interests. Unexpected turnover, delayed financial reports and unusual transactions may warrant a closer look. So can repeated borrowing, reliance on an owner’s personal credit or sales of equipment needed for operations. Individually, these developments may be explainable. Together, they could point to financial stress. Contact us to help identify potential risks and evaluate a business’s overall financial health.

Catching wealthy individual and corporate tax evaders often requires cross-border cooperation. That’s why the IRS has pa...
10/19/2026

Catching wealthy individual and corporate tax evaders often requires cross-border cooperation. That’s why the IRS has partnered with the UK on its whistleblower program, the Strengthened Reward Scheme. According to the IRS, financial crimes increasingly employ “offshore accounts, shell companies, and fraudulent transfers that are incredibly difficult for external investigators to trace.” Among other things, whistleblowers can report money laundering, hidden assets and transfer pricing manipulation. Individuals with information don’t need to be U.S. or UK citizens to blow the whistle and potentially receive a monetary award.

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12101 Woodcrest Executive Drive, Ste 300
St. Louis, MO
63141

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