7 min read
Seven Midyear Tax Planning Tips for Individuals
Summer is a good time to reflect on tax planning moves that could lower this year's tax bill. It appears there won't be any significant federal tax...
3 min read
Deducting Start-Up Costs for Federal Tax Purposes
There's been a significant increase in new business applications in recent years. Finance company NerdWallet estimates that 2.8 million new business...
2 min read
Four Ways Businesses Can Better Control Cash Flow
From the minute they open their doors, business owners are urged to monitor cash flow closely. For good reason, even companies with booming sales can...
6 min read
What Can Your Small Business Do Now to Lower Taxes for 2024?
Summer is a good time to take stock of how your small business is doing this year and consider options for reducing your 2024 federal income tax...
2 min read
Be Aware of the Tax Consequences of Selling Business Property
You should understand the tax implications if you’re selling property used in your trade or business. Many complex rules can potentially apply. To...
2 min read
Know Your Hiring Costs
At some point, all business decisions come down to dollars and cents. How much will it cost to implement a particular program, and what's the...
2 min read
Businesses Must Face the Reality of Cyberattacks
With each passing year, as networked technology becomes more and more integral to how companies do business, a simple yet grim reality comes further...
2 min read
Three Ways Business Owners Should Look at Succession Planning
Business owners are rightly urged to develop succession plans so their companies will pass on to the next generation, or another iteration of...
3 min read
Moving Your Business? Keep Employees Well Informed
Moving is widely considered one of life's most stressful events — and that's just going from one residence to another. Imagine moving an entire...
5 min read
Smart Tax Planning Pays Off
If you're financially successful or expect to become so, taxes are or will become one of your biggest expenses — and most people want to minimize...
2 min read
Six Things Restaurant Owners Should Look for in an Accounting Service Provider
Running a restaurant can be challenging, to say the least. Handling finances while managing day-to-day operations can be overwhelming. That’s why...
2 min read
Growing Your Business with a New Partner: Here Are Some Tax Considerations
There are several financial and legal implications when adding a new partner to a partnership. Here’s an example to illustrate: You and your partners...
1 min read
You May Need to Make Estimated Tax Payments
You may have to make estimated tax payments if you earn income that's not subject to withholding, such as income from self-employment, interest,...
7 min read
Updated Guidance on Business Vehicle Depreciation
The rules for deducting depreciation expenses on vehicles used for business purposes have been liberalized under current tax law, but they remain...
2 min read
Why Some Businesses Choose to Execute a Pivot Strategy
When you encounter the word “pivot,” you may think of a politician changing course on a certain issue or perhaps a group of friends trying to move a...
2 min read
You May Want to Separate Real Estate Assets from Your Business
Many companies choose not to combine real estate and other assets into a single entity. Perhaps the business fears liability for injuries suffered on...
2 min read
Business Owners, Your Financial Statements Are Trying to Tell You Something
Business owners are commonly and rightfully urged to generate financial statements regularly in compliance with Generally Accepted Accounting...
3 min read
Should Married Couples File Jointly or Separately?
Once you're married, you have two options when it comes to filing your annual federal income tax return — married filing jointly or married filing...
4 min read
Chart a Tax Course for Business Travel
Are you planning to take a business trip this year? If your destination is known for its cultural or recreational attractions, you might want to...
4 min read
Eight Red Flags for IRS Audits
The number of people being audited by the IRS isn't that high. For many years, less than 1% of taxpayers undergo face-to-face audits (although...
5 min read
Growth Strategies: How to Take Your Business to the Next Level
Once your business has survived the start-up phase, it's got a solid foundation to grow. Business and financial advisory services are critical at...
4 min read
Help Wanted: Hiring Your Kids to Work for Your Small Business
If you own a small business, you might consider hiring your kids to work during their time off from school. In addition to teaching your children...
3 min read
Withdrawing Cash from Your C Corporation
C corporation owners often need to take cash out of the business to pay personal expenses or to shield excess cash from creditors. Paying dividends...
2 min read
Responsibilities When Collecting W-4s
Employees don't always take the task of filling out their W-4 forms seriously. They may write "exempt" on the withholding portion of the form or even...
2 min read
Perform an Operational Review to See How Well Your Business Is Running
In the wide, wide world of mergers and acquisitions (M&A), most business buyers conduct thorough due diligence before closing their deals. This...
2 min read
Cost-Effective Ways to Improve Retention
Like many other businesses, your company may occasionally endure downturns during which revenues stagnate, and your ability to authorize generous...
2 min read
Can Your Company Revise its Payday Schedule?
Paydays are sacred in the workplace. Some employees who can't remember how many years they've been married or how long it's been since their last...
3 min read
Keys to Avoid Payroll Tax Trouble
What would happen if your company failed to pay the IRS payroll taxes when they were due? You could be on the hook for penalties and, if you're...
2 min read
Nine Tax Considerations if You're Starting a Business as a Sole Proprietor
When launching a small business, many entrepreneurs start out as sole proprietors. If you’re launching a venture as a sole proprietorship, you need...
2 min read
Clear Overtime Policy Saves Money
It's not enough to have a one-sentence statement in your employee handbook that merely tells your employees something like this: "All time worked...
3 min read
Do's and Don'ts for Business Expense Deductions
As tax season heats up, companies of all kinds and sizes will be on the hunt for ways to reduce their tax bills. One of the most common ways is...