3 min read
Paying Out Tips - Daily, Weekly, Payroll?
Do you remember your first day of work at your job? I remember being equally excited for the new adventure and anxious about how well I would do. I...
4 min read
Hiring Employees: 7 Tips to Help Attract the Best
In today's labor market, some small businesses — including restaurants, delivery services, retail stores, and manufacturers — struggle to attract and...
3 min read
IRS Explains the Differences Between Tips and Service Charges
Employers in restaurants, hotels, casinos, and other service industries must comply with the tax rules associated with tips. To assist them, the IRS...
3 min read
Tax-Smart Way to Hold Investment Real Estate
Real estate can be an attractive long-term investment. However, the legal entity you select to own property can have important tax implications....
3 min read
How Long Do You Have to Retain Payroll Records?
The Social Security Administration and the IRS have issued a joint publication that offers valuable pointers for employers who want to clean up their...
3 min read
Most Small Businesses are Required to Report "Beneficial Ownership Information" (BOI) to Feds by the end of 2024
The Corporate Transparency Act (“CTA”) was enacted into law and requires most businesses to report certain “beneficial ownership information” (“BOI”)...
2 min read
Federal Tax News for Individuals
529 Accounts are not Just for College It's still summer, but it won't be long until school bells will be ringing again. If you've set up Section 529...
2 min read
Strategic Planning for Businesses Needs to Include Innovation
When the leadership teams of many companies engage in strategic planning, they may be inclined to play it safe. And that’s understandable; sticking...
2 min read
Three Areas of Focus for Companies Looking to Control Costs
Controlling costs is fundamental for every business. However, the location and method of addressing this challenge can change over time based on...
3 min read
How to Protect Your Business from Payroll Fraud Schemes
Payroll fraud threatens any business that pays employees or contractors. Unfortunately, this type of financial crime can go undetected for...
2 min read
Closing a Business Involves a Number of Tax Responsibilities
While many facets of the economy have improved this year, the rising cost of living and other economic factors have caused many businesses to close...
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...