When do valuable gifts to charity require an appraisal?

If you donate valuable items to charity and you want to deduct them on your tax return, you may be required to get an appraisal. The IRS…

Businesses must face the reality of cyberattacks and continue fighting back

With each passing year, as networked technology becomes more and more integral to how companies do business, a simple yet grim reality…

Tax tips when buying the assets of a business

After experiencing a downturn in 2023, merger and acquisition activity in several sectors is rebounding in 2024. If you’re buying a…

A three-step strategy to save tax when selling appreciated vacant land

Let’s say you own one or more vacant lots. The property has appreciated greatly and you’re ready to sell. Or maybe you have a parcel of…

Could conversational marketing speak to your business?

Businesses have long been advised to engage in active dialogues with their customers and prospects. The problem was, historically, these…

Should you convert your business from a C to an S corporation?

Choosing the right business entity has many implications, including the amount of your tax bill. The most common business structures are…

Timelines: 3 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…

Inflation enhances the 2025 amounts for Health Savings Accounts

The IRS recently released guidance providing the 2025 inflation-adjusted amounts for Health Savings Accounts (HSAs). These amounts are…

House rich but cash poor? Consider a reverse mortgage strategy

Are you an older taxpayer who owns a house that has appreciated greatly? At the same time, you may need income. Thankfully, there could be…

Why businesses may want to integrate ESG into strategic planning

When business owners and their leadership teams meet to discuss strategic planning, the primary question on the table is usually something…

The tax consequences of selling mutual funds

Do you invest in mutual funds or are you interested in putting some money into them? If so, you’re part of a large group. According to the…

4 ways businesses can better control cash flow

From the minute they open their doors, business owners are urged to keep a close eye on cash flow. And for good reason — even companies…

Social Security tax update: How high can it go?

Employees, self-employed individuals and employers all pay Social Security tax, and the amounts can get bigger every year. And yet, many…

How family businesses can solve the compensation puzzle

Every type of company needs to devise a philosophy, strategy and various policies regarding compensation. Family businesses, however, face…

What might be ahead as many tax provisions are scheduled to expire?

Buckle up, America: Major tax changes are on the horizon. The reason has to do with tax law and the upcoming elections. Our current…

Businesses have options for technology leadership positions

To say that technology continues to affect how businesses operate and interact with customers and prospects would be an understatement.…

Consider borrowing from your corporation but structure the deal carefully

If you own a closely held corporation, you can borrow funds from your business at rates that are lower than those charged by a bank. But…

Certain charitable donations allow you to avoid taxable IRA withdrawals

If you’re a philanthropic individual who is also obligated to take required minimum distributions (RMDs) from a traditional IRA, you may…

Could a 412(e)(3) retirement plan suit your business?

When companies reach the point where they’re ready to sponsor a qualified retirement plan, the first one that may come to mind is the…

Be aware of the tax consequences of selling business property

If you’re selling property used in your trade or business, you should understand the tax implications. There are many complex rules that…

Planning your estate? Don’t overlook income taxes

The current estate tax exemption amount ($13.61 million in 2024) has led many people to feel they no longer need to be concerned about…

3 areas of focus for companies looking to control costs

Controlling costs is fundamental for every business. But where and how to address this challenge can change over time based on various…

If your business has co-owners, you probably need a buy-sell agreement

Are you buying a business that will have one or more co-owners? Or do you already own one fitting that description? If so, consider…

Six tax issues to consider if you’re getting divorced

Divorce entails difficult personal issues, and taxes are probably the farthest thing from your mind. However, several tax concerns may need…