How might the Internet of Things affect your business?

Once upon a time, there was the Internet. Relatively speaking, it was easy to understand. The Internet was (and is) a network on which any…

Sailing a steady ship in today’s interesting economy

Business owners: If you’re having trouble reading the U.S. economy, you’re not alone. On the one hand, the January 2023 jobs report…

Key tax issues in M&A transactions

Merger and acquisition activity dropped dramatically last year due to rising interest rates and a slowing economy. The total value of…

Child Tax Credit: The rules keep changing but it’s still valuable

If you’re a parent, you may be confused about the rules for claiming the Child Tax Credit (CTC). The rules and credit amounts have changed…

Do you run a business from home? You may be able to deduct home office expenses

Many people began working from home during the COVID-19 pandemic — and many still work from their home offices either all the time or on a…

Buying a new business vehicle? A heavy SUV is a tax-smart choice

If you’re buying or replacing a vehicle that you’ll use in your business, be aware that a heavy SUV may provide a more generous tax break…

Influencer marketing could help your business (or not)

Most companies today have some sort of presence on social media as part of their marketing efforts. If you’ve spent any time online as a…

Awarded money in a lawsuit or settlement? It’s only tax-free in certain circumstances

You generally must pay federal tax on all income you receive but there are some exceptions when you can exclude it. For example,…

Supreme Court: Overtime rules still apply to highly compensated employees

If you were told someone earns more than $200,000 annually, you might assume the person is a salaried employee who’s ineligible for…

Protect the “ordinary and necessary” advertising expenses of your business

Under tax law, businesses can generally deduct advertising and marketing expenses that help keep existing customers and bring in new ones.…

Forming a cross-functional sales team

Business owners are often warned about silos. Not the tall, cylindrical structures typically seen on farms or at grain processing…

Changes in Sec. 174 make it a good time to review the R&E strategy of your business

It’s been years since the Tax Cuts and Jobs Act (TCJA) of 2017 was signed into law, but it’s still having an impact. Several provisions in…

Keep an eye out for executive fraud

Occupational fraud can be defined as crimes committed by employees against the organizations that they work for. Perhaps its most dangerous…

ACA penalties will rise in 2024

Recently, the IRS announced 2024 indexing adjustments to the applicable dollar amount used to calculate employer shared responsibility…

Choosing an entity for your business? How about an S corporation?

If you’re starting a business with some partners and wondering what type of entity to form, an S corporation may be the most suitable form…

Some taxpayers qualify for more favorable “head of household” tax filing status

When preparing your tax return, we’ll check one of the following statuses: Single, married filing jointly, married filing separately, head…

How businesses can use stress testing to improve risk management

If you’ve been following the news lately, you’ve surely heard or read about the sudden rise in concern about the banking industry. Although…

The tax advantages of hiring your child this summer

Summer is around the corner so you may be thinking about hiring young people at your small business. At the same time, you may have…

The tax rules for donating artwork to charity

If you’re an art collector, you may wonder about the tax breaks available for donating a work of art to charity. Several different tax…

It’s happening: Using social media for customer service

Everyone is on social media these days, including businesses and their customers. This creates a natural — or shall we say virtual — nexus…

Paperwork you can toss after filing your tax return

Once you file your 2022 tax return, you may wonder what personal tax papers you can throw away and how long you should retain certain…

Retirement saving options for your small business: Keep it simple

If you’re thinking about setting up a retirement plan for yourself and your employees, but you’re worried about the financial commitment…

5 valuation terms that every business owner should know

As a business owner, you’ll likely need to have your company appraised at some point. An appraisal is essential in the event of a business…

Renting to a relative? Watch out for tax traps

If you own a home and rent it to a relative, you may be surprised to find out there could be tax consequences. Quick rundown of the rules…