Tax TipsTax AdviceTax AdvisorTax DeductionsIncome Tax
Holiday parties and gifts can help show your appreciation and provide tax breaks
December 3, 2019
With Thanksgiving behind us, the holiday season is in full swing. At this time of year, your business may want to show its gratitude to…
What is your taxpayer filing status?
December 3, 2019
For tax purposes, December 31 means more than New Year’s Eve celebrations. It affects the filing status box that will be checked on your…
Tax AdviceTax AdvisorImpact on TaxesCapital Gains
TCJA Tax Strategies 2: Capital Gains – accessing the 0% and 15% capital gain rates and tax planning for capital transactions.
December 2, 2019
Often clients inquire with our office with questions like “What is my capital gains rate?” or “How much will I be taxed on a sale of…
Tax TipsBusiness TaxesTax AdviceTax AdvisorTax DeductionsImpact on TaxesTax PlanningIncome Tax
2019 Year-End Tax Planning
November 13, 2019
As the end of the year approaches, it is a good time to think of planning moves that will help lower your tax bill for this year and…
Business TaxesTax AdviceBusiness
Small businesses: Get ready for your 1099-MISC reporting requirements
November 12, 2019
A month after the new year begins, your business may be required to comply with rules to report amounts paid to independent contractors,…
Is multicloud computing right for your business?
November 6, 2019
Cloud computing — storing data and accessing apps via the Internet — has been widely adopted by businesses across industry and size. Like…
You may be ABLE to save for a disabled family member with a tax-advantaged account
November 5, 2019
There’s a tax-advantaged way for people to save for the needs of family members with disabilities — without having them lose eligibility…
IRA charitable donations are an alternative to taxable required distributions
November 4, 2019
Are you charitably minded and have a significant amount of money in an IRA? If you’re age 70½ or older, and don’t need the money from…
A shadow board could shed light on your company’s best future
November 1, 2019
In many industries, market conditions move fast. Businesses that don’t have their ears to the ground can quickly get left behind. That’s…
At the very least, update the financials in your business plan
October 24, 2019
Every new company should launch with a business plan and keep it updated. Generally, such a plan will comprise six sections: executive…
Selling securities by year end? Avoid the wash sale rule
October 23, 2019
If you’re planning to sell assets at a loss to offset gains that have been realized during the year, it’s important to be aware of the…
Accelerate depreciation deductions with a cost segregation study
October 21, 2019
Is your business depreciating over a 30-year period the entire cost of constructing the building that houses your operation? If so, you…
Setting up a Health Savings Account for your small business
October 14, 2019
Given the escalating cost of employee health care benefits, your business may be interested in providing some of these benefits through an…
6 ways to ensure your marketing plan drives sales
October 9, 2019
“Love and marriage,” goes the old song: “…You can’t have one without the other.” This also holds true for sales and marketing. Even the…
Watch out for tax-related scams
October 8, 2019
“Thousands of people have lost millions of dollars and their personal information to tax scams,” according to the IRS. Criminals can…
The chances of an IRS audit are low, but business owners should be prepared
October 2, 2019
Many business owners ask: How can I avoid an IRS audit? The good news is that the odds against being audited are in your favor. In fiscal…
Does your team know the profitability game plan?
September 25, 2019
Autumn brings falling leaves and … the gridiron. Football teams — from high school to pro — are trying to put as many wins on the board as…
How to treat your business website costs for tax purposes
September 23, 2019
These days, most businesses need a website to remain competitive. It’s an easy decision to set one up and maintain it. But determining the…
How to research a business customer’s creditworthiness
September 19, 2019
Extending credit to business customers can be an effective way to build goodwill and nurture long-term buyers. But if you extend customer…
Uncle Sam may provide relief from college costs on your tax return
September 18, 2019
We all know the cost of college is expensive. The latest figures from the College Board show that the average annual cost of tuition and…
5 ways to withdraw cash from your corporation while avoiding dividend treatment
September 17, 2019
Do you want to withdraw cash from your closely held corporation at a low tax cost? The easiest way is to distribute cash as a dividend.…
The next estimated tax deadline is September 16: Do you have to make a payment?
September 4, 2019
If you’re self-employed and don’t have withholding from paychecks, you probably have to make estimated tax payments. These payments must be…
Is it time to hire a CFO or controller?
August 9, 2019
Many business owners reach a point where managing the financial side of the enterprise becomes overwhelming. Usually, this is a good thing…
The tax implications of being a winner
August 6, 2019
If you’re lucky enough to be a winner at gambling or the lottery, congratulations! After you celebrate, be ready to deal with the tax…