Selling your home? Consider these tax implications
May 17, 2019
Spring and summer are the optimum seasons for selling a home. And interest rates are currently attractive, so buyers may be out in full…
Consider a Roth 401(k) plan — and make sure employees use it
May 17, 2019
Roth 401(k) accounts have been around for 13 years now. Studies show that more employers are offering them each year. A recent study by the…
Buy vs. lease: Business equipment edition
May 9, 2019
Life presents us with many choices: paper or plastic, chocolate or vanilla, regular or decaf. For businesses, a common conundrum is buy or…
What type of expenses can’t be written off by your business?
May 7, 2019
If you read the Internal Revenue Code (and you probably don’t want to!), you may be surprised to find that most business deductions aren’t…
Prepare for the worst with a business turnaround strategy
May 6, 2019
Many businesses have a life cycle that, as life cycles tend to do, concludes with a period of decline and failure. Often, the demise of a…
Casualty loss deductions: You can claim one only for a federally declared disaster
May 6, 2019
Unforeseen disasters happen all the time and they may cause damage to your home or personal property. Before the Tax Cuts and Jobs Act,…
Should your health care plan be more future-focused?
May 2, 2019
The pace of health care cost inflation has remained moderate over the past year or so, and employers are trying to keep it that way. In…
Employee vs. independent contractor: How should you handle worker classification?
May 2, 2019
Many employers prefer to classify workers as independent contractors to lower costs, even if it means having less control over a worker’s…
How entrepreneurs must treat expenses on their tax returns
April 26, 2019
Have you recently started a new business? Or are you contemplating starting one? Launching a new venture is a hectic, exciting time. And as…
Three questions you may have after you file your return
April 16, 2019
Once your 2018 tax return has been successfully filed with the IRS, you may still have some questions. Here are brief answers to three…
Seniors: Medicare premiums could lower your tax bill
April 11, 2019
Americans who are 65 and older qualify for basic Medicare insurance, and they may need to pay additional premiums to get the level of…
Responding to the nightmare of a data breach
April 11, 2019
It’s every business owner’s nightmare. Should hackers gain access to your customers’ or employees’ sensitive data, the very reputation of…
Divorcing business owners need to pay attention to tax implications
April 8, 2019
If you’re getting a divorce, you know it’s a highly stressful time. But if you’re a business owner, tax issues can complicate matters even…
Present yet unaccounted for: The problem of presenteeism
April 5, 2019
Absenteeism has typically been a thorn in the side of many companies. But there’s a flip side to employees failing to show up to work:…
Make a deductible IRA contribution for 2018. It’s not too late!
April 5, 2019
Do you want to save more for retirement on a tax-favored basis? If so, and if you qualify, you can make a deductible traditional IRA…
Understanding how taxes factor into an M&A transaction
April 2, 2019
Merger and acquisition activity has been brisk in recent years. If your business is considering merging with or acquiring another business,…
Be vigilant about your business credit score
March 29, 2019
As an individual, you’ve no doubt been urged to regularly check your credit score. Most people nowadays know that, with a subpar personal…
Still working after age 70½? You may not have to begin 401(k) withdrawals
March 29, 2019
If you participate in a qualified retirement plan, such as a 401(k), you must generally begin taking required withdrawals from the plan no…
2019 Q2 tax calendar: Key deadlines for businesses and other employers
March 25, 2019
Here are some of the key tax-related deadlines that apply to businesses and other employers during the second quarter of 2019. Keep in mind…
An implementation plan is key to making strategic goals a reality
March 21, 2019
In the broadest sense, strategic planning comprises two primary tasks: establishing goals and achieving them. Many business owners would…
Stretch your college student’s spending money with the dependent tax credit
March 19, 2019
If you’re the parent of a child who is age 17 to 23, and you pay all (or most) of his or her expenses, you may be surprised to learn you’re…
There’s still time for small business owners to set up a SEP retirement plan for last year
March 12, 2019
If you own a business and don’t have a tax-advantaged retirement plan, it’s not too late to establish one and reduce your 2018 tax bill. A…
Using knowledge management to develop your succession plan
March 7, 2019
As the old saying goes, “Knowledge is power.” This certainly rings true in business, as those who best understand their industries and…
Vehicle-expense deduction ins and outs for individual taxpayers
March 5, 2019
It’s not just businesses that can deduct vehicle-related expenses. Individuals also can deduct them in certain circumstances.…