February 12, 2025
You don’t have to be in business to deduct certain vehicle expenses
6 tried-and-true strategies for improving collections
August 11, 2023
Businesses that operate in the retail or restaurant spheres have it relatively easy when it comes to collections. They generally take…
Use the tax code to make business losses less painful
August 9, 2023
Whether you’re operating a new company or an established business, losses can happen. The federal tax code may help soften the blow by…
Questions you may still have after filing your tax return
August 7, 2023
If you’ve successfully filed your 2022 tax return with the IRS, you may think you’re done with taxes for another year. But some questions…
The IRS has just announced 2024 amounts for Health Savings Accounts
August 4, 2023
The IRS recently released guidance providing the 2024 inflation-adjusted amounts for Health Savings Accounts (HSAs). HSA fundamentals An…
Is it time for a targeted marketing campaign?
August 2, 2023
If you’ve been in business a while, you might assume that you know exactly who your customers are. But, as the saying goes, “life comes at…
Being a gig worker comes with tax consequences
June 16, 2023
In recent years, many workers have become engaged in the “gig” economy. You may think of gig workers as those who deliver take-out…
How might the Internet of Things affect your business?
June 14, 2023
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
June 12, 2023
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
June 9, 2023
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
June 7, 2023
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
June 5, 2023
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
June 2, 2023
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)
May 31, 2023
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
May 29, 2023
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
May 26, 2023
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
May 24, 2023
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
May 22, 2023
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
May 19, 2023
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
May 17, 2023
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
May 15, 2023
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?
May 12, 2023
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
May 10, 2023
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
May 8, 2023
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
May 5, 2023
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…