December 30, 2024
Which leadership skills are essential to strategic planning?
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…
The “kiddie tax” hurts families more than ever
July 30, 2019
Years ago, Congress enacted the “kiddie tax” rules to prevent parents and grandparents in high tax brackets from shifting income…
Take a closer look at home office deductions
July 30, 2019
Working from home has its perks. Not only can you skip the commute, but you also might be eligible to deduct home office expenses on your…
Run your strategic-planning meetings like they really matter
July 25, 2019
Many businesses struggle to turn abstract strategic-planning ideas into concrete, actionable plans. One reason why is simple: ineffective…
The “nanny tax” must be paid for more than just nannies
July 25, 2019
You may have heard of the “nanny tax.” But even if you don’t employ a nanny, it may apply to you. Hiring a housekeeper, gardener or other…
Businesses can utilize the same information IRS auditors use to examine tax returns
July 25, 2019
The IRS uses Audit Techniques Guides (ATGs) to help IRS examiners get ready for audits. Your business can use the same guides to gain…
Summer: A good time to review your investments
July 17, 2019
You may have heard about a proposal in Washington to cut the taxes paid on investments by indexing capital gains to inflation. Under the…
It’s a good time to buy business equipment and other depreciable property
July 16, 2019
There’s good news about the Section 179 depreciation deduction for business property. The election has long provided a tax windfall to…
Is your accounting software living up to the hype?
July 12, 2019
Accounting software typically sells itself as much more than simple spreadsheet or ledger. The products tend to pride themselves on being…
M&A transactions: Avoid surprises from the IRS
July 12, 2019
If you’re considering buying or selling a business — or you’re in the process of a merger or acquisition — it’s important that both parties…
Grading the performance of your company’s retirement plan
July 12, 2019
Imagine giving your company’s retirement plan a report card. Would it earn straight A’s in preparing your participants for their golden…
You may have to pay tax on Social Security benefits
July 10, 2019
During your working days, you pay Social Security tax in the form of withholding from your salary or self-employment tax. And when you…
If your kids are off to day camp, you may be eligible for a tax break
July 10, 2019
Now that most schools are out for the summer, you might be sending your children to day camp. It’s often a significant expense. The good…
Which entity is most suitable for your new or existing business?
July 10, 2019
The Tax Cuts and Jobs Act (TCJA) has changed the landscape for business taxpayers. That’s because the law introduced a flat 21% federal…
Bartering: A taxable transaction even if your business exchanges no cash
July 9, 2019
Small businesses may find it beneficial to barter for goods and services instead of paying cash for them. If your business engages in…
Put a number on your midyear performance with the right KPIs
June 21, 2019
We’ve reached the middle of the calendar year. So how are things going for your business? Conversationally you might say, “Pretty good.”…
Is an HSA right for you?
June 21, 2019
To help defray health care costs, many people now contribute to, or are thinking about setting up, Health Savings Accounts (HSAs). With…
2019 Q3 tax calendar: Key deadlines for businesses and other employers
June 21, 2019
Here are some of the key tax-related deadlines affecting businesses and other employers during the third quarter of 2019. Keep in mind that…
Could you unearth hidden profits in your company?
June 17, 2019
Can your business become more profitable without venturing out of its comfort zone? Of course! However, adding new products or services may…
Donating your vehicle to charity may not be a taxwise decision
June 17, 2019
You’ve probably seen or heard ads urging you to donate your car to charity. “Make a difference and receive tax savings,” one organization…
Your succession plan may benefit from a separation of business and real estate
June 11, 2019
Like most businesses, yours probably has a variety of physical assets, such as production equipment, office furnishings and a plethora of…
Hiring this summer? You may qualify for a valuable tax credit
June 11, 2019
Is your business hiring this summer? If the employees come from certain “targeted groups,” you may be eligible for the Work Opportunity Tax…