January 3, 2025
Is your home office a tax haven? Here are the rules for deductions
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…
Employers: Be aware (or beware) of a harsh payroll tax penalty
June 6, 2019
If federal income tax and employment taxes (including Social Security) are withheld from employees’ paychecks and not handed over to the…
Thinking about moving to another state in retirement? Don’t forget about taxes
June 6, 2019
When you retire, you may consider moving to another state — say, for the weather or to be closer to your loved ones. Don’t forget to factor…
Targeting and converting your company’s sales prospects
May 30, 2019
Companies tend to spend considerable time and resources training and upskilling their sales staff on how to handle existing customers. And…
Tax-smart domestic travel: Combining business with pleasure
May 28, 2019
Summer is just around the corner, so you might be thinking about getting some vacation time. If you’re self-employed or a business owner,…
The chances of IRS audit are down but you should still be prepared
May 28, 2019
The IRS just released its audit statistics for the 2018 fiscal year, and fewer taxpayers had their returns examined as compared with prior…
Build long-term relationships with CRM software
May 24, 2019
Few businesses today can afford to let potential buyers slip through the cracks. Customer relationship management (CRM) software can help…
It’s a good time to check your withholding and make changes, if necessary
May 23, 2019
Due to the massive changes in the Tax Cuts and Jobs Act (TCJA), the 2019 filing season resulted in surprises. Some filers who have gotten a…
Hire your children this summer: Everyone wins
May 20, 2019
If you’re a business owner and you hire your children (or grandchildren) this summer, you can obtain tax breaks and other nontax benefits.…
The simple truth about annual performance reviews
May 17, 2019
There are many ways for employers to conduct annual performance reviews. So many, in fact, that owners of small to midsize businesses may…
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…