December 23, 2024
It’s time for your small business to think about year-end tax planning
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.…
Will leasing equipment or buying it be more tax efficient for your business?
March 5, 2019
Recent changes to federal tax law and accounting rules could affect whether you decide to lease or buy equipment or other fixed assets.…
Are your employees ignoring their 401(k)s?
March 1, 2019
For many businesses, offering employees a 401(k) plan is no longer an option — it’s a competitive necessity. But employees often grow so…
Careful tax planning required for incentive stock options
March 1, 2019
Incentive stock options (ISOs) are a popular form of compensation for executives and other employees of corporations. They allow you to buy…
Beware the Ides of March — if you own a pass-through entity
February 28, 2019
Shakespeare’s words don’t apply just to Julius Caesar; they also apply to calendar-year partnerships, S corporations and limited liability…
The home office deduction: Actual expenses vs. the simplified method
February 20, 2019
If you run your business from your home or perform certain functions at home that are related to your business, you might be able to claim…
Some of your deductions may be smaller (or nonexistent) when you file your 2018 tax return
February 20, 2019
While the Tax Cuts and Jobs Act (TCJA) reduces most income tax rates and expands some tax breaks, it limits or eliminates several itemized…
Best practices when filing a business interruption claim
February 14, 2019
Many companies, especially those that operate in areas prone to natural disasters, should consider business interruption insurance. Unlike…
When are LLC members subject to self-employment tax?
February 11, 2019
Limited liability company (LLC) members commonly claim that their distributive shares of LLC income — after deducting compensation for…
Financial statements tell your business’s story, inside and out
February 8, 2019
Ask many entrepreneurs and small business owners to show you their financial statements and they’ll likely open a laptop and show you their…
Why you shouldn’t wait to file your 2018 income tax return
February 6, 2019
The IRS opened the 2018 income tax return filing season on January 28. Even if you typically don’t file until much closer to the April 15…
Refine your strategic plan with SWOT
February 4, 2019
With the year underway, your business probably has a strategic plan in place for the months ahead. Or maybe you’ve created a general…
Investment interest expense is still deductible, but that doesn’t necessarily mean you’ll benefit
January 30, 2019
As you likely know by now, the Tax Cuts and Jobs Act (TCJA) reduced or eliminated many deductions for individuals. One itemized deduction…
Depreciation-related breaks on business real estate: What you need to know when you file your 2018 return
January 28, 2019
Commercial buildings and improvements generally are depreciated over 39 years, which essentially means you can deduct a portion of the cost…
Is your business stuck in the mud with its marketing plan?
January 24, 2019
A good marketing plan should be like a network of well-paved, clearly marked roads shooting out into the world and leading back to your…
Many tax-related limits affecting businesses increase for 2019
January 24, 2019
A variety of tax-related limits affecting businesses are annually indexed for inflation, and many have gone up for 2019. Here’s a look at…