February 21, 2025
Marketing your B2B company via the right channels
Better tax break when applying the research credit against payroll taxes
September 9, 2024
The credit for increasing research activities, often referred to as the research and development (R&D) credit, is a valuable tax break…
A job loss is bad but the tax implications could make it worse
September 6, 2024
Unemployment has been holding steady recently at 3.7%. But there are still some people losing their jobs — particularly in certain…
Empower your sellers with sales enablement
September 4, 2024
The driving revenue force of just about every kind of business is sales. But all too often, once a sales team is up and running, it’s left…
Maximize the QBI deduction before it’s gone
September 2, 2024
The qualified business income (QBI) deduction is available to eligible businesses through 2025. After that, it’s scheduled to disappear. So…
Beware of a stealth tax on Social Security benefits
August 30, 2024
Some people mistakenly believe that Social Security benefits are always free from federal income tax. Unfortunately, that’s often not the…
B2B businesses: Assess customer credit carefully
August 28, 2024
Does your company operate in the business-to-business (B2B) marketplace? If so, you’re no doubt aware of the double-edged sword that is…
Bartering is a taxable transaction even if no cash is exchanged
August 26, 2024
If your small business is strapped for cash (or likes to save money), you may find it beneficial to barter or trade for goods and services.…
How renting out a vacation property will affect your taxes
August 23, 2024
Are you dreaming of buying a vacation beach home, lakefront cottage or ski chalet? Or perhaps you’re fortunate enough to already own a…
Should your business change its health care plan for next year?
August 21, 2024
Open enrollment for most health care plans is many months away. That makes now a good time for businesses to consider changing their…
Coordinating Sec. 179 tax deductions with bonus depreciation
August 19, 2024
Your business should generally maximize current year depreciation write-offs for newly acquired assets. Two federal tax breaks can be a big…
Update on retirement account required minimum distributions
August 16, 2024
If you have a tax-favored retirement account, including a traditional IRA, you’ll become exposed to the federal income tax required minimum…
2024 Q2 tax calendar: Key deadlines for businesses and employers
August 14, 2024
Here are some of the key tax-related deadlines that apply to businesses and other employers during the second quarter of 2024. Keep in mind…
Business owners, your financial statements are trying to tell you something
August 14, 2024
Business owners are commonly and rightfully urged to regularly generate financial statements in compliance with Generally Accepted…
A general look at generative AI for businesses
August 12, 2024
If you follow the news, you’ve probably heard a lot about artificial intelligence (AI) and how it’s slowly and steadily expanding into…
The tax deadline is almost here: File for an extension if you’re not ready
August 12, 2024
The April 15 tax filing deadline is right around the corner. However, you might not be ready to file. Sometimes, it’s not possible to…
Scrupulous records and legitimate business expenses are the key to less painful IRS audits
August 9, 2024
If you operate a business, or you’re starting a new one, you know records of income and expenses need to be kept. Specifically, you should…
Keep these 3 issues in mind after you file your return
August 7, 2024
The tax filing deadline for 2023 tax returns is April 15 this year. If you need more time, you can file for an extension until October 15.…
7 common payroll risks for small to midsize businesses
August 5, 2024
If your company has been in business for a while, you may not pay much attention to your payroll system so long as it’s running smoothly.…
Don’t have a tax-favored retirement plan? Set one up now
August 2, 2024
If your business doesn’t already have a retirement plan, it might be a good time to take the plunge. Current retirement plan rules allow…
The pros and cons of turning your home into a rental
July 31, 2024
If you’re buying a new home, you may have thought about keeping your current home and renting it out. In March, average rents for one- and…
Why some businesses choose to execute a pivot strategy
July 29, 2024
When you encounter the word “pivot,” you may think of a politician changing course on a certain issue or perhaps a group of friends trying…
When businesses may want to take a contrary approach with income and deductions
July 26, 2024
Businesses usually want to delay recognition of taxable income into future years and accelerate deductions into the current year. But when…
Watch out for “income in respect of a decedent” issues when receiving an inheritance
July 24, 2024
Most people are genuinely appreciative of inheritances, and who wouldn’t enjoy some unexpected money? But in some cases, it may turn out to…
Health care self-insurance and stop-loss coverage: What business owners need to know
July 22, 2024
For businesses, cost-effectively sponsoring a health insurance plan for employees is an ongoing battle. In the broadest sense, you have two…