The dawning of 2019 means the 2018 income tax filing season will soon be upon us. After year end, it’s generally too late to take action to reduce 2018 taxes. Small-business owners may, therefore, want to shift their focus to assessing whether they’ll likely owe taxes or get a refund when they file their returns [...]
While Microsoft Office is a standard piece of software that many employees need to excel at, a resume sets you apart from everyone else. A common theme with college graduate resumes is that most applicants list “proficient in Microsoft Word, Excel, and PowerPoint.” Instead of the generic lingo, employers like to see specifics of what [...]
Tax planning is a juggling act for business owners, especially when considering an exit strategy. You must keep your eye on your company’s income and expenses and applicable tax breaks (especially if you own a pass-through entity). But you also must remain focused on your own financial goals and future. For example, you need to [...]
The Tax Cuts and Jobs Act allows a general business credit to certain employers for paid family and medical leave. This credit can be used to reduce a taxpayer’s alternative minimum tax (AMT). For tax years 2018 and 2019, an eligible employer with an allowed written policy regarding family and medical leave can deduct between [...]
A technician at a mobility equipment supplier was servicing the motorized wheelchair of a long-time customer and noticed it was a brand-new model. “Where did you buy the chair?” he asked the customer. “At the healthcare supply store on the other side of town,” the customer replied. The technician paused and then asked, “Well, why [...]
Gambling taxes can be a complicated subject to figure out, but they are extremely important. The thrill of earning an easy dollar has more and more people interested in gambling. Whether it be sports betting, casino trips, lottery tickets, or even a friendly poker game, chances are that most of us have placed some type [...]
Turn on your computer or mobile device, scroll through Facebook or Twitter, or skim a business-oriented website, and you’ll likely come across the term “emerging technologies.” It has become so ubiquitous that you might be tempted to ignore it and move on to something else. That would be a mistake. In today’s competitive business landscape, [...]
There are several different types of interest that you can deduct on your tax return. You can deduct interest that is an ordinary and necessary expense related to your trade or business; interest on the debt-financed acquisition of ownership in a partnership or S-corporation; interest related to your personal investments; interest on student loans; and interest [...]
Those who run family-owned businesses often underestimate the need for succession plans. After all, they say, we’re a family business — there will always be a family member here to keep the company going, and no one will stand in the way.Not necessarily. In one all-too-common scenario, two of the owner’s children inherit the business and, [...]
Many factors go into the success of a company. You’ve got to offer high-quality products or services, provide outstanding customer service, and manage your inventory or supply chain. But there’s at least one other success factor that many business owners often overlook: internal leadership training and development.Even if all your executive and management positions are filled [...]
