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 [...]
The holiday season is a great time for businesses to show their appreciation for employees and customers by giving them gifts or hosting holiday parties. Before you begin shopping or sending out invitations, though, it’s a good idea to find out whether the expense is tax deductible and whether it’s taxable to the recipient. Here’s a [...]
Under the Tax Cuts and Jobs Act (TCJA), many more businesses are now eligible to use the cash method of accounting for federal tax purposes. The cash method offers greater tax-planning flexibility, allowing some businesses to defer taxable income. Newly eligible businesses should determine whether the cash accounting method would be advantageous and if so, consider [...]
A strong economy leads some company owners to cut back on marketing. Why spend the money if the business is so good? Others see it differently — a robust economy means more sales opportunities, so pouring dollars into marketing is the way to go.The right approach for your company depends on many factors, but one thing [...]
When starting a new business, many new business owners express that they have limited funds and time for their bookkeeping, HR, and payroll tasks, alongside many of the tasks that a skilled CPA firm can perform. Business owners and Entrepreneurs wear so many different hats: marketing, producing, selling, and managing. You’re already at 12-hour days, and [...]
For several years now, cloud computing has been touted as the perfect way for companies large and small to meet their software and data storage needs. But, when it comes to choosing and deploying a solution, one size doesn’t fit all.Many businesses have found it difficult to fully commit to the cloud for a variety of [...]
When debt is forgiven, it is not always given away tax-free. Depending on the situation, you could have to pay tax on the cancellation of debt. Having a new debt created to the IRS just as you are being saved from the crushing debt other creditors is less than ideal. Fortunately, there are situations where the [...]
