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 [...]
Business owners are constantly bombarded with terminology and buzzwords. Although you probably feel a need to keep up with the latest trends, you also may find that many of these ideas induce more anxiety than relief. One example is change management.This term is used to describe the philosophies and processes an organization uses to manage change. [...]
When you start a new job you are asked to fill out a few forms. You have an I-9, W-4 (State and Federal), and possible health insurance forms. The W-4 is one of the most confusing of them all. It is a document that the Internal Revenue Service (IRS) has every employee fill out. It tells [...]
Rising insurance costs are a concern for every business owner. However, protecting your company through the purchase of various forms of insurance is a risk-management necessity. But just because you must buy coverage doesn’t mean you can’t manage the cost of doing so.Obviously, the safer your workplace, the less likely you’ll incur costly claims and high [...]
You’ve spent years building your company and now are ready to move on to something else, whether launching a new business, taking advantage of another career opportunity, or retiring. Whatever your plans, you want to get the return from your business that you’ve earned from all of the time and money you’ve put into it.That means [...]
