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So far abcpaadmin has created 51 blog entries.

Family Businesses Need Succession Plans, Too

By |2018-12-05T12:08:49-06:00December 5th, 2018|Categories: Business|

Those who run family-owned businesses often underestimate the need for a succession plan. 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 [...]

Devote some Time to Internal Leadership Development

By |2018-12-05T12:08:55-06:00November 28th, 2018|Categories: Business|

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 [...]

When Holiday Gifts and Parties are Deductible or Taxable

By |2018-11-26T15:56:43-06:00November 26th, 2018|Categories: Business, Tax|

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 [...]

Estimates vs. Actuals: Was Your 2018 Budget Reasonable?

By |2018-11-26T15:56:38-06:00November 21st, 2018|Categories: Accounting|

As the year winds down, business owners can be thankful for the gift of perspective (among other things, we hope). Assuming you created a budget for the calendar year, you should now be able to accurately assess that budget by comparing its estimates to actual results. Your objective is to determine whether your budget was reasonable, [...]

Tax Reform Expands Availability of Cash Accounting

By |2018-11-19T14:23:49-06:00November 19th, 2018|Categories: Accounting, Tax|

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 method would be advantageous and if so, consider switching [...]

3 Ways to get More for Your Marketing Dollars

By |2018-11-14T09:19:23-06:00November 14th, 2018|Categories: Business|

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 [...]

I Can’t Afford to Hire a CPA Firm. Now What?

By |2018-12-12T08:25:19-06:00November 8th, 2018|Categories: Accounting, Business|

When starting a new business, so many new business owners express that they have limited funds and limited time when it comes to their bookkeeping, HR, and payroll tasks. Business owners and Entrepreneurs wear so many different hats: marketing, producing, selling, and managing. You’re already at 12 hour days and then you have to find time [...]

Taking the Hybrid Approach to Cloud Computing

By |2018-11-12T10:43:27-06:00November 7th, 2018|Categories: Accounting|

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 [...]

The Tax Consequences of the Cancellation of Debt

By |2018-12-12T08:26:39-06:00November 1st, 2018|Categories: Tax|

When debt is forgiven, it is not always given away tax-free. Depending on the situation, you could find yourself having to pay tax on the canceled 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 [...]

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