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 [...]
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 [...]
1.     RecipientsA memo can be addressed in three different situations: an informal memo for internal communication, a formal memo to the department unit, and an external memo to clients or vendors. The recipients of a memo should be clear, as it decides the wording to be used to avoid confusion. When you write a memo, clarity [...]
As we approach the end of the year, it’s a good idea to review your business’s expenses for deductibility. At the same time, consider whether your business would benefit from accelerating certain expenses into this year.Be sure to evaluate the impact of the Tax Cuts and Jobs Act (TCJA), which reduces or eliminates many deductions. In [...]
What are the chances that your business will experience an IRS Audit? Well, if you own a business with Schedule C gross receipt over $100,000, the odds are about 2.3%. Audit rates for S corporations and partnership LLCs are only about 0.4%. According to the Wall Street Journal, Self-employed entrepreneurs are 10 times more likely [...]
Four ancient pillars with blue sky background. Is your sales process getting off-balance? Sometimes it can be hard to tell. Fluctuations in the economy, changes in customer interest, and dips in demand may cause slowdowns that are beyond your control. But if the numbers keep dropping and you’re not sure why you may [...]
In today’s tightening job market, to attract and retain the best employees, small businesses need to offer not only competitive pay, but also appealing fringe benefits. Benefits that are tax-free are especially attractive to employees. Let’s take a quick look at some popular options.InsuranceBusinesses can provide their employees with various types of insurance on a tax-free [...]
When considering charity scams, with the holiday season being just around the corner and all the disasters that have occurred this past year, it is hard to know which charities are the right ones to give your donation to. Here are some tips that can help you tell the difference between scams and real donation [...]
Businesses that acquire, construct, or substantially improve a building — or did so in previous years — should consider a cost segregation study. It may allow you to accelerate depreciation deductions, thus reducing taxes and boosting cash flow. And the potential benefits are now even greater due to enhancements to certain depreciation-related breaks under the Tax [...]
