Business TaxesBusinessCOVID-19
Don’t forget to take required minimum distributions this year
January 28, 2021
If you have a traditional IRA or tax-deferred retirement plan account, you probably know that you must take required minimum distributions…
Business TaxesBusinessCOVID-19
PPP Second Draw – Program Analysis, Eligibility, and Instructions
January 19, 2021
Summary: On December 27, 2020, President Trump signed the Consolidated Appropriations Act, 2021 (CAA, 2021) into law. The CAA includes…
The Balanced Scorecard approach to strategic planning
January 12, 2021
In the early 1990s, the Balanced Scorecard approach to strategic planning was developed to enable business owners to better organize and…
The right entity choice: Should you convert from a C to an S corporation?
January 8, 2021
The best choice of entity can affect your business in several ways, including the amount of your tax bill. In some cases, businesses decide…
Need another PPP loan for your small business? Here are the new rules.
January 7, 2021
Need another PPP loan for your small business? Here are the new rules. Congress recently passed, and President Trump signed, a new law…
Business TaxesBusinessCOVID-19
What’s better than PPP? PPP + ERC! – Expansion of the employer retention credit under new law
January 6, 2021
What’s better than PPP? PPP + ERC! – Expansion of the employer retention credit under new law The CARES Act supports certain employers that…
Prevent and detect insider cyberattacks
January 4, 2021
In one recent cybercrime scheme, a mortgage company employee accessed his employer’s records without authorization, then used stolen…
Your taxpayer filing status: You may be eligible to use more than one
December 30, 2020
When it comes to taxes, December 31 is more than just New Year’s Eve. That date will affect the filing status box that will be checked on…
2020 Tax Planning
November 20, 2020
Now, as year-end approaches, is a good time to think about planning moves that may help lower your tax bill for this year and possibly…
Putting the finishing touches on next year’s budget
November 20, 2020
By now, some businesses have completed their 2021 budgets while others are still crunching numbers and scrutinizing line items. As you put…
Taking distributions from a traditional IRA
November 19, 2020
Although planning is needed to help build the biggest possible nest egg in your traditional IRA (including a SEP-IRA and SIMPLE-IRA),……
Health Savings Accounts for your small business
November 16, 2020
Small business owners are well aware of the increasing cost of employee health care benefits. As a result, your business may be interested…
How Series EE savings bonds are taxed
November 10, 2020
Many people have Series EE savings bonds that were purchased many years ago. Perhaps they were given to your children as gifts or maybe…
Do you want to withdraw cash from your closely held corporation at a low tax cost?
November 9, 2020
Owners of closely held corporations are often interested in easily withdrawing money from their businesses at the lowest possible tax…
Should you go phishing with your employees?
November 6, 2020
Every business owner is aware of the threat posed by cybercriminals. If a hacker were to gain access to the sensitive data about your…
Disability income: How is it taxed?
November 3, 2020
Many Americans receive disability income. You may wonder if — and how — it’s taxed. As is often the case with tax questions, the answer is…
Tax responsibilities if your business is closing amid the pandemic
November 2, 2020
Unfortunately, the COVID-19 pandemic has forced many businesses to shut down. If this is your situation, we’re here to assist you in any…
Now more than ever, carefully track payroll records
October 28, 2020
The subject of payroll has been top-of-mind for business owners this year. The COVID-19 pandemic triggered economic changes that caused…
Divorcing couples should understand these 4 tax issues
October 28, 2020
When a couple is going through a divorce, taxes are probably not foremost in their minds. But without proper planning and advice, some…
New business? It’s a good time to start a retirement plan
October 27, 2020
If you recently launched a business, you may want to set up a tax-favored retirement plan for yourself and your employees. There are…
Inventory management is especially important this year
October 27, 2020
As year-end draws near, many businesses will be not only be generating their fourth quarter financial statements, but also looking back……
Reviewing your disaster plan in a tumultuous year
October 26, 2020
It’s been a year like no other. The sudden impact of the COVID-19 pandemic in March forced every business owner — ready or not — to…
What tax records can you throw away?
October 26, 2020
October 15 was the deadline for individual taxpayers who extended their 2019 tax returns. (The original April 15 filing deadline was…
Understanding the passive activity loss rules
October 23, 2020
Are you wondering if the passive activity loss rules affect business ventures you’re engaged in — or might engage in? If the ventures…