Take a closer look at home office deductions

Working from home has its perks. Not only can you skip the commute, but you also might be eligible to deduct home office expenses on your…

Run your strategic-planning meetings like they really matter

Many businesses struggle to turn abstract strategic-planning ideas into concrete, actionable plans. One reason why is simple: ineffective…

The “nanny tax” must be paid for more than just nannies

You may have heard of the “nanny tax.” But even if you don’t employ a nanny, it may apply to you. Hiring a housekeeper, gardener or other…

Businesses can utilize the same information IRS auditors use to examine tax returns

The IRS uses Audit Techniques Guides (ATGs) to help IRS examiners get ready for audits. Your business can use the same guides to gain…

Summer: A good time to review your investments

You may have heard about a proposal in Washington to cut the taxes paid on investments by indexing capital gains to inflation. Under the…

It’s a good time to buy business equipment and other depreciable property

There’s good news about the Section 179 depreciation deduction for business property. The election has long provided a tax windfall to…

Is your accounting software living up to the hype?

Accounting software typically sells itself as much more than simple spreadsheet or ledger. The products tend to pride themselves on being…

M&A transactions: Avoid surprises from the IRS

If you’re considering buying or selling a business — or you’re in the process of a merger or acquisition — it’s important that both parties…

Grading the performance of your company’s retirement plan

Imagine giving your company’s retirement plan a report card. Would it earn straight A’s in preparing your participants for their golden…

You may have to pay tax on Social Security benefits

During your working days, you pay Social Security tax in the form of withholding from your salary or self-employment tax. And when you…

If your kids are off to day camp, you may be eligible for a tax break

Now that most schools are out for the summer, you might be sending your children to day camp. It’s often a significant expense. The good…

Which entity is most suitable for your new or existing business?

The Tax Cuts and Jobs Act (TCJA) has changed the landscape for business taxpayers. That’s because the law introduced a flat 21% federal…

Bartering: A taxable transaction even if your business exchanges no cash

Small businesses may find it beneficial to barter for goods and services instead of paying cash for them. If your business engages in…

Put a number on your midyear performance with the right KPIs

We’ve reached the middle of the calendar year. So how are things going for your business? Conversationally you might say, “Pretty good.”…

Is an HSA right for you?

To help defray health care costs, many people now contribute to, or are thinking about setting up, Health Savings Accounts (HSAs). With…

2019 Q3 tax calendar: Key deadlines for businesses and other employers

Here are some of the key tax-related deadlines affecting businesses and other employers during the third quarter of 2019. Keep in mind that…

Could you unearth hidden profits in your company?

Can your business become more profitable without venturing out of its comfort zone? Of course! However, adding new products or services may…

Donating your vehicle to charity may not be a taxwise decision

You’ve probably seen or heard ads urging you to donate your car to charity. “Make a difference and receive tax savings,” one organization…

Your succession plan may benefit from a separation of business and real estate

Like most businesses, yours probably has a variety of physical assets, such as production equipment, office furnishings and a plethora of…

Hiring this summer? You may qualify for a valuable tax credit

Is your business hiring this summer? If the employees come from certain “targeted groups,” you may be eligible for the Work Opportunity Tax…

Employers: Be aware (or beware) of a harsh payroll tax penalty

If federal income tax and employment taxes (including Social Security) are withheld from employees’ paychecks and not handed over to the…

Thinking about moving to another state in retirement? Don’t forget about taxes

When you retire, you may consider moving to another state — say, for the weather or to be closer to your loved ones. Don’t forget to factor…

Targeting and converting your company’s sales prospects

Companies tend to spend considerable time and resources training and upskilling their sales staff on how to handle existing customers. And…

Tax-smart domestic travel: Combining business with pleasure

Summer is just around the corner, so you might be thinking about getting some vacation time. If you’re self-employed or a business owner,…