2018 Q4 tax calendar: Key deadlines for businesses and other employers
September 10, 2018
Here are some of the key tax-related deadlines affecting businesses and other employers during the fourth quarter of 2018. Keep in mind…
Prepare for valuation issues in your buy-sell agreement
September 7, 2018
Every business with more than one owner needs a buy-sell agreement to handle both expected and unexpected ownership changes. When creating…
HSA + HDHP can be a winning health benefits formula
September 5, 2018
If you’ve done any research into employee benefits for your business recently, you may have come across a bit of alphabet soup in the form…
Keep it SIMPLE: A tax-advantaged retirement plan solution for small businesses
September 5, 2018
If your small business doesn’t offer its employees a retirement plan, you may want to consider a SIMPLE IRA. Offering a retirement plan can…
How to reduce the tax risk of using independent contractors
September 4, 2018
Classifying a worker as an independent contractor frees a business from payroll tax liability and allows it to forgo providing overtime…
Back-to-school time means a tax break for teachers
August 29, 2018
When teachers are setting up their classrooms for the new school year, it’s common for them to pay for a portion of their classroom…
Business tips for back-to-school time
August 23, 2018
Late summer and early fall, when so many families have members returning to educational facilities of all shapes and sizes, is also a good…
Choosing the right accounting method for tax purposes
August 15, 2018
The Tax Cuts and Jobs Act (TCJA) liberalized the eligibility rules for using the cash method of accounting, making this method — which is…
The TCJA prohibits undoing 2018 Roth IRA conversions, but 2017 conversions are still eligible
August 8, 2018
Converting a traditional IRA to a Roth IRA can provide tax-free growth and tax-free withdrawals in retirement. But what if you convert your…
Do you still need to worry about the AMT?
August 1, 2018
There was talk of repealing the individual alternative minimum tax (AMT) as part of last year’s tax reform legislation. A repeal wasn’t…
Business deductions for meal, vehicle and travel expenses: Document, document, document
July 23, 2018
Meal, vehicle and travel expenses are common deductions for businesses. But if you don’t properly document these expenses, you could find…
Close-up on the new QBI deduction’s wage limit
July 16, 2018
The Tax Cuts and Jobs Act (TCJA) provides a valuable new tax break to noncorporate owners of pass-through entities: a deduction for a…
3 keys to a successful accounting system upgrade
July 13, 2018
Technology is tricky. Much of today’s software is engineered so well that it will perform adequately for years. But new and better features…
How to avoid getting hit with payroll tax penalties
July 11, 2018
For small businesses, managing payroll can be one of the most arduous tasks. Adding to the burden earlier this year was adjusting income…
Is your inventory getting the better of you?
July 9, 2018
On one level, every company’s inventory is a carefully curated collection of inanimate objects ready for sale. But, on another, it can be a…
Choosing the best business entity structure post-TCJA
June 27, 2018
For tax years beginning in 2018 and beyond, the Tax Cuts and Jobs Act (TCJA) created a flat 21% federal income tax rate for C corporations.…
TCJA Tax Strategies 1: The Qualified Business Income Deduction and Rental Real Estate
June 19, 2018
In case you haven’t been paying attention to last year's tax reform, now is the time to take note. The Tax Cuts and Jobs Act (TCJA) passed…
2018 Q3 tax calendar: Key deadlines for businesses and other employers
June 19, 2018
Here are some of the key tax-related deadlines affecting businesses and other employers during the second quarter of 2018. Keep in mind…
A midyear review should go beyond financials
June 15, 2018
Every year is a journey for a business. You begin with a set of objectives for the months ahead, probably encounter a few bumps along the…
The tax impact of the TCJA on estate planning
June 14, 2018
The massive changes the Tax Cuts and Jobs Act (TCJA) made to income taxes have garnered the most attention. But the new law also made major…
2 tax law changes that may affect your business’s 401(k) plan
June 13, 2018
When you think about recent tax law changes and your business, you’re probably thinking about the new 20% pass-through deduction for…
Could a long-term deal ease your succession planning woes?
June 8, 2018
Some business owners — particularly those who founded their companies — may find it hard to give up control to a successor. Maybe you just…
Factor in state and local taxes when deciding where to live in retirement
June 7, 2018
Many Americans relocate to another state when they retire. If you’re thinking about such a move, state and local taxes should factor into…