For the love of your business
For the love of your business
Audits can happen to any business. Small businesses are no exception. The IRS can conduct an audit on your business when your tax filing contains questionable deductions, your business is of particular interest to the IRS or by random selection. Contrary to popular belief, being audited doesn’t necessarily mean you did anything wrong. And for […]
Read MoreIf you work from home, you may be eligible for tax deductions on part of the rent or mortgage payments you make, but you may be afraid this puts you at risk of tax audit. And, rightly so. Calculating your home office deduction properly can minimize your taxes and keep you out of risk.
Read MoreIn December 2016, former President Obama signed an important health care act that will help alleviate the burden of employee health insurance on small businesses. The 21st Century Cures Act will allow, among other things, small businesses to reimburse their employees for individual health insurance if they do not offer a group plan. For small […]
Read MoreIf you get paid for a service, collecting payment is the lifeblood of your company. And, yet, if you are like most people, you’ve made it an afterthought. For example, I recently got a request from a client I’ve worked with a few times before to review her client agreement. Upon doing so, what I […]
Read MoreWhile tax day here in the United States is not until April 15, if you own a business and you intend to follow the rules, you’ve already started scrambling. 1099s were due to your independent contractors February 1, and if you are filing an S or C-Corp tax return, it’s due March 15, and then […]
Read MoreAlthough often perceived as a worst case scenario, bankruptcy can be an appropriate way for small businesses to recover from unmanageable debt by reorganization, reducing personal liability or liquidating business assets. Sometimes small businesses (or their owners) must turn to bankruptcy when cash flow slows or business expenses cannot be met. There are three types […]
Read MoreUp until now, you alone have been running your small business. Now you need help. The moment when a small business owner decides to hire his or her first employee is one of triumph. Conversely, knowing how to start the hiring process can be a moment of confusion. If you’re ready to hire your first […]
Read MoreMillennials are taking their places at office desks around the nation. This burgeoning generation is just starting out,which means changes for family businesses with millennial family members who stand to inherit the family business. Of course, this scenario raises certain concerns for baby-boomer business owners as they look to the next generation of workers. According […]
Read MoreBuying an existing business is a great way to hit the ground running in the world of entrepreneurship. Because an existing business already has a legal structure, employees, a customer base, and is making a profit, you get to skip over one of the most challenging aspects of owning a business – starting it. But […]
Read MoreWelcome back to the final article in our 3 part series on how you can save big money on this year’s taxes. Just a little time and effort focused on strategically reducing your tax burden can pay big dividends. In part 1, we discussed the first step in saving big on taxes: Strategize with your […]
Read MoreWelcome back to our series on how you can save big money on your taxes this year. Just a little time and effort focused on strategically reducing your taxes can pay big dividends. Last week, we discussed the first step in saving big on taxes: strategize with your tax advisor at key points during the […]
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