For the love of your business

Articles to LIFT Your Life and Business

Overcoming Small Business Challenges through Operational Strategies

As with so many things in life, some of the same qualities that help small businesses succeed, can also lead to their demise. Fortunately, much of that risk can be lessened through operational excellence. For example, the owners and managers of small businesses often know each other before they go into business together. Sometimes, they’re […]

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Ways to Manage Increasing Healthcare Costs for Small Businesses

The good news about healthcare costs in the United States is that they have decreased from 6-7% per year to just around 4%. The bad news is that health care costs continue to rise faster than workers’ incomes. For small businesses, this is a recipe for disaster. They are caught between increased costs for employer-sponsored […]

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Partnerships and LLCs, Take Heed of New Tax Law

Beginning with tax year 2018, all partnerships and limited liability companies (LLCs) taxed as partnerships will be affected by a new federal tax audit law. In 2015, the Bipartisan Budget Act repealed the earlier audit system, known as TEFRA, and replaced it with entirely new taxation audit provisions. It is important for those affected by […]

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Important Deadline March 15 re Your Business Entity That Could Save Thousands on Next Year’s Taxes

If you have a newly incorporated LLC or Corporation, you only have until March 15 to elect S-Corporation status for the 2016 tax year, using IRS Form 2553. This is important because there could be significant tax consequences to you, if you do not elect for S-Corporation status. As the owner of an LLC interest, […]

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How Do I Keep Track of All These Tax Deadlines?

If you own a business, particularly if it is a new business, you are probably concerned about how to track tax deadlines.  Fortunately, the Internal Revenue Service has developed several methods to help with this very problem.  First, though, you must know which taxes you are required to pay. Which Taxes? The tax and information […]

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Benefits of a Home-Based Business

With the advanced connectivity options available through the internet and associated devices and applications, more and more people are earning a living by working from home. Many of us, however, may be so ingrained in the notion of being employed and reporting to work at a fixed location that we may not be able to […]

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Taxes for the Self-Employed

Going into business for yourself means learning about a lot of things, and not all of them are necessarily fun.  Take taxes, for example.  Unless you’re an accountant, dealing with the tax issues that come with your business is probably not your favorite task.  But once you get the hang of it, it really isn’t […]

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How to Save Big Money on Your Taxes This Year – Part 3

Welcome back to our third and final article in 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. In part 1,we discussed the first step in saving big on taxes: strategize with your tax […]

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How to Save Big Money on Your Taxes This Year – Part 2

Welcome 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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How to Save Big Money on Your Taxes This Year

It can be shocking to realize that our biggest personal and business expense, bar none, is taxes.  The good news is that just a little time and effort focused on strategically reducing your taxes can pay big dividends. The first thing to know about taxes is that it is not illegal to strategize to save […]

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Ridesharing: Who Cares Whether Drivers Are Employees or Independent Contractors?

Ridesharing companies like Uber and Lyft have been front and center in recent media stories and court decisions. All across the country, drivers have brought lawsuits arguing that they are employees of these companies, rather than independent contractors. If you own a business and think these stories have no relevance to you, think again. What […]

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