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Douglas Freeman

How a lockbox or other service can benefit accounts receivable

Leave a Comment / Accounts Receivable, Automnated Clearing House (ACH), Billing and Collections, Electronic Payments, Small Business, Small Business Owners, Small Business Tips /

For decades, businesses have used bank lockbox services to speed up collections and reduce administrative work involved in processing customer checks. Today, the basic idea remains the same, but modern lockbox services can automate your accounts receivable processes. Automated clearing house (ACH), credit card and instant-payment services can also provide efficient collections. So the question […]

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Tax essentials for sole proprietors

Leave a Comment / Federal Income Tax, Federal Taxes, Home Office Deduction, One, Big, Beautiful Bill Act, Qualified Business Income Deducton (QBI), Self Employment Tax, Simplified Employee Pension (SEP), Small Business, Small Business Owners, Small Business Tax Tips, Sole Proprietors, Tax Planning, Tax-Advantaged Retirement Plan /

Many small businesses start out as sole proprietorships. This structure is simple and inexpensive to establish and maintain — and it gives the owner direct access to profits without having to take formal distributions. But it also makes your taxes more complicated than when you were a W-2 employee. Here are some federal tax issues

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Professional valuations provide businesses with more than a number

Leave a Comment / Business Valuation, Intangible Assets, Small Business, Small Business Owners, Small Business Tips /

Are you selling your business, soliciting new investors, updating a buy-sell agreement, pursuing litigation or drafting an estate plan? An accurate business valuation prepared by a valuation professional is critical to the success of these and many other activities. Knowing some fundamentals about the process can help you understand your valuator’s conclusions, what drives business

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Could the New Markets Tax Credit benefit your business?

Leave a Comment / Small Business, Small Business Owners, Small Business Tax Tips, Small Business Tips, Tax Credits, The New MNarkets Tax Credit (NMTC) /

Businesses in economically distressed communities often have difficulty obtaining capital for expansion, equipment, facilities and other investments. The New Markets Tax Credit (NMTC) encourages private investment in these underserved areas by offering federal income tax credits to qualifying investors. This credit was previously scheduled to expire on December 31, 2025. However, the One Big Beautiful

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Be tax-smart with your mutual fund investments

Leave a Comment / (LTCG) Net Long-Term Capital Gain, Mutual Funds /

Mutual funds offer an easy way to invest in a diversified portfolio compared to buying individual stocks and bonds. But the tax treatment of mutual funds isn’t so simple. How are mutual funds taxed? If you sell appreciated mutual fund shares, the resulting profit will be taxable. If you’ve held the shares for one year

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The right financial guidance can help maximize your business’s potential

Leave a Comment / Accounts Receivable, Cash Flow, Financial Projections, Financial Statements, Small Business Owners, Small Business Tips /

Financial information is the foundation for every important business decision. Whether your goal is to improve cash flow, launch a new offering, hire additional workers or expand into a new market, accurate data enables you to make decisions confidently. An experienced advisor can help prepare this data and ensure your business is poised to capitalize

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How what you donate impacts your tax deductions

Leave a Comment / AGI (Adjustable Gross Income), Charitable Donation Deductions, Charitable Donations, Quid Pro Quo Contribution, Tangible Property Deductions /

Have you already made contributions to charity this year? Are you considering making more between now and year-end? If so, it’s important to be familiar with the tax rules for different types of donations so you can maximize your tax benefit — or at least avoid finding out at tax filing time that your charitable

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The new-and-improved credit for employer-provided child care

Leave a Comment / Child Tax Credit, Employer-Provided Child Care, Full Time Employees, Small Business, Small Business Owners, Small Business Tips /

Offering a broad menu of employee benefits can help your business attract and retain skilled workers. One benefit that’s popular among employees with families is employer-provided child care. Although this option hasn’t been financially feasible for many small businesses, recent tax law changes may give you a reason to reconsider opening (or upgrading) a child

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