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 report the transaction to the IRS in the same way. Otherwise, you may increase your chances of being audited. If a sale involves business assets (as opposed to stock or […]
M&A transactions: Avoid surprises from the IRS Read More »
“Gamification.” It’s perhaps an odd word, but it’s a cool concept that’s become popular among many types of businesses. In its most general sense, the term refers to integrating characteristics of game-playing into business-related tasks to excite and engage the people involved. Might it have a place in your company? Internal focus. Sometimes gamification refers
Odd word, cool concept: Gamification for businesses Read More »
Small businesses may find it beneficial to barter for goods and services instead of paying cash for them. If your business engages in bartering, be aware that the fair market value of goods that you receive in bartering is taxable income. And if you exchange services with another business, the transaction results in taxable income
Bartering: A taxable transaction even if your business exchanges no cash Read More »
During your working days, you pay Social Security tax in the form of withholding from your salary or self-employment tax. And when you start receiving Social Security benefits, you may be surprised to learn that some of the payments may be taxed. If you’re getting close to retirement age, you may be wondering if your
You may have to pay tax on Social Security benefits Read More »
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 news: You might be eligible for a tax break for the cost. The value of a credit. Day camp is a qualified expense under the child and dependent care credit,
If your kids are off to day camp, you may be eligible for a tax break Read More »
The Tax Cuts and Jobs Act (TCJA) has changed the landscape for business taxpayers. That’s because the law introduced a flat 21% federal income tax rate for C corporations. Under prior law, profitable C corporations paid up to 35%. The TCJA also cut individual income tax rates, which apply to sole proprietorships and pass-through entities,
Which entity is most suitable for your new or existing business? Read More »
We’ve reached the middle of the calendar year. So how are things going for your business? Conversationally you might say, “Pretty good.” But, analytically, can you put a number on how well you’re doing — or several numbers for that matter? You can if you choose and calculate the right key performance indicators (KPIs). 4
Put a number on your midyear performance with the right KPIs Read More »
To help defray health care costs, many people now contribute to, or are thinking about setting up, Health Savings Accounts (HSAs). With these accounts, individuals can pay for certain medical expenses on a tax-advantaged basis. The basics With HSAs, you take more responsibility for your health care costs. If you’re covered by a qualified high-deductible
Is an HSA right for you? Read More »
Here are some of the key tax-related deadlines affecting businesses and other employers during the third quarter of 2019. Keep in mind that this list isn’t all-inclusive, so there may be additional deadlines that apply to you. Contact us to ensure you’re meeting all applicable deadlines and to learn more about the filing requirements. July
2019 Q3 tax calendar: Key deadlines for businesses and other employers Read More »
Can your business become more profitable without venturing out of its comfort zone? Of course! However, adding new products or services may not be the best way for your business — or any company — to boost profits. Bottom-line potential may lie undiscovered in your existing operations. How can you find these “hidden” profits? Dig
Could you unearth hidden profits in your company? Read More »