No one should take his or her 401(k) plan for granted. Help your employees maintain their awareness of this important benefit.
Monthly Archives: February, 2019
Careful tax planning required for incentive stock options
February 27th, 2019 by Douglas Freeman
Posted in Incentive Stock Options (ISOs), Stocks, Uncategorized
Careful tax planning required for incentive stock options.
Don’t let scope creep ruin your next IT project
February 26th, 2019 by Douglas Freeman
Posted in Business Technology, IT Project
Tags: Budget for IT Improvements, Hardware, IT Upgrades, Software Solutions, Statement of Work
Starting an IT project? Beware of “scope creep.” This is when a project’s objective (or “scope”) gradually expands while the job is underway.
Beware the Ides of March — if you own a pass-through entity
February 25th, 2019 by Douglas Freeman
Posted in 2018 Tax Return, C Corporation, C Corporations, Federal Income Tax, Income Tax, Internal Revenue Service, Partnerships, Past-Through Entities, S Corporation, S Corporations, Tax, Tax Deadlines, Tax Deduction, Tax Planning
Tags: Extensions, March 15th deadline
Pass-through entity owners-The Ides of March, better known as March 15, is the federal income tax filing deadline for these entities.
The home office deduction: Actual expenses vs. the simplified method
February 21st, 2019 by Douglas Freeman
Posted in 2018 Tax Return, Actual Expenses Method, Business Income Tax, Deductable Expenses, Deductions, Depreciation, Home Office Deduction, Income Tax, Small Business, Tax, Tax Deduction
Business owners may be able to save tax with the home office deduction. But will you save more by claiming actual expenses or the simplified method?
Some of your deductions may be smaller (or nonexistent) when you file your 2018 tax return
February 20th, 2019 by Douglas Freeman
Posted in 2018 Tax Return, Business Income Tax, Deductable Expenses, Deductions, Income Tax, Individual Income Tax, Small Business, State Tax, Tax, Tax Cuts and Job Acts (TCJA), Tax Deduction
Tags: Home Equity Debt Interest Deduction, Itemized Deductions, Local Tax Deduction, Mortgage Deduction, Personal Casualty Deduction, Standard Deduction, State Tax Deduction, Theft loss Deduction
Lower tax rates might help reduce your 2018 tax bill, but new limits on many deductions could offset the benefits of lower rates.
Family businesses need succession plans, too
February 18th, 2019 by Douglas Freeman
Posted in Family Business, Succession Plans, Tax Planning
Tags: Communication, Estate Tax, Family, Heirs, Inheritance, Insurance
Family businesses often depend on their founder to maintain the company’s success. But eventually, that owner will have to depart the business.
Best practices when filing a business interruption claim
February 14th, 2019 by Douglas Freeman
Posted in Business Interruption Insurance, Small Business
Tags: Claims, Natural Disaster, Post disaster Business Records, Prediaster records, Receipts, Record Keeping
Buying business interruption insurance can be a wise move for many companies.
3 big TCJA changes affecting 2018 individual tax returns and beyond
February 13th, 2019 by Douglas Freeman
Posted in Deductions, Income Tax, Individual Income Tax, Internal Revenue Service, Itemized Deduction, Tax, Tax Cuts and Job Acts (TCJA), Tax Deduction, Tax Planning, Tax Savings
Tags: Child Tax Credit, Dependents, Personal Exemptions, Standard Deduction, tax-Saving Strategies, Taxable Income, Taxpayers
There are three major changes that will impact many individual taxpayers, beginning when they file their 2018 income tax returns.
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