Sadly, many businesses have been forced to shut down recently due to the pandemic and the economy. If this is your situation, we can assist you, including taking care of the various tax responsibilities that must be met. Of course, a business must file a final income tax return and some other related forms for […]
The tax obligations if your business closes its doors Read More »
Every business wants to engage in strategic planning that will better position the company to sell more to current customers — and perhaps expand into new markets. Yet the term “strategic planning” is so broad. It’s easy to get overwhelmed by all the possible directions you could go in and have a hard time choosing
Simple ways to make strategic planning a reality Read More »
Businesses with multiple owners generally benefit from a variety of viewpoints, diverse experiences, and strategic areas of specialization. However, there’s a major risk: the company can be thrown into tumult if one of the owners decides or is compelled by circumstances, to leave. A logical and usually effective solution is to create and implement a
Dodge the tumult with a buy-sell agreement Read More »
Here’s an interesting option if your small company or start-up business is planning to claim the research tax credit. Subject to limits, you can elect to apply all or some of any research tax credits that you earn against your payroll taxes instead of your income tax. This payroll tax election may influence some businesses
Help when needed: Apply the research credit against payroll taxes Read More »
You can’t stop it; you can only hope to use it to your best business advantage. That’s right, summer is on the way and, with it, a variety of seasonal marketing opportunities for small to midsize companies. Here are three ideas to consider. 1. Support summer camps and local sports. Soon, millions of young people
3 summertime marketing ideas for 2022 Read More »
Keeping up with employment regulations and health care benefits can be a struggle for many small to midsize businesses. One potential solution is engaging a professional employer organization (PEO). PEOs employ experts who understand the minutiae of many HR functions. Moreover, these firms can handle difficult, recurring tasks such as managing employment taxes and administering
Could your business benefit from a PEO? Read More »
While many economic indicators remain strong, the U.S. economy is still giving business owners plenty to think about. The nation’s gross domestic product unexpectedly contracted in the first quarter of 2022. Rising inflation is on everyone’s mind. And global supply chain issues persist, spurred on by events such as the COVID-19 lockdowns in China and
Tighten up billing and collections to mitigate economic uncertainties Read More »
Adding a new partner in a partnership has several financial and legal implications. Let’s say you and your partners are planning to admit a new partner. The new partner will acquire a one-third interest in the partnership by making a cash contribution to it. Let’s further assume that your bases in your partnership interests are
Tax considerations when adding a new partner at your business Read More »
Spring has sprung — and summer isn’t far off. If your business typically hires minors for summer jobs, now’s a good time to brush up on child labor laws. In News Release No. 22-546-DEN, the U.S. Department of Labor’s Wage and Hour Division (WHD) recently announced that it’s stepping up efforts to identify child labor
Offering summer job opportunities? Double-check child labor laws Read More »
Typically, businesses want to delay recognition of taxable income into future years and accelerate deductions into the current year. But when is it prudent to do the opposite? And why would you want to? One reason might be tax law changes that raise tax rates. There have been discussions in Washington about raising the corporate