As a business owner, you’ll likely need to have your company appraised at some point. An appraisal is essential in the event of a business sale, merger or acquisition. It’s also important when creating or updating a buy-sell agreement or doing estate planning. You can even use a business valuation to help kickstart or support […]
5 valuation terms that every business owner should know Read More »
If you’re thinking about setting up a retirement plan for yourself and your employees, but you’re worried about the financial commitment and administrative burdens involved, there are a couple of options to consider. Let’s take a look at a “simplified employee pension” (SEP) or a “savings incentive match plan for employees” (SIMPLE). SEPs are intended
Retirement saving options for your small business: Keep it simple Read More »
Everyone is on social media these days, including businesses and their customers. This creates a natural — or shall we say virtual — nexus for companies to field questions, comments and complaints from buyers or those interested in their products or services. In other words, whether companies realize it or not, customer service is happening
It’s happening: Using social media for customer service Read More »
If you’ve been following the news lately, you’ve surely heard or read about the sudden rise in concern about the banking industry. Although the story is still unfolding, an important lesson for business owners is already clear: You’ve got to be constantly on guard against the many risks to your company’s financial solvency. One way
How businesses can use stress testing to improve risk management Read More »
If you’re starting a business with some partners and wondering what type of entity to form, an S corporation may be the most suitable form of business for your new venture. Here are some of the reasons why. A big benefit of an S corporation over a partnership is that as S corporation shareholders, you
Choosing an entity for your business? How about an S corporation? Read More »
Recently, the IRS announced 2024 indexing adjustments to the applicable dollar amount used to calculate employer-shared responsibility penalties under the Affordable Care Act (ACA). Although next year might seem a long way off, it’s best to get an early start on determining whether your business is an applicable large employer (ALE) under the ACA. If
ACA penalties will rise in 2024 Read More »
2023 Q2 tax calendar: Key deadlines for businesses and employers C Here are some of the key tax-related deadlines that apply to businesses and other employers during the second quarter of 2023. 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
2023 Q2 tax calendar: Key deadlines for businesses and employers Read More »
If you were told someone earns more than $200,000 annually, you might assume the person is a salaried employee who’s ineligible for overtime pay. However, as demonstrated in the recent U.S. Supreme Court case of Helix Energy Solutions Group, Inc. v. Hewitt, this isn’t always a safe assumption. The FLSA rules. Under the Fair Labor
Supreme Court: Overtime rules still apply to highly compensated employees Read More »
You generally must pay federal tax on all income you receive but there are some exceptions when you can exclude it. For example, compensatory awards and judgments for “personal physical injuries or physical sickness” are free from federal income tax under the tax code. This includes amounts received in a lawsuit or a settlement and
Awarded money in a lawsuit or settlement? It’s only tax-free in certain circumstances Read More »
Most companies today have some sort of presence on social media as part of their marketing efforts. If you’ve spent any time online as a business owner, you’d probably agree that building a following and getting meaningful reactions to your posts isn’t easy. One way that some companies rise above the din is to not
Influencer marketing could help your business (or not) Read More »