Inventory management systems: What’s right for your business?

Thursday, April 04, 2024
If your business has significant inventory on its balance sheet, it can be costly. The carrying costs of inventory include warehousing, salaries, insurance, taxes, and transportation, as well as depreciation...... Read More

Gave to charity in 2023? Check for substantiation

Tuesday, April 02, 2024
Did you donate to charity last year? Acknowledgment letters from the charities you gave to may have already shown up in your mailbox. But if you don’t receive such a...... Read More

Tax-favored Qualified Small Business Corporation status could help you thrive

Monday, April 01, 2024
Operating your small business as a Qualified Small Business Corporation (QSBC) could be a tax-wise idea.Tax-free treatment for eligible stock gainsQSBCs are the same as garden-variety C corporations for tax...... Read More

Solid financial reporting can help attract financing

Thursday, March 28, 2024
Financial reporting plays a key role when a business needs funds for continued operations and strategic investment opportunities. Lenders and investors will generally want to review your company’s financial statements...... Read More

The “nanny tax” must be paid for nannies and other household workers

Tuesday, March 26, 2024
You may have heard of the “nanny tax.” But if you don’t employ a nanny, you may think it doesn’t apply to you. Check again. Hiring a housekeeper, gardener or...... Read More

Does your business have employees who get tips? You may qualify for a tax credit

Monday, March 25, 2024
If you’re an employer with a business where tipping is routine when providing food and beverages, you may qualify for a federal tax credit involving the Social Security and Medicare...... Read More

Best Practices for M&A Due Diligence

Thursday, March 21, 2024
Engaging in a merger or acquisition (M&A) can help your business grow, but it also can be risky. Buyers must understand the strengths and weaknesses of their intended partners or...... Read More

The kiddie tax could affect your children until they’re young adults

Tuesday, March 19, 2024
The so-called “kiddie tax” can cause some of a child’s unearned income to be taxed at the parent’s higher marginal federal income tax rates instead of at the usually much...... Read More

Defer a current tax bill with a like-kind exchange

Monday, March 18, 2024
If you’re interested in selling commercial or investment real estate that has appreciated significantly, one way to defer a tax bill on the gain is with a Section 1031 “like-kind”...... Read More

Financial Data Transparency Act

Friday, March 15, 2024
As 2022 drew to a close, a surprising turn of events in municipal finance occurred: A federal bill to enhance financial data transparency for state and local governments unexpectedly became...... Read More