When selling property used in your trade or business, it's crucial to grasp the tax implications. Numerous intricate rules may apply. For this discussion, let's focus on scenarios involving land...... Read More
Every business must establish a philosophy, strategy, and specific policies regarding compensation. However, family businesses encounter unique challenges, particularly because they employ both family members and non-family staff.If your company...... Read More
Non-profit organizations (NPOs) face increasing scrutiny regarding their financial statements from various stakeholders, including board members, donors, state charity officials, and legislators. This heightened attention puts pressure on management, the...... Read More
The IRS has announced the reopening of its Employee Retention Credit (ERC) Voluntary Disclosure Program (VDP), offering businesses a unique opportunity to correct incorrect ERC claims. This program, running through...... Read More
The current estate tax exemption amount ($13.61 million in 2024) has led many people to feel they no longer need to be concerned about federal estate tax. Before 2011, a...... Read More
If you own a closely held corporation, you have the option to borrow funds from your business at rates lower than those offered by banks. However, it's crucial to mitigate...... Read More
From the moment they start operating, business owners are advised to closely monitor cash flow. This advice is crucial because even businesses with strong sales can face significant challenges if...... Read More
When you hear "audit," you might think of financial reporting or the IRS. However, auditing warehouse operations can also benefit businesses like manufacturers, distributors, and retailers. Employee inefficiencies, oversized packages,...... Read More
If you're a charitable person required to take required minimum distributions (RMDs) from a traditional IRA, consider a tax-saving strategy: making a qualified charitable distribution (QCD).How it worksTo reap the...... Read More
You may consider hiring your child to work at your company. Apart from providing your son or daughter with valuable business experience, both of you could benefit from certain tax...... Read More
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