A Refresher on Major Tax Law Changes for Small-Business Owners
The dawning of 2019 means the 2018 income tax filing season will soon be upon us. After year end, it’s generally too late to take action to reduce 2018 taxes.
Want to Motivate Employees? Get Back to Basics
Motivation. It’s a relatively simple word, but encouraging it among your employees can be a challenge. Maybe that’s because, fundamentally, enthusiasm must come from within. It’s not something you can implant in someone externally.
Business Owners: An Exit Strategy Should be Part of Your Tax Planning
Tax planning is a juggling act for business owners. You have to keep your eye on your company’s income and expenses and applicable tax breaks (especially if you own a pass-through entity). But you also must look out for your own financial future.
Time to Celebrate! FASB Expands VIE Exception for Private Companies
The Financial Accounting Standards Board (FASB) recently gave private companies long-awaited relief from one of the most complicated aspects of financial reporting — consolidation of variable interest entities (VIEs). Here are the details.
A Review of Significant TCJA Provisions Impacting Individual Taxpayers
Now that 2019 has begun, there isn’t too much you can do to reduce your 2018 income tax liability. But it’s smart to begin preparing for filing your 2018 return.
Make Sure the Price is Right with Market Research
The promise of the new year lies ahead. One way to help ensure it’s a profitable one is to re-evaluate your company’s pricing strategy.
You May be Able to Save More for Retirement in 2019
Retirement plan contribution limits are indexed for inflation, and many have gone up for 2019, giving you opportunities to increase your retirement savings.
Do Your Long-Term Customers Know Everything About You?
A technician at a mobility equipment supplier was servicing the motorized wheelchair of a long-time customer and noticed it was a brand-new model. “Where did you buy the chair?” he asked the customer. “At the health care supply store on the other side of town,” the customer replied.
Automatic Extension Available for Making Portability Election
Portability allows a surviving spouse to apply a deceased spouse’s unused estate tax exemption amount toward his or her own transfers during life or at death.
How to Prepare for Year-End Physical Inventory Counts
As year end approaches, it’s time for calendar-year entities to perform physical inventory counts. This activity is more than a compliance chore. Proactive companies see it as an opportunity to improve operational efficiency.