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From the Blog

06.02.2023 02:13

DOs and DON’Ts When Deducting Business Meal and Vehicle Expenses

guidelines for deducting business meals and vehicle expenses

If you’re claiming deductions for business meals or auto expenses, expect the IRS to closely review them. In some cases, taxpayers have incomplete documentation or try to create records months (or years) later. In doing so, they fail to meet...

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05.31.2023 02:20

Avoid Succession Drama with a Buy-Sell Agreement

putting together an entity buy-sell agreement

Recently, the critically acclaimed television show “Succession” aired its final episode. If the series accomplished anything, it was depicting the chaos and uncertainty that can take place if a long-time business owner fails to establish a clearly written and communicated...

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05.29.2023 06:14

The IRS Has Just Announced 2024 Amounts for Health Savings Accounts

2024 hsa amounts

The IRS recently released guidance providing the 2024 inflation-adjusted amounts for Health Savings Accounts (HSAs). HSA Fundamentals An HSA is a trust created or organized exclusively for the purpose of paying the “qualified medical expenses” of an “account beneficiary.” An...

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05.26.2023 02:13

Is It Time For A Targeted Marketing Campaign?

targeted marketing campaigns

If you’ve been in business a while, you might assume that you know exactly who your customers are. But, as the saying goes, “life comes at you fast.” Customer desires, preferences and demographics can all shift before you know it. One way...

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05.19.2023 02:13

If You’re Hiring Independent Contractors, Make Sure They’re Properly Handled

independent contractor laws for businesses

Many businesses use independent contractors to help keep their costs down — especially in these times of staff shortages and inflationary pressures. If you’re among them, be careful that these workers are properly classified for federal tax purposes. If the...

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05.17.2023 02:20

Addressing Pay Equity At Your Business

addressing pay equity in the workplace

Businesses today are under greater pressure to fully understand and thoroughly respond to the issue of pay equity. And neither of these two broad undertakings is particularly easy. First, fully understanding what pay equity is and whether and how it...

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05.12.2023 02:13

Use The Tax Code To Make Business Losses Less Painful

net operating loss deduction for businesses

Whether you’re operating a new company or an established business, losses can happen. The federal tax code may help soften the blow by allowing businesses to apply losses to offset taxable income in future years, subject to certain limitations. Qualifying...

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05.10.2023 02:20

6 Tried-and-True Strategies for Improving Collections

six proven effective strategies for debt collections

Businesses that operate in the retail or restaurant spheres have it relatively easy when it comes to debt collection. They generally take payments right at a point-of-sale terminal and customers go on their merry ways. (These enterprises face many other...

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