The recently passed tax reform bill, commonly referred to as the “Tax Cuts and Jobs Act” (TCJA), is the most expansive federal tax legislation since 1986. It includes a multitude of provisions that will have a major impact on businesses. Here’s we provide a Tax Cuts and Jobs Act analysis with a look at some … Continue reading “Tax Cuts and Jobs Act Analysis: Key Provisions Affecting Businesses”
Month: February 2018
How To Implement A Social Media Strategy
Social media can be an inexpensive, but effective, way to market a company’s products or services. Like most businesses today, you’ve probably at least dipped your toe into its waters. Or perhaps you have a full-blown, ongoing social media strategy involving multiple sites and a variety of content. In either case, it’s important to ask … Continue reading “How To Implement A Social Media Strategy”
Hire Certain “Target Groups” for the Work Opportunity Tax Credit Eligibility
Many businesses hired in 2017, and more are planning to hire in 2018. If you’re among them and your hires include members of a “target group,” you may be eligible for the Work Opportunity tax credit (WOTC). If you made qualifying hires in 2017 and obtained proper certification, you can claim the WOTC program on … Continue reading “Hire Certain “Target Groups” for the Work Opportunity Tax Credit Eligibility”
Purpose of Benchmarking: To Swim with the Big Fish
You may keep a wary eye on your competitors, but sometimes it helps to look just a little bit deeper. Even if you’re a big fish in your pond, someone a little bigger may be swimming up just beneath you. Being successful means not just being aware of these competitors, but also knowing their approaches … Continue reading “Purpose of Benchmarking: To Swim with the Big Fish”
SEP Tax Benefits for Small Business Owners
Are you a high-income small-business owner who doesn’t currently have a tax-advantaged retirement plan set up for yourself? A Simplified Employee Pension (SEP) may be just what you need, and now may be a great time to establish one. The SEP tax benefits have high contribution limits and is simple to set up. Best of … Continue reading “SEP Tax Benefits for Small Business Owners”
Employee Training Tips for Profitable Results
Many businesses train employees how to do their jobs and only their jobs. But amazing things can happen when you also teach staff members to actively involve themselves in a profitability process. That is, an ongoing, idea-generating system aimed at adding value to your company’s bottom line. Let’s take a closer look with our employee … Continue reading “Employee Training Tips for Profitable Results”
Claiming the Bonus Depreciation Deduction On Your 2017 Tax Return
With the bonus depreciation deduction, a business can recover the costs of depreciable property more quickly by claiming additional first-year depreciation for qualified assets. The Tax Cuts and Jobs Act (TCJA), signed into law in December, created new bonus depreciation rules enhancing the deduction. Typically, taking this break is beneficial. But in certain situations, … Continue reading “Claiming the Bonus Depreciation Deduction On Your 2017 Tax Return”
What Is Business Interruption Insurance & How It Can Help Some Companies
What is business interruption insurance? Natural disasters and other calamities can affect any company at any time. Depending on the type of business and its financial stability, a few weeks or months of lost income can leave it struggling to turn a profit indefinitely — or force ownership to sell or close. One way to … Continue reading “What Is Business Interruption Insurance & How It Can Help Some Companies”