The use of a company vehicle is a valuable tax free fringe benefit for owners and employees of small businesses. This benefit results in tax deductions for the employer. In addition, tax breaks are available for the owners and employees using the cars. (And of course, they get the non-tax benefits of driving the cars!) … Continue reading “Company Car Tax Benefits & Implications”
Month: August 2019
Improving Sales: 4 Tough Questions To Ask About Your Sales Department
Among the fastest ways for a business to fail is because of mis-management or malfeasance by ownership. On the other hand, among the slowest ways is ineffectively improving sales or a dysfunctional sales department. Companies suffering from this malady may maintain just enough sales to stay afloat for a while, but eventually they go under … Continue reading “Improving Sales: 4 Tough Questions To Ask About Your Sales Department”
The Best KPI Dashboards: Software To Help Keep Your Eyes On The Prize
Like most business owners, you’ve probably been urged by industry experts and professional advisors to identify the most important types of key performance indicators (KPIs) for your company. So, just for the sake of discussion, let’s say you’ve done that. A natural question that often follows is: Now what? You know you’re supposed to keep … Continue reading “The Best KPI Dashboards: Software To Help Keep Your Eyes On The Prize”
What To Do If Your Business Receives An SSA “No-Match” Letter
In the past few months, many businesses and employers nationwide have received “no-match” letters from the Social Security Administration (SSA). The purpose of a SSA no match letter is to alert employers if there’s a discrepancy between the agency’s files and data reported on W-2 forms, which are given to employees and filed with the … Continue reading “What To Do If Your Business Receives An SSA “No-Match” Letter”
Hiring A Startup CFO or Controller
Many business owners reach a point where managing the financial side of the enterprise becomes overwhelming. Usually, this is a good thing! The company has grown to a point where simple bookkeeping and basic financial reporting just don’t cut it anymore. If you can relate to the feeling, hiring a startup CFO or controller might … Continue reading “Hiring A Startup CFO or Controller”
IRS is Targeting Business Transactions in Bitcoin & Other Virtual Currencies
Bitcoin and other forms of virtual currency are gaining popularity. But there is still a lot of confusion with many businesses, consumers, employees and investors. There is confusion how they work, how to report transactions on their federal tax returns and pay the bitcoin tax. An announcement recently came from the IRS known as the … Continue reading “IRS is Targeting Business Transactions in Bitcoin & Other Virtual Currencies”
Taking a Long-Term Approach to Certain Insurance Documentation
After business insurance policies expire, many companies just throw away the paper copies and delete the digital files. However, you may need to produce evidence of certain kinds of insurance even after expiration of the coverage period! For this reason, it’s best to take a long-term approach to certain types of policies. Occurrence-Based Insurance Generally, … Continue reading “Taking a Long-Term Approach to Certain Insurance Documentation”
Take A Closer Look At The 2019 Home Office Deduction
Working from home has its perks. Not only can you skip the commute, but you also might be eligible for the 2019 home office deduction. With this deduction, you can account your home office expenses on your tax return. Deductions for these expenses can save you a bundle, if you meet the tax law qualifications. … Continue reading “Take A Closer Look At The 2019 Home Office Deduction”