In the early 1990s, the Balanced Scorecard approach to strategic business planning was developed to enable business owners to better organize and visualize their objectives. With 2021 shaping up to be a year of both daunting challenges and potentially remarkable recovery, your company should have a strategic plan that’s both comprehensive and flexible. Giving this … Continue reading “The Balanced Scorecard Approach To Strategic Planning”
Month: December 2020
2021 Q1 Tax calendar: Key Deadlines for Businesses & Other Employers
Here are some of the key deadlines for the Q1 taxes 2021 affecting businesses and other employers. Keep in mind that this list isn’t all-inclusive, so there may be additional deadlines that apply to you. Contact us to ensure you’re meeting all applicable deadlines and to learn more about the filing requirements. January 15 Pay … Continue reading “2021 Q1 Tax calendar: Key Deadlines for Businesses & Other Employers”
Rightsizing Your Sales Force
With a difficult year almost over, and another one on the horizon, now may be a good time to assess your sales team structure. Maybe the economic changes triggered by the COVID-19 pandemic led you to downsize earlier in the year. Or perhaps you’ve added to your sales team to seize opportunities. In either case, … Continue reading “Rightsizing Your Sales Force”
Drive More Savings To Your Business With The Heavy SUV Tax Break
Are you considering replacing a car that you’re using in your business? There are several tax implications to keep in mind. A Cap on Deductions Cars are subject to more restrictive tax depreciation rules than those that apply to other depreciable assets. Under so-called “luxury auto” rules, depreciation tax savings are artificially “capped.” So is … Continue reading “Drive More Savings To Your Business With The Heavy SUV Tax Break”
Should You Add A Technology Executive To Your Staff?
The COVID-19 pandemic and resulting economic impact to small businesses have hurt many. However, for others, the jarring challenges this year have created opportunities and accelerated changes that were probably going to occur all along. One particular area of speedy transformation is technology. It’s never been more important for businesses to: – Wield their internal … Continue reading “Should You Add A Technology Executive To Your Staff?”
QBI Deduction Basics & Year-End Tax Tips
If you own a business, you may wonder if you’re eligible to take the qualified business income (QBI) deduction. Sometimes this is referred to as the pass-through deduction or the Section 199A deduction. The QBI Deduction Is available to owners of sole proprietorships, single member limited liability companies (LLCs), partnerships, and S corporations. This deduction … Continue reading “QBI Deduction Basics & Year-End Tax Tips”
Family Business Owners Must Weave Together Succession & Estate Planning
It’s been estimated that there are roughly 5 million family owned businesses in the United States. Annually, these companies make substantial contributions to both employment figures and the gross domestic product. Do you run a family owned business? If so, one important issue to address is how to best weave together a succession planning strategy … Continue reading “Family Business Owners Must Weave Together Succession & Estate Planning”
Small Businesses: Cash In On Depreciation Tax Savings
We are approaching the end of the year. Now is a good time to think about whether your business needs to buy business equipment and other depreciable property. If so, you may benefit from the Section 179 depreciation tax savings for business property. The election provides a tax windfall to businesses, enabling them to claim … Continue reading “Small Businesses: Cash In On Depreciation Tax Savings”
Lessons of 2020: Change Management
The year 2020 has taught businesses many lessons. The sudden onset of the COVID-19 pandemic followed by drastic changes to the economy have forced companies to alter the size of their workforces, restructure work environments and revise sales models — just to name a few challenges. And what this company restructuring has all meant for … Continue reading “Lessons of 2020: Change Management”