If you’re the owner of an incorporated business, you know there’s a tax advantage to taking money out of a C corp salary vs dividends. The reason: A corporation can deduct the salaries and bonuses that it pays executives, but not dividend payments. Therefore, if funds are paid as dividends, they’re taxed twice, once to … Continue reading “4 Ways Corporate Business Owners Can Help Ensure Their Compensation Is “Reasonable””
Month: April 2023
Strengthen Strategic Planning With Competitive Intelligence
Business owners and their leadership teams are rightly urged to engage in regular strategic business planning to move their companies, thoughtfully and consciously, in a positive direction. However, no matter how sound a set of strategic objectives might be, it’s always important to bear in mind that your competitors have plans of their own. That’s … Continue reading “Strengthen Strategic Planning With Competitive Intelligence”
The Tax Advantages Of Hiring Your Child This Summer
Summer is around the corner so you may be thinking about hiring young people at your small business. At the same time, you may have children looking to earn extra spending money. You can save family income and payroll taxes by hiring a child on the payroll. Hiring children for summer employment is a win-win! … Continue reading “The Tax Advantages Of Hiring Your Child This Summer”
It’s Happening: Using Social Media For Customer Service
Everyone is on social media these days, including businesses and their customers. This creates a natural — or shall we say virtual — nexus for companies to field questions, comments and complaints from buyers or those interested in their products or services. In other words, whether companies realize it or not, customer service is happening online. … Continue reading “It’s Happening: Using Social Media For Customer Service”
How Businesses Can Use Stress Testing To Improve Risk Management
If you’ve been following the news lately, you’ve surely heard or read about the sudden rise in concern about the banking industry. Although the story is still unfolding, an important lesson for business owners is already clear: You’ve got to be constantly on guard against the many risks to your company’s financial solvency. Now is … Continue reading “How Businesses Can Use Stress Testing To Improve Risk Management”