Managing the financial performance of your business may sometimes seem like steering a ship through treacherous waters. Perhaps your voyage goes smoothly for a while until, quite suddenly, you hit a concerning dip or abrupt swell — either of which creates considerable operational pressure. Your financial statements should provide keen insights into how your company … Continue reading “Companies can shine a light on financial uncertainty with flash reports”
Month: December 2024
Operating as a C corporation: Weigh the benefits and drawbacks
When deciding on the best structure for your business, one option to consider is a C corporation. This entity offers several advantages and disadvantages that may significantly affect your business operations and financial health. Here’s a detailed look at the pros and cons of operating as a C corporation. Tax implications A C corporation allows the … Continue reading “Operating as a C corporation: Weigh the benefits and drawbacks”
Companies can shine a light on financial uncertainty with flash reports
Managing the financial performance of your business may sometimes seem like steering a ship through treacherous waters. Perhaps your voyage goes smoothly for a while until, quite suddenly, you hit a concerning dip or abrupt swell — either of which creates considerable operational pressure. Your financial statements should provide keen insights into how your company … Continue reading “Companies can shine a light on financial uncertainty with flash reports”
The tax treatment of intangible assets
Intangible assets, such as patents, trademarks, copyrights and goodwill, play a crucial role in today’s businesses. The tax treatment of these assets can be complex, but businesses need to understand the issues involved. Here are some answers to frequently asked questions. What are intangible assets? The term “intangibles” covers many items. Determining whether an acquired … Continue reading “The tax treatment of intangible assets”
Businesses need to stay on top of their BYOD policies
In one way or another, most small to midsize businesses have addressed employees using personal devices for work. In 2022, online career platform Zippia reported that 83% of companies surveyed had a bring your own device (BYOD) policy “of some kind.” That percentage has likely increased as even more businesses have recognized the inherent risks … Continue reading “Businesses need to stay on top of their BYOD policies”
Drive down your business taxes with local transportation cost deductions
Understanding how to deduct transportation costs could significantly reduce the tax burden on your small business. You and your employees likely incur various local transportation expenses each year, and they have tax implications. Let’s start by defining “local transportation.” It refers to travel when you aren’t away from your tax home long enough to require … Continue reading “Drive down your business taxes with local transportation cost deductions”
Tax-Saving Moves to Make Before the Year Ends
Now that the holiday season is here, it’s important to get year-end tax planning out of the way before relaxing with your loved ones. Tax policies change every year, and your income may look very different next year. It’s crucial to examine tax optimization strategies between now and December 31 to maximize deductions, credits, and … Continue reading “Tax-Saving Moves to Make Before the Year Ends”
ESOPs can help business owners with succession planning
Devising and executing the right succession plan is challenging for most business owners. In worst-case scenarios, succession planning is left to chance until the last minute. Chaos, or at least much confusion and uncertainty, often follows. The most foolproof way to make succession planning easier is to give yourself plenty of time to develop a … Continue reading “ESOPs can help business owners with succession planning”