adjust withholding
deduct business travel while on vacation
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Deduct business travel with a vacation?

At this time of year, a summer vacation is on many people’s minds. If you travel for business, combining a business trip with a vacation to offset some of the cost with a tax deduction can sound appealing. But tread carefully, or you might…
Workers Status
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File Form SS-8 to ask the IRS to determine a worker’s status

Classifying workers as independent contractors — rather than employees — can save businesses money and provide other benefits. But the IRS is on the lookout for businesses that do this improperly to avoid taxes and employee benefit obligations. To…
avoid bank fraud
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3 Ways to Protect Yourself Against Bank Fraud

Electronic transactions and internet-based accounts are convenient, but present an environment that is tempting to hackers. Here are 3 ways to protect yourself against bank fraud. Here's how it happens: An ACH payment is made from your…
backing up
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Are You Backing Up Your Quickbooks Data?

We all know it’s important to back up our files, but in many cases, it takes a crisis to drive the point home. Are you backing up your Quickbooks data regularly? Here are a couple of cases in which experienced bookkeepers learned this lesson…
TCJA will affect individuals
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Tax Reform: How the TCJA will Affect Individuals

On December 20, Congress completed passage of the largest federal tax reform law in more than 30 years. Commonly called the “Tax Cuts and Jobs Act” (TCJA), the new law means substantial changes for individual taxpayers. Here's how the TCJA…
family business
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Choosing a Successor for your Family Business

There’s an old saying regarding family-owned businesses: “Shirtsleeves to shirtsleeves in three generations.” It means the first-generation owner started in shirtsleeves and built the company up from nothing but, by the third generation,…
life insurance policy
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Who Should Own Your Life Insurance Policy?

If you own life insurance policies at your death, the proceeds will be included in your taxable estate. Ownership is usually determined by several factors, including who has the right to name the beneficiaries of the proceeds. The way around…
estate tax planning
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Take A Flexible Approach to Estate Tax Planning

Events of the last decade have taught us that taxes are anything but certain. Case in point: Congress is mulling abolishing gift and estate taxes as part of tax reform. So how can people who hope to still have long lifespans ahead of them plan…
cash balance plan

Cash Balance Plans can Accelerate Retirement Planning

Business owners may not be able to set aside as much as they’d like in tax-advantaged retirement plans. Typically, they’re older and more highly compensated than their employees, but restrictions on contributions to 401(k) and profit-sharing…