Reimburse Employee Travel Expenses

Tax-wise Ways to Reimburse Employee Travel Expenses

If your employees incur work-related travel expenses, you can better attract and retain the best talent by reimbursing these expenses. But to secure tax-advantaged treatment for your business and your employees, it’s critical to comply with…
Hire your Children

Save on Business & Personal Taxes: Hire Your Children

It can be difficult in the current job market for students and recent graduates to find summer or full-time jobs. If you’re a business owner with children in this situation, you may be able to provide them with valuable experience and income…
Buy Home

Help your Child or Grandchild Buy a Home

Mortgage interest rates are still at low levels, but they likely will increase as the Fed continues to raise rates. So if you’ve been thinking about helping your child — or grandchild — buy a home, consider acting soon. There also are…
Tax consequences of partnerships

Tax Consequences of Partnerships

In today’s competitive environment, offering employees an equity interest in your business can be a powerful tool for attracting, retaining and motivating quality talent. If your business is organized as a partnership, there are tax consequences…
IRS Audit

What Business Owners Should Know About IRS Audits

If you recently filed for your 2016 income tax return (rather than filing for an extension) you may now be wondering whether it’s likely that your business could be audited by the IRS based on your filing. Here’s what every business owner…
Contractor

Contractors: Protect Your Business

  One missing  document can become very costly for Contractors. Here are 5 tips to protect your business and save you money. 1.Your Subcontractor’s Work Comp Exemption Cert is not Enough Many contractors think if their subcontractor…
Roth IRA

A "Back-door" Roth IRA can Benefit Higher Income Tax-Payers

A potential downside of tax-deferred saving through a traditional retirement plan is that you’ll have to pay taxes when you make withdrawals at retirement. Roth plans, on the other hand, allow tax-free distributions; the trade-off is that…
IT Plan

Creating a Strategic IT Plan

Many companies take an ad hoc approach to technology. If you’re among them, it’s understandable; you probably had to automate some tasks before others, your tech needs have likely evolved over time, and technology itself is always changing.…
Supply Chain

Concentration Risks in your Supply Chain

Concentration risks are a threat to your supply chain. These occur when a company relies on a customer or supplier for 10% or more of its revenue or materials, or on several customers or suppliers located in the same geographic region. If a…
Looking for a Successor

3 Hot Spots to Look for your Successor

Picking someone to lead your company after you step down is probably among the hardest aspects of retiring (or otherwise moving on). Sure, there are some business owners who have a ready-made successor waiting in the wings at a moment’s notice.…