News & Articles

When Is Service Business Income Eligible for the New QBI Deduction?

Posted on Wed, Sep 12, 2018

The IRS has issued much-anticipated regulations addressing the new deduction of up to 20% of qualified business income (QBI) from pass-through entities. The QBI deduction was a major piece of the Tax Cuts and Jobs Act that was signed into law in December 2017.

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Tags: Business Owner, Qualified Business Income (QBI)

Gen Z May Change How You Manage Employees

Posted on Mon, Sep 10, 2018
Is your workplace ready for Generation Z? Lately, many demographers and generation-focused marketing experts have been vocal about what they observe in Gen Z, the newest additions to the job applicant pool. 
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Tags: Employees, Gen Z

Is it Time to Rebid Your Vendor Contracts?

Posted on Mon, Aug 27, 2018

While it's great to have a good rapport with your vendors, it's important to ensure the relationship remains businesslike. Vendors who know there is a threat that they could lose your contract are more likely to focus on staying competitive.

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Tags: Business, Small Business, Business Finance, Business Owner

QBI Deduction Provides Tax Break to Pass-Through Entity Owners

Posted on Fri, Aug 24, 2018

The IRS recently issued proposed reliance regulations to help clarify the new qualified business income (QBI) deduction that was introduced as part of the Tax Cuts and Jobs Act. This guidance is complex and hundreds of pages long. As part of the proposed regs, the IRS explained that, if certain requirements are met, individuals, estates and trusts (all referred to as "individuals" by the proposed regs) that own interests in more than one qualifying trade or business can (but aren't required to) aggregate them, by treating them as a single trade or business.

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Tags: IRS, Business Owner, Tax Cuts and Jobs Act (TCJA), Qualified Business Income (QBI)

What's Next for State Tax Nexus?

Posted on Mon, Aug 20, 2018

The recent Wayfair decision has drastically altered the landscape for states that want to collect sales and use taxes. Prior to this landmark U.S. Supreme Court case, economic "nexus" for tax purposes was established only if the seller of goods or services exhibited a "physical presence" in the state. Under Wayfair, sales and use tax obligations may be imposed on remote sellers — even those operating solely online. (South Dakota v. Wayfair, S. Ct. No. 17-494, June 21, 2018)

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Tags: Sales Tax, Taxation, Small Business, Supreme Court, Nexus

Pull the Plug on Employee Theft

Posted on Tue, Jul 24, 2018

Not all crooks roam the streets at night. Some might be roaming your company hallways, stealing cash, forging or altering checks, and pilfering your inventory and property.

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Tags: Small Business, Employees, Theft

Make Your Workplace Drug Free

Posted on Thu, Jul 19, 2018

Employee drug and alcohol abuse can cost your company in many ways, including increased absences, workplace accidents and high health costs. In addition, studies show that drug users are five times more likely than other employees to file a worker's compensation claim.

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Tags: Department of Labor, Business Owner, Drug and Alcohol Testing

A Closer Look at the Excess Earnings Method

Posted on Tue, Jul 17, 2018

The Excess Earnings Method was originally created to compensate wineries and distilleries during Prohibition. Valuation experts often criticize this method, calling it ambiguous, over-simplified or outdated. But it's still used in some jurisdictions as a way to value small businesses and professional practices, especially in a divorce setting.

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Tags: Valuation, Business Valuation, Small Business

Ensure You Qualify for Charitable Donation Deductions

Posted on Thu, Jul 12, 2018

Giving to charity can provide you with a warm feeling as well as a nice tax break. But you've got to itemize deductions on your tax return. And, like most tax breaks, charitable deductions come with a number of rules you must follow to actually claim the write-off. Here are the details.

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Tags: Charitable Giving, IRS, Charitable Donations

New ACA Legal Battle Could Affect Individual and Employer Health Coverage

Posted on Tue, Jul 10, 2018

The Affordable Care Act (ACA) has been controversial since it was enacted in 2010. The latest legal attack calls into question whether insurance carriers will still be required to issue coverage to individuals without regard to pre-existing medical conditions, and the degree of pricing flexibility that carriers will have based on the demographics of a covered group.

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Tags: Health Insurance, Changes in ACA, ACA, Tax Cuts and Jobs Act (TCJA)