News & Articles

7 Year-End Tax Planning Moves for Small Businesses

Posted on Mon, Oct 29, 2018

Business owners still have time to significantly reduce their tax bills for 2018. Here are seven year-end moves to consider, taking into account changes included in the Tax Cuts and Jobs Act (TCJA).

Read More

Tags: Tax Cuts and Jobs Act (TCJA), Tax Planning, Business Owner

How Much Does the IRS Let Delinquent Taxpayers Live On Each Month?

Posted on Wed, Oct 10, 2018

The IRS uses "Collection Financial Standards" to help determine a taxpayer's ability to pay a delinquent tax liability. Allowable living expenses include those that meet the test of being necessary to provide for a taxpayer's (and his or her family's) health and welfare, as well as his or her ability to produce income.

Read More

Tags: Taxes, IRS, Healthcare

Employers: IRS Updates Business Travel Per Diems

Posted on Mon, Oct 08, 2018

Under current tax law, employees aren't allowed to claim miscellaneous itemized deductions — including unreimbursed business expenses — on their personal tax returns for 2018 through 2025. So, it may be more important than ever for employers to set up expense reimbursement plans for business-related travel costs.

Read More

Tags: Travel, Business Travel, Tax Cuts and Jobs Act (TCJA)

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.

Read More

Tags: Qualified Business Income (QBI), Business Owner

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. 
Read More

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.

Read More

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

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.

Read More

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

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)

Read More

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

Read More

Tags: Theft, Employees, Small Business

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.

Read More

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