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Spouse’s Travel Costs

February 22, 2022

Company owners frequently ask what costs are deductible if their spouse accompanies them on a business trip. One must remember that the rules for deducting a spouse’s travel costs are very restrictive unless your spouse is a bona fide employee. This requirement prevents tax deductibility in most cases.

Manufacturing Cyberattack Risks

February 17, 2022

Cyberattack risks for manufacturers are a threat even though manufacturing companies generally don’t sell products on the Internet or collect credit card numbers and other sensitive customer data.

Withdraw Cash from Company

February 16, 2022

The simplest way to withdraw cash from closely-held corporations is to distribute the cash as a dividend. However, this isn't tax-efficient because it is taxable to you to the extent of your corporation's "earnings and profits," It is also not deductible by the corporation. But, there are alternate methods.

Keeping Remote Workers Connected

February 16, 2022

Many employees have appreciated the opportunity to work from home, but not all of them and some remote workers feel disconnected and isolated. If you plan to make remote working a part of your company, you need ways of keeping remote workers connected to their jobs and colleagues.

Remote Selling for Manufacturers

February 11, 2022

Even before COVID-19’s impact on businesses, remote selling for manufacturers was becoming a “new normal.” For several years prior to COVID-19, there was a trend toward digital interactions that were accelerated by the social-distancing environment and now may become permanent.

Sole Proprietor Tax Issues

February 11, 2022

Sole proprietor tax issues are important considerations for new and existing businesses. In this article are eight important issues to consider.

Recruiting NFP Staff

February 2, 2022

The Great Resignation has hit not-for-profit organizations hard, and recruiting NFP staff will most likely require you to up your recruiting game. As many for-profit businesses have raised pay and hiring incentives to hire new staff, nonprofits have lost staff.

Deductible Expenses & Good Records

January 31, 2022

Two things that business owners need to remember are that deductible expenses & good records can make life easier when filing taxes and help defend the expenses if the IRS conducts an audit.

Entrepreneurs and Taxes

January 25, 2022

If you have started or are contemplating starting a new business, as a new business owner you need to be aware of the implications that affect entrepreneurs and taxes.

How Many NFP Directors are Needed

January 25, 2022

When a nonprofit is new, it may struggle to find an adequate number of board members. But as it grows, its board is also likely to grow — sometimes, to an unwieldy size. The important question is: How many nonprofit directors are needed for your organization to effectively pursue its mission?

Nonprofit Restricted Gifts

January 17, 2022

Occasionally, a nonprofit will receive restricted gifts. With an unrestricted gift, organizations have the flexibility to use the money where it’s needed most. However, gifts with restrictions require a higher level of responsibility.

Employer Tip Tax Credit

January 10, 2022

If you are an employer with employees who receive tips, it is possible that you may qualify for an employer tip tax credit for a portion of the tips. Sound too good to be true?

Nonprofit Financial Resilience

January 7, 2022

Despite COVID-19 and other roadblocks, your nonprofit needs financial resilience for the upcoming year and beyond. Forecasting can be difficult, but your staff and the board’s finance committee have ways to deal with obstacles. Here are three suggestions:

Like-Kind Exchange Could Defer Tax

January 5, 2022

With real estate prices up in some markets, the Section 1031 “like-kind” exchange strategy may be attractive if you want to sell highly appreciated commercial or investment real estate.

2022 First-Quarter Tax Deadlines

January 4, 2022

Businesses face several 2022 first-quarter tax deadlines. This list is not all-inclusive, and additional deadlines may apply to you. Also, remember that this list isn’t all-inclusive, so there may be other deadlines that apply to you.