News

September 17, 2018
Does your business reimburse employees’ work-related travel expenses? If you do, you know that it can help you attract and retain employees. If you don’t, you might want to start, because changes under the Tax Cuts and Jobs Act (TCJA) make such reimbursements even more attractive to employees. Travel reimbursements also come with tax benefits, but... Read More
September 17, 2018
Most business owners want to grow their companies. And one surefire sign of growth is when ownership believes the company can expand its operations to a second location.If your business has reached this point, or is nearing it, both congratulations and caution are in order. You’ve clearly done a great job with growth, but that doesn’t necessarily... Read More
September 10, 2018
Every business with more than one owner needs a buy-sell agreement to handle both expected and unexpected ownership changes. When creating or updating yours, be sure you’re prepared for the valuation issues that will come into play.Issues, what issues? Emotions tend to run high when owners face a “triggering event” that activates the buy-sell... Read More
September 6, 2018
Natalie Luppold CPA, CISA, CITP On July 29, 2017, Equifax discovered suspicious network traffic. After an investigation, Equifax determined that a website application vulnerability granted unauthorized access to sensitive data from May 13 through July 30. On September 7, 2017, Equifax publically announced the breach of 143 million Americans’... Read More
September 4, 2018
Navigating the New Qualified Business Income Deduction Robert Newton, CPA, CVA The tax reform legislation that Congress signed into law on December 22, 2017, was the largest change to the tax system in over 3 decades. The new tax code contains many provisions that will affect individual, estate, and corporate taxpayers. One of those changes... Read More
September 4, 2018
Classifying a worker as an independent contractor frees a business from payroll tax liability and allows it to forgo providing overtime pay, unemployment compensation and other employee benefits. It also frees the business from responsibility for withholding income taxes and the worker’s share of payroll taxes.For these reasons, the federal... Read More
September 4, 2018
If you’ve done any research into employee benefits for your business recently, you may have come across a bit of alphabet soup in the form of “HSA + HDHP.” Although perhaps initially confusing, this formula represents an increasingly popular model for health care benefits — that is, offering a Health Savings Account (HSA) coupled with, as required... Read More
August 27, 2018
The pieces of tax legislation garnering the most attention these days are the Tax Cuts and Jobs Act (TCJA) signed into law last December and the possible “Tax Reform 2.0” that Congress might pass this fall. But for certain individual taxpayers, what happens with “extenders” legislation is also important. Recent historyBack in December of 2015... Read More
August 27, 2018
If your small business doesn’t offer its employees a retirement plan, you may want to consider a SIMPLE IRA. Offering a retirement plan can provide your business with valuable tax deductions and help you attract and retain employees. For a variety of reasons, a SIMPLE IRA can be a particularly appealing option for small businesses. The deadline... Read More
August 21, 2018
If you gamble, be sure you understand the tax consequences. Both wins and losses can affect your income tax bill. And changes under the Tax Cuts and Jobs Act (TCJA) could also have an impact.Wins and taxable incomeYou must report 100% of your gambling winnings as taxable income. The value of complimentary goodies (“comps”) provided by gambling... Read More

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