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Keeping a king in the castle with a well-maintained cash reserve

By |2018-09-21T15:26:05+00:00September 21st, 2018|Latest News|

You’ve no doubt heard the old business cliché “cash is king.” And it’s true: A company in a strong cash position stands a much better chance of obtaining the financing it needs, attracting outside investors or simply executing its own strategic plans. One way to ensure that there’s always a king in the castle, so

The tax deduction ins and outs of donating artwork to charity

By |2018-09-18T16:26:14+00:00September 18th, 2018|Latest News|

If you’re charitably inclined and you collect art, appreciated artwork can make one of the best charitable gifts from a tax perspective. In general, donating appreciated property is doubly beneficial because you can both enjoy a valuable tax deduction and avoid the capital gains taxes you’d owe if you sold the property. The extra benefit

Are you ready to expand to a second location?

By |2018-09-18T16:24:04+00:00September 18th, 2018|Latest News|

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

You might save tax if your vacation home qualifies as a rental property

By |2018-09-11T19:26:26+00:00September 11th, 2018|Latest News|

Do you own a vacation home? If you both rent it out and use it personally, you might save tax by taking steps to ensure it qualifies as a rental property this year. Vacation home expenses that qualify as rental property expenses aren’t subject to the Tax Cuts and Jobs Act’s (TCJA’s) new limit on

Prepare for valuation issues in your buy-sell agreement

By |2018-09-10T12:40:57+00:00September 10th, 2018|Latest News|

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.

Back-to-school time means a tax break for teachers

By |2018-09-04T18:31:05+00:00September 4th, 2018|Latest News|

When teachers are setting up their classrooms for the new school year, it’s common for them to pay for a portion of their classroom supplies out of pocket. A special tax break allows these educators to deduct some of their expenses. This educator expense deduction is especially important now due to some changes under the

Do you need to make an estimated tax payment by September 17?

By |2018-09-21T15:27:41+00:00September 4th, 2018|Latest News|

To avoid interest and penalties, you must make sufficient federal income tax payments long before your April filing deadline through withholding, estimated tax payments, or a combination of the two. The third 2018 estimated tax payment deadline for individuals is September 17. If you don’t have an employer withholding tax from your pay, you likely

HSA + HDHP can be a winning health benefits formula

By |2018-09-04T18:21:48+00:00September 4th, 2018|Latest News|

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,

Play your tax cards right with gambling wins and losses

By |2018-08-27T19:53:14+00:00August 27th, 2018|Latest News|

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 income You must report 100% of your gambling winnings as taxable income. The value of complimentary goodies

Business tips for back-to-school time

By |2018-08-27T19:48:32+00:00August 27th, 2018|Latest News|

Late summer and early fall, when so many families have members returning to educational facilities of all shapes and sizes, is also a good time for businesses to creatively step up their business development efforts, whether it’s launching new marketing initiatives, developing future employees or simply generating goodwill in the community. Here are a few