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Careful tax planning required for incentive stock options

By |2019-02-26T17:33:01+00:00February 26th, 2019|Latest News|

Incentive stock options (ISOs) are a popular form of compensation for executives and other employees of corporations. They allow you to buy company stock in the future at a fixed price equal to or greater than the stock’s fair market value on the ISO grant date. If the stock appreciates, you can buy shares at

Some of your deductions may be smaller (or nonexistent) when you file your 2018 tax return

By |2019-02-26T17:24:26+00:00February 26th, 2019|Latest News|

While the Tax Cuts and Jobs Act (TCJA) reduces most income tax rates and expands some tax breaks, it limits or eliminates several itemized deductions that have been valuable to many individual taxpayers. Here are five deductions you may see shrink or disappear when you file your 2018 income tax return: 1. State and local

Don’t let scope creep ruin your next IT project

By |2019-02-26T17:21:53+00:00February 26th, 2019|Latest News|

Today’s business technology is both powerful and restive. No matter how “feature rich” a software solution or hardware asset may be, there’s always another upgrade around the corner. In other words, it’s just a matter of time before your company’s next IT project. When that day arrives, watch out for “scope creep.” This term refers

3 big TCJA changes affecting 2018 individual tax returns and beyond

By |2019-02-19T14:27:28+00:00February 19th, 2019|Latest News|

When you file your 2018 income tax return, you’ll likely find that some big tax law changes affect you — besides the much-discussed tax rate cuts and reduced itemized deductions. For 2018 through 2025, the Tax Cuts and Jobs Act (TCJA) makes significant changes to personal exemptions, standard deductions and the child credit. The degree

Best practices when filing a business interruption claim

By |2019-02-19T14:25:03+00:00February 19th, 2019|Latest News|

Many companies, especially those that operate in areas prone to natural disasters, should consider business interruption insurance. Unlike a commercial property policy, which may cover certain repairs of damaged property, this coverage generally provides the cash flow to cover revenues lost and expenses incurred while normal operations are suspended because of an applicable event. But

Why you shouldn’t wait to file your 2018 income tax return

By |2019-02-12T16:15:00+00:00February 12th, 2019|Latest News|

The IRS opened the 2018 income tax return filing season on January 28. Even if you typically don’t file until much closer to the April 15 deadline, this year consider filing as soon as you can. Why? You can potentially protect yourself from tax identity theft — and reap other benefits, too. What is tax

Financial statements tell your business’s story, inside and out

By |2019-02-12T16:12:02+00:00February 12th, 2019|Latest News|

Ask many entrepreneurs and small business owners to show you their financial statements and they’ll likely open a laptop and show you their bookkeeping software. Although tracking financial transactions is critical, spreadsheets aren’t financial statements. In short, financial statements are detailed and carefully organized reports about the financial activities and overall position of a business.

Investment interest expense is still deductible, but that doesn’t necessarily mean you’ll benefit

By |2019-01-31T21:15:10+00:00January 31st, 2019|Latest News|

As you likely know by now, the Tax Cuts and Jobs Act (TCJA) reduced or eliminated many deductions for individuals. One itemized deduction the TCJA kept intact is for investment interest expense. This is interest on debt used to buy assets held for investment, such as margin debt used to buy securities. But if you

Refine your strategic plan with SWOT

By |2019-01-31T21:12:50+00:00January 31st, 2019|Latest News|

With the year underway, your business probably has a strategic plan in place for the months ahead. Or maybe you’ve created a general outline but haven’t quite put the finishing touches on it yet. In either case, there’s a time-tested approach to refining your strategic plan that you should consider: a SWOT analysis. Let’s take

Is your business stuck in the mud with its marketing plan?

By |2019-01-31T21:10:55+00:00January 31st, 2019|Latest News|

A good marketing plan should be like a network of well-paved, clearly marked roads shooting out into the world and leading back to your company. But, all too easily, a business can get stuck in the mud while trying to build these thoroughfares, leaving its marketing message ineffective and, well, muddled. Here are a few