Category: Small Business
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Want to pay less tax? Start with a review of your last return
Effective tax reduction strategies start with a review of you last filed tax return. There are at least three types of tax return reviews: 1) a high level review “Does it make sense given the facts?”, 2) a micro-level review “Did I miss anything or transpose any digits?”. and 3) a tax planning review (How…
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Small business action plan to profit from tax reform
We can now begin to make a reasonable forecast of the eventual form of U.S. tax law and, even with the list of uncertain issues, ask what it means to each of us. For me and my small business practice, this is how it plays out: Winners Tax and business advisers Rental real estate owners…
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Business Planning for 2018
As we begin this month of December 2017, it now seems clear that business taxes will be substantially different and more complicated in 2018. We can also be safe in saying that, for most businesses, nothing else will have as much impact on the net financial results of the business as this change in tax…
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Say thanks more often in business
The excerpt below comes from a post on social media by a business mentor. I realize that I don’t say thanks often enough. It’s not that I’m not appreciative but rather that I’m not communicative enough on things that I consider emotional or fluffy. In other words, for me it’s a ‘guy thing’. This works…
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Tax Cuts And Jobs Act: simply a bad idea for our nation
The Organization for Economic Cooperation and Development (OECD) is a unique forum where the governments of 34 democracies with market economies work with each other, as well as with more than 70 non-member economies to promote economic growth, prosperity, and sustainable development. It’s latest report shows the underlying fallacies of the current U.S. tax reform…
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Why Use QuickBooks Online?
Occasionally I am asked why I use and endorse QuickBooks Online small business accounting platform. There are at least six ways to answer that question: Market share. QuickBooks. is the #1 most popular platform used by 4.3 million small businesses. There is strength in numbers. Support resources and integrations are limitless. It isn’t what you…
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Exit planning for your small business
Advance planning for the day when you no longer run your small business can make a big difference to you, your family and your clients.
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How to save money on workers compensation insurance costs
Three primary and effective strategies are available to help small business owners reduce the cost of workers compensation insurance: Qualify for an exemption from coverage Qualify employees for a better rating category Arrange employee benefits to be specifically excluded from taxable wages. (This strategy reduces both wage taxes and workers compensation insurance costs). The details…
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Odd experience with employee benefit documents
Over the years I’ve collected sample employee benefit documents from former employers, the IRS, insurance and investment companies, members of Employee Benefits Institute of America Inc., and my own clients. They’ve been loaned back and forth and changed, mashed, updated and reviewed many times. They used to be posted in an online library but I don’t…