Category: Small Business
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Pension plan design and contribution calculation example
an example of how a one persion annuity pension plan contribution is calculated
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Target benefit annuity plans
how to use a 412(i) target benefit annuity pension plan for a self employed individual
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Adios 2016 business disasters
No doubt 2016 was a tough year for me. Overall my business revenue dropped $17,600 despite my adding new accounting and planning clients at a healthy pace. I easily worked over 4500 hours at three different businesses. This means that my overall gross receipts were under $25 per hour and I had a net business loss…
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Section 18001 of the 21st Century Cures Act (Small Business HRAs)
EXCEPTION FROM GROUP HEALTH PLAN REQUIREMENTS FOR QUALIFIED SMALL EMPLOYER HEALTH REIMBURSEMENT ARRANGEMENTS Section 18001. (Annotated) (a) Amendments To The Internal Revenue Code Of 1986 And The Patient Protection And Affordable Care Act.— (1) IN GENERAL.—Section 9831 (excepted benefits) of the Internal Revenue Code of 1986 is amended by adding at the end the following…
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Five things we know about tax reform in 2017
At this point, of course, there are more unknowns than knowns. But a few points seem clear enough that we can begin using some ideas for our planning purposes. Republican leaders are planning for federal tax reform plan in early 2017 that requires no Democratic support. That means than no compromises will be necessary to pass…
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How I “wowed” a small business accounting client today
I don’t think that small business accountants have many opportunities to “wow” a client. Marketers would probably say I am short-selling myself on this opportunity and that I could find more ways to impress if I really looked for these opportunities. I get it. But the reality is that daily life of a small business…
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Two important small business tax changes for 2017
The good news this year is that the majority small businesses are affected by only two tax changes for the year ahead. Both changes are effective January 1. The first change will increase stress and the risk of automatic tax penalties. The second offers big potential tax savings. It makes sense for small business owners…
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Drive encryption (or file encryption) revisited
I just read a pretty good article written for attorneys recommending drive encryption on laptop PCs and mobile devices. The basis of the recommendation is the assumption that attorneys have sensitive private information on those devices that is at risk when they are working “on the go”. This prompted me to read a few more articles…
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Building a better small business health plan
This 7 1/2 minute, eight slide narrated Powerpoint video presentation introduces the background and steps required to allow a small business to break free from the grip of current health care market turmoil and actually improve employee health benefits immediately.