For the love of your business
For the love of your business
Beginning with tax year 2018, all partnerships and limited liability companies (LLCs) taxed as partnerships will be affected by a new federal tax audit law. In 2015, the Bipartisan Budget Act repealed the earlier audit system, known as TEFRA, and replaced it with entirely new taxation audit provisions. It is important for those affected by […]
Read MoreIf you are relatively new in business, you may find that one of your biggest challenges is facing the reality that the people in your life aren’t taking your entrepreneurial endeavors seriously. This can show up in a variety of ways which undermine your success, including: Interrupting you when you’re trying to focus on your […]
Read MoreThe inclusion of older employees in the workforce benefits companies, the economy, and the employees themselves. More people are choosing to work later in life, sometimes to delay retirement and boost their Social Security check. Often, however, mature workers choose work as a means to remain engaged and relevant. Contributions of Mature Employees Hiring, training, […]
Read MoreJust last month, the nation’s former largest retailer of sports apparel and equipment filed for Chapter 11 bankruptcy protection. What can small business owners learn from Sports Authority’s failed business plan? After all, if the retail giant that owns the naming rights for Denver’s Mile High Stadium can’t make it, what hope is there for […]
Read MoreA major topic of discussion in the business community is work-life balance. Business owners are concerned about this issue because they do not want quality employees to burn out; employees are concerned about this issue because they want to have meaningful personal lives, as well as purposeful jobs. The younger generations, in particular, actively pursue […]
Read MoreQ: I don’t have enough money to pay my taxes. What happens if I submit my tax return late? — Worried Small Business Owner A: Dear Worried: As an entrepreneur, cash flow can easily impact your ability to pay your taxes on time. Obviously, it is best to avoid that predicament if you […]
Read MoreMost of us have been exposed over the years to discussions in the media around the issue of diversity. The concept is applied to most of the structures of our society — schools, employers, governmental bodies, and so on. For businesses, the interest in diversity stems largely from legal mandates such as the federal Civil […]
Read MoreIf you have a newly incorporated LLC or Corporation, you only have until March 15 to elect S-Corporation status for the 2016 tax year, using IRS Form 2553. This is important because there could be significant tax consequences to you, if you do not elect for S-Corporation status. As the owner of an LLC interest, […]
Read MoreIf you own a business, particularly if it is a new business, you are probably concerned about how to track tax deadlines. Fortunately, the Internal Revenue Service has developed several methods to help with this very problem. First, though, you must know which taxes you are required to pay. Which Taxes? The tax and information […]
Read MoreQ: Can I Claim a Tax Deduction For a Home Business Office? — Prospective Small Business Owner A: As a home-based business owner, you can derive a benefit from a home office in one of two ways: 1) you can complete IRS Form 8829 and deduct part of your mortgage or rental expenses […]
Read MoreAs the Baby Boom generation moves on to retirement and Millennials increase their presence in the consuming world, more companies are including Corporate Social Responsibility (CSR) in their business plans. According to the World Business Council for Sustainable Development, CSR is “a continuing commitment of business to contribute to economic development while improving the quality […]
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