For the love of your business

Articles to LIFT Your Life and Business

Proposed Tax Laws Impact on Business Taxation and Estate Planning—Part 1

On September 13, 2021, Democrats in the House of Representatives released a new $3.5 trillion proposed spending plan that includes a wide array of changes to federal tax laws. Specifically, the Democrats have proposed a number of significant tax increases and other changes to fund the plan, including increases to personal income tax rates and […]

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The Big-Time Benefits Of Hiring Your Kids

One of the biggest benefits of running a family business is being able to employ your minor children. By hiring your kids, you have the opportunity to teach them the value of hard work, give them experience managing money, and support them to save for their future. In return, you get employees who have a […]

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How to Maximize Your Startup Cost Deductions

Coming up with a solid concept for a new business and working to get your operation off the ground can be an expensive undertaking. But the good news is that you can write off a number of the expenses involved with the startup process. That said, the rules for deducting startup expenses are a bit […]

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4 Factors To Consider When Choosing a Business Entity—Part 2

When starting a business, you have to make a ton of different decisions. From deciding what to name your company to hire employees, getting your business off the ground comes with a nearly endless number of decisions. Of all these decisions, perhaps none is more important or has a more significant impact on your success […]

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4 Factors To Consider When Choosing a Business Entity—Part 1

When starting a business, you have to make a ton of decisions. Deciding what to name your company and hiring employees, what kind of products or services you should sell, and how to fund your operation, getting your business off the ground comes with a nearly endless number of decisions. Of all these decisions, perhaps […]

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New Rules For Deducting Meal and Entertainment Expenses

Taking your clients out to dinner or to a sporting event can be a great way to get to know the people with whom you are doing business and help you develop a closer relationship. Plus, business-related meals and entertainment can be a legitimate business expense (with some exceptions) that you can deduct from your […]

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Thinking About Starting a Nonprofit? Here’s What You Should Know—Part 2

Starting a nonprofit organization can be a great way to give back to your community, while working for a cause you are passionate about. That said, if you are starting a nonprofit simply to avoid some of the more unsavory aspects of running a business, you should seriously reconsider. As the founder of a nonprofit, […]

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5 Ways to Significantly Reduce Your Tax Bill For 2020—Part 2

With the government shutdowns and economic fallout from the pandemic, 2020 was a rough year for many businesses. But thanks to recent legislation aimed at helping business owners recover, you could see a silver lining in the form of significant tax-saving opportunities when you file your annual tax return this spring. First up, although it’s […]

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5 Ways to Significantly Reduce Your Tax Bill For 2020—Part 1

With the government shutdowns and economic fallout from the pandemic, 2020 was a rough year for many businesses. But thanks to recent legislation aimed at helping business owners recover from the pandemic, you could see a silver lining in the form of significant tax-saving opportunities when you file your annual tax return this April. First […]

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New COVID Stimulus Funding Available For Business Owners in 2021—Part 2

The Consolidated Appropriations Act 2021, which was signed into law on December 27th, 2020, provides another $900 billion in funding for coronavirus relief for individuals and business owners. The new bill serves as an expansion of the 2020 CARES Act, offering additional funding and a number of key changes to both the Paycheck Protection Program […]

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New COVID Stimulus Funding Available For Business Owners in 2021—Part 1

The Consolidated Appropriations Act 2021, which was signed into law on December 27th, 2020, provides another $900 billion in funding for coronavirus relief for individuals and business owners. The new bill serves as an expansion of the 2020 CARES Act, offering additional funding and a number of key changes to both the Paycheck Protection Program […]

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