Taking costs out of a business can be deceptively easy to do — at least initially. Cutting low-hanging fruit such as providing coffee in break rooms, consulting services, laying off temporary employees or removing a layer of management can result in considerable savings. However, these savings are often not...
As you choose a type of investment to make, your options will fall in either the taxable or tax-free bucket. With taxable investments, any income is subject to federal and state taxes. An exception would be US obligations, like Treasury Bonds, whose income is tax exempt at the state...
Your company is your foundation, your livelihood. Whether you have built your company up from the ground or started work for an established entity, it is important to protect what is yours. Business computers are attacked every day, networks are invaded, and these assaults are devastating. It takes investment,...
Paying your company debts is just as important as collecting your own accounts receivable and they need just as much management. The good thing is, you actually have a surprising amount of control over how and when your company’s debts are paid and that provides several advantages.
The day before the President’s State of the Union address, the White House released a “fact sheet” on what they call his “proposed reforms for a simpler, fairer tax code”. Are these proposals really intended to make the code simpler? Are they really fair?
If you haven’t heard of the “DPAD” you might just be missing out on a promising tax deduction. It’s called the Domestic Production Activities Deduction (DPAD) and benefits owners of businesses that engage in any of the following activities:
In today’s tough economy, the availability of business credit remains tight. Financial institutions are cautious and highly skeptical of new lending requests. In addition to increased scrutiny regarding new relationships, bankers are also increasingly turning their focus to existing customers. With little or no notice, lenders are closing business...
I’m considered an anomaly. I’ve been with my firm since I was a staff accountant. That’s almost 25 years. Research indicates that employees today average 5 years at any given job. Given that stat it’s been calculated that most people now will change their careers 9 to 17 times....
Social Security benefits are in the news as its funding and longevity has come into question. If you are depending on social security, you may need to look into other options to help fund your retirement and give you the lifestyle you’ve planned on.
There is a brand new tax incentive available for charitable contributions. It’s been affectionately termed the “Triple Play” and is available for gifts of $500 or more made to community foundations in Maryland during 2015.
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