New Rules for Taxes on Pass-Through Entities In a prior post, we discussed how the new tax law reduces taxes for pass-through entities (subchapter S corporations, LLCs, partnerships, and sole proprietors). Under the 2017 TCJA, some pass-through entities received a…
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SEP Retirement Account Can Lower Business Owners Taxes
SEP: A Terrific Tool to Increase Retirement Savings and Minimize Taxes Self-employed business owners can reduce their taxes and greatly increase retirement savings with a Simplified Employee Pension (SEP) IRA. These plans are one of the best retirement plans available…
Is your company ready for the new rule on leases?
Accounting Rules Changing for Business Leases The Financial Accounting Standards Board (FASB) has announced new rules for how companies must account for their corporate leases. Under Old Rules, FASB Treated Some Leases Differently Under FASB’s old standard, the rules only…
Accounting Options for Growing Companies
Growing Companies Must Manage Cash Flow and Internal Controls If you run a rapidly growing company, you confront a host of challenges from financing your growth, to managing operations, to finding the right staff, etc. etc. Most growing firms really…
Posted in Small Business Accounting Tips
New 2018 Business Tax Changes with the TCJA
The new Tax Cut and Job Act (TCJA) changes several business tax regulations. Below are some of the most significant business tax changes under the TCJA. These changes will affect business activities after Dec 31, 2017, unless noted otherwise. #1.…
Tax Strategies for Pass-Through Entities in 2018
Reducing Taxes for Small Business Owners The new tax reform legislation passed by Congress in Dec 2017 provides a special tax treatment for pass-through companies (subchapter S corporations, LLCs, partnerships, and sole proprietors). The IRS refers to these entities as…
Tagged with: small business taxes, tax deductions
Posted in General Tax Tips & News, Small Business Accounting Tips
Posted in General Tax Tips & News, Small Business Accounting Tips
Getting a Small Business Ready to Sell
If you plan to sell your business someday, think about getting it ready to sell long before you approach a buyer. People typically fix their homes prior to putting them on the market and clean their cars prior to the…
Posted in Small Business Accounting Tips
Planning Your Small Business Exit Strategy
Tips on Planning for a Profitable Small Business Exit How to get the most out of your business when you want to retire. At some point, most small business owners start thinking about retiring from their business. One key dilemma…
Posted in Small Business Accounting Tips
5 Ways to Fund Business Growth for Your Small Business
The Conference Board projects that the US economy will grow slightly faster in 2018. With this projected growth on top of the economy’s good performance in 2017, the business sector has finally vanquished the after-effects of the great 2008 recession.…
Posted in Small Business Accounting Tips
What Net Payment Terms Are Best to Use for Your Business?
You are about to land a major new client. Now it is time to negotiate the final contract. It is important to define your payment terms at this stage, but what terms are best for you? Most companies, especially if…