And the adventure continues! I’ve been sharing some ideas about how entrepreneurs can streamline their businesses and I hope you’ve gotten a lot of insight so far. Let’s talk about lead acquisition a little bit. Most entrepreneurs and business owners look at lead acquisition only in terms of marketing. The Read more…
If you or a well-off relative are facing the gift and estate tax, here’s a planning opportunity often overlooked: pay tuition and medical expenses for loved ones. Such payments, structured correctly, do not represent gifts. The monies spent by you on the qualified medical and tuition payments reduce your net Read more…
You or your spouse may have the opportunity to obtain non-qualified stock options. Or you may have your corporation issue non-qualified stock options to its employees and independent contractors. In both cases, you will want to know how these options work. When you exercise a non-qualified stock option, the bargain Read more…
A few weeks ago, I had a conversation with a client who was exploring the various options for using the equity in his home as a way to pay down some other debts. He and his wife had done their research for sure, and they had settled on the Home Read more…
Since I sent out last Tuesday’s blog, I can’t tell you how many messages I’ve gotten from readers and clients about why a CPA would want to discuss seemingly “internal” systems related to my clients’ businesses. Simple – we both want the same thing – your business to be more Read more…
Giving to your church, school, or other 501(c)(3) charity is a noble act no matter how you choose to give. But for the purposes of tax savings, some forms of giving are much more beneficial to you than others. As a business owner, you can use some business strategies to Read more…
If you have employees who travel for your business, would the IRS travel per diem method simplify your recordkeeping and reduce your risk of audit disallowance? The per diem travel reimbursement meets the proof of expense requirements for an accountable plan. This removes audit-disallowance risk and also makes travel reimbursement Read more…
Now that the tax season is nearly in full swing, especially for individuals who work for other companies and have relatively “simple” W-2 based returns, we’re hearing a lot of things from clients. Things like how their tax refunds are going to be used to pay down credit card bills Read more…
I hope you’re having a fantastic first quarter so far (and have managed to keep your Resolutions this far into the New Year) but I have to ask you: What are you doing to make your business easier for you? Now, “easy” is a relative term for a lot of Read more…
Unless you’ve recently immigrated, chances are, you know in the United States, taxes are due to be filed no later than April 15th. Now, of course there’s a whole lot of places that excuses and extensions can be used and filed, but, for the vast majority of business owners, you’ll Read more…