by Brian Hare, CPA, CGMA | Mar 2, 2022 | Tax
Do you want to withdraw cash from your closely held corporation at a minimum tax cost? The simplest way is to distribute cash as dividends. However, dividends distribution isn’t tax-efficient since it’s taxable to you to the extent of your corporation’s “earnings and...
by Brian Hare, CPA, CGMA | Mar 2, 2022 | Business
Common sense dictates that every company, no matter how small, should carry various forms of business insurance. But that doesn’t mean you should pay unnecessarily high premiums just to retain the coverage you need. Here are five ways to better control your insurance...
by Brian Hare, CPA, CGMA | Mar 1, 2022 | Business
Under just about any circumstances, the word “leakage” has negative connotations. And so it follows that this indeed holds true for retirement planning as well. In this context, leakage refers to early, pre-retirement withdrawals from an account. Now, as a business...
by Brian Hare, CPA, CGMA | Feb 9, 2022 | Business
Economic changes wrought by the COVID-19 pandemic, along with other factors, drove historic global mergers and acquisitions (M&A) activity in 2021. Experts expect 2022 to be another busy year for turnaround acquisitions. In many cases, M&A opportunities arise...
by Brian Hare, CPA, CGMA | Feb 8, 2022 | Tax
If you’re in business for yourself as a sole proprietor, or you’re planning to start a business, you need to know about the tax aspects of your venture. Here are eight important issues to consider: 1. You report income and expenses on Schedule C of Form 1040. The net...
