DOs and DON’Ts to help protect your business expense deductions
June 25, 2025 | Brian Hare, CPA, CGMA
How to help protect your business expense deductions and to stand up to an IRS inspection.
Read MoreTax-wise Ways to Reimburse Employee Travel Expenses
June 17, 2017 | Brian Hare, CPA, CGMA
If your employees incur work-related travel expenses, you can better attract and retain the best talent by reimbursing these expenses. But to secure tax-advantaged treatment for your business and your employees, it’s critical to comply with IRS rules. Here are some tax-wise ways to reimburse employee travel expenses. Reasons to reimburse While unreimbursed work-related travel […]
Save on Business & Personal Taxes: Hire Your Children
June 15, 2017 | Brian Hare, CPA, CGMA
It can be difficult in the current job market for students and recent graduates to find summer or full-time jobs. If you’re a business owner with children in this situation, you may be able to provide them with valuable experience and income while generating tax savings for both your business and your family overall. Save […]
Help your Child or Grandchild Buy a Home
June 12, 2017 | Paula Kennedy, EA
Mortgage interest rates are still at low levels, but they likely will increase as the Fed continues to raise rates. So if you’ve been thinking about helping your child — or grandchild — buy a home, consider acting soon. There also are some favorable tax factors that will help: 0% capital gains rate. If the […]
Tax Consequences of Partnerships
June 10, 2017 | Brian Hare, CPA, CGMA
In today’s competitive environment, offering employees an equity interest in your business can be a powerful tool for attracting, retaining and motivating quality talent. If your business is organized as a partnership, there are tax consequences to consider. Once an employee becomes a partner, you generally can no longer treat him or her as an employee […]
What Business Owners Should Know About IRS Audits
June 9, 2017 | Brian Hare, CPA, CGMA
If you recently filed for your 2016 income tax return (rather than filing for an extension) you may now be wondering whether it’s likely that your business could be audited by the IRS based on your filing. Here’s what every business owner should know about an IRS Audit: Catching the IRS’s eye Many business audits occur […]
Contractors: Protect Your Business
June 7, 2017 | Janet Kanan, EA
One missing document can become very costly for Contractors. Here are 5 tips to protect your business and save you money. 1.Your Subcontractor’s Work Comp Exemption Cert is not Enough Many contractors think if their subcontractor provides them a Workers’ Compensation Exemption Certificate that they are covered. If an individual is hurt on your […]
A “Back-door” Roth IRA can Benefit Higher Income Tax-Payers
June 7, 2017 | Paula Kennedy, EA
A potential downside of tax-deferred saving through a traditional retirement plan is that you’ll have to pay taxes when you make withdrawals at retirement. Roth plans, on the other hand, allow tax-free distributions; the trade-off is that contributions to these plans don’t reduce your current-year taxable income. Unfortunately, your employer might not offer a Roth […]
Creating a Strategic IT Plan
June 5, 2017 | Brian Hare, CPA, CGMA
Many companies take an ad hoc approach to technology. If you’re among them, it’s understandable; you probably had to automate some tasks before others, your tech needs have likely evolved over time, and technology itself is always changing. It may be time for you to create a strategic IT plan. Unfortunately, all of your different […]
Concentration Risks in your Supply Chain
June 2, 2017 | Brian Hare, CPA, CGMA
Concentration risks are a threat to your supply chain. These occur when a company relies on a customer or supplier for 10% or more of its revenue or materials, or on several customers or suppliers located in the same geographic region. If a key customer or supplier experiences turmoil, the repercussions travel up or down […]
3 Hot Spots to Look for your Successor
May 29, 2017 | Brian Hare, CPA, CGMA
Picking someone to lead your company after you step down is probably among the hardest aspects of retiring (or otherwise moving on). Sure, there are some business owners who have a ready-made successor waiting in the wings at a moment’s notice. But many have a few viable candidates to consider — others have too few. […]