Milestone moments: How age affects certain tax provisions
July 9, 2025 | Kaitria LaFleure
Age affects certain tax provisions. If you have reached any of these milestone ages you should know the tax consequences.
Read MoreThe “kiddie tax” hurts families more than ever
August 22, 2019 | Brian Hare, CPA, CGMA
Years ago, Congress enacted the “kiddie tax” rules to prevent parents and grandparents in high tax brackets from shifting income (especially from investments) to children in lower tax brackets. And while the tax caused some families pain in the past, it has gotten worse today. That’s because the Tax Cuts and Jobs Act (TCJA) made […]
Take a closer look at home office deductions
August 8, 2019 | Brian Hare, CPA, CGMA
Working from home has its perks. Not only can you skip the commute, but you also might be eligible to deduct home office expenses on your tax return. Deductions for these expenses can save you a bundle, if you meet the tax law qualifications. Under the Tax Cuts and Jobs Act, employees can no longer claim the […]
Long-term approach to insurance documentation
August 8, 2019 | Brian Hare, CPA, CGMA
After insurance policies expire, many businesses just throw away the paper copies and delete the digital files. But you may need to produce evidence of certain kinds of insurance even after the coverage period has expired. For this reason, it’s best to take a long-term approach to certain types of policies. Occurrence-based insurance Generally, the […]
Businesses can utilize the info IRS auditors use
July 25, 2019 | Brian Hare, CPA, CGMA
The IRS uses Audit Techniques Guides (ATGs) to help IRS examiners get ready for audits. Your business can use the same guides to gain insight into what the IRS is looking for in terms of compliance with tax laws and regulations. Many ATGs target specific industries or businesses, such as construction, aerospace, art galleries, child […]
“Nanny Tax” must be paid for more than just nannies
July 25, 2019 | Brian Hare, CPA, CGMA
You may have heard of the “nanny tax.” But even if you don’t employ a nanny, it may apply to you. Hiring a housekeeper, gardener or other household employee (who isn’t an independent contractor) may make you liable for federal income and other taxes. You may also have state tax obligations. If you employ a […]
Run your strategic-planning meetings like they matter
July 25, 2019 | Brian Hare, CPA, CGMA
Many businesses struggle to turn abstract strategic-planning ideas into concrete, actionable plans. One reason why is simple: ineffective meetings. The ideas are there, lurking in the minds of management and key employees, but the process for hashing them out just doesn’t work. Here are a few ways to run your strategic-planning meetings like they really […]
It’s a good time to buy business equipment
July 25, 2019 | Brian Hare, CPA, CGMA
There’s good news about the Section 179 depreciation deduction for business property. The election has long provided a tax windfall to businesses, enabling them to claim immediate deductions for qualified assets, instead of taking depreciation deductions over time. And it was increased and expanded by the Tax Cuts and Jobs Act (TCJA). Even better, the […]
Summer: A good time to review your investments
July 25, 2019 | Brian Hare, CPA, CGMA
You may have heard about a proposal in Washington to cut the taxes paid on investments by indexing capital gains to inflation. Under the proposal, the purchase price of assets would be adjusted so that no tax is paid on the appreciation due to inflation. While the fate of such a proposal is unknown, the […]
The 1-2-3 of Business 2 Business marketing plans
July 25, 2019 | Brian Hare, CPA, CGMA
Does your business market its products or services to other companies? Or might it start doing so in the future? If so, it’s critical to recognize the key differences between marketing to the public — or even certain segments of the public — and business-to-business (B2B) marketing. Whereas wide-scale marketing campaigns generally need to be […]
M&A transactions: Avoid surprises from the IRS
July 24, 2019 | Brian Hare, CPA, CGMA
If you’re considering buying or selling a business — or you’re in the process of a merger or acquisition — it’s important that both parties report the transaction to the IRS in the same way. Otherwise, you may increase your chances of being audited. If a sale involves business assets (as opposed to stock or […]