Consider key person insurance as a succession plan safeguard

In business, and in life, among the most important ways to manage risk is through insurance. For certain types of companies — particularly start-ups and small businesses — one major threat is the sudden loss of an owner or hard-to-replace employee. To safeguard against this risk, insurers offer key person insurance.

The Section 1031 exchange: Why it’s such a great tax planning tool

  Like many business owners, you might also own highly appreciated business or investment real estate. Fortunately, there’s an effective tax planning strategy at your disposal: the Section 1031 “like kind” exchange. It can help you defer capital gains tax on appreciated property indefinitely.

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Categorized as Taxes

Listen and trust: The power of collaborative management

  Many business owners are accustomed to running the whole show. But as your company grows, you’ll likely be better off sharing responsibility for major decisions. Whether you’ve recruited experienced managers or developed “home grown” talent, you can empower these employees by taking a more collaborative approach to management.

If Robots Replace People, Should They Be Paying Taxes?

by William E. Rogers MBA, CFP, EA The capability of artificial intelligence has reached a point that it is no longer a question of if robots will replace people, but a matter of when. Highly automated factory floors, driverless cars, and computerized medical diagnoses all exist today. In the not too distant future it is… Continue reading If Robots Replace People, Should They Be Paying Taxes?

Can I Claim My Airbnb Rental as a Hotel?

by William E. Rogers MBA, CFP, EA Vacation rentals are nothing new. For centuries travelers have opted to stay in private residences over hotels for a variety of reasons. It’s quite common here in Southern California with the lure of our local beaches and mountains for property owners to rent out their properties on a… Continue reading Can I Claim My Airbnb Rental as a Hotel?

A BORDER #$@&% TAX!

By William E. Rogers MBA, CFP, EA Over the past few weeks, I’ve had numerous clients ask me about how they might be impacted by the border adjustment tax. In fact, so many have expressed concern that they’re already seeking advice on how to avoid being impacted, even though nothing has been enacted into law.… Continue reading A BORDER #$@&% TAX!

PTO banks: A smart HR solution for many companies

  “I’m taking a sick day!” This familiar refrain usually is uttered with just cause, but not always. What if there were no sick days? No, we’re not suggesting employees be forced to work when they’re under the weather. Rather, many businesses are adopting a different paradigm when it comes to paid time off (PTO).

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Categorized as Taxes

The “manufacturers’ deduction” isn’t just for manufacturers

  The Section 199 deduction is intended to encourage domestic manufacturing. In fact, it’s often referred to as the “manufacturers’ deduction.” But this potentially valuable tax break can be used by many other types of businesses besides manufacturing companies.

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Categorized as Taxes

Is your business committed to its cost-control regimen?

  At the beginning of the year, many people decide they’re going to get in the best shape of their lives. Similarly, many business owners declare that they intend to cut costs and operate at peak efficiency going forward.

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Categorized as Taxes