William Rogers Company Blog

Gone to launch! You’ve been thinking of leaving that job and starting your own business for a while now. Or maybe that decision was made for you. In either case, the idea of starting your own business is enticing, the good old American Dream! The question is, are you ready? What’s next? Let’s review that.… Continue reading I’m Hired! Going Entrepreneur

The 2019 Federal Tax Calendar for Business Owners There’s good news in 2019! Yes, you still have to pay your taxes, and paying them on time is a great idea. So, what’s the good news? Paying taxes means your business is making a profit! But there’s a catch. There is a new tax law for… Continue reading Yay, Taxes! When To File Business Taxes in 2019

As if taxes aren’t scary and complicated enough, we now have a brand new tax law to learn. As 2018 comes to a close, there are things you can do to plan for your 2018 taxes and potentially save your business tons of cash and yourself some headaches. Here are 5 tips in preparing for… Continue reading 5 Tips in Preparing For Your 2018 Business Taxes

2018 is fast coming to a close, and the Holiday festivities are already starting to fill up your calendar. You set some aggressive goals for the year and did some much needed strategic and tax planning with your advisors. Crunch time is coming, and there are some things you can do to finish 2018 strong… Continue reading 5 Ways to Finish 2018 with a Bang!

The S corporation business structure offers many advantages, including limited liability for owners and no double taxation (at least at the federal level). But not all businesses are eligible – and, with the new 21% flat income tax rate that now applies to C corporations, S corps may not be quite as attractive as they… Continue reading Assessing the S corp

The Tax Cuts and Jobs Act (TCJA — check out our download on this) liberalized the eligibility rules for using the cash method of accounting, making this method — which is simpler than the accrual method — available to more businesses. Now the IRS has provided procedures a small business taxpayer can use to obtain… Continue reading Choosing the right accounting method for tax purposes

As a business grows, one of many challenges it faces is identifying a competitive yet manageable compensation structure. After all, offer too little and you likely won’t have much success in hiring. Offer too much and you may compromise cash flow and profitability. But the challenge doesn’t end there. Once you have a feasible compensation… Continue reading Contemplating compensation increases and pay for performance

Meal, vehicle and travel expenses are common deductions for businesses. But if you don’t properly document these expenses, you could find your deductions denied by the IRS. A critical requirement Subject to various rules and limits, business meal (generally 50%), vehicle and travel expenses may be deductible, whether you pay for the expenses directly or… Continue reading Business deductions for meal, vehicle and travel expenses: Document, document, document

On one level, every company’s inventory is a carefully curated collection of inanimate objects ready for sale. But, on another, it can be a confounding, slippery and unpredictable creature that can shrink too small or grow too big — despite your best efforts to keep it contained. If your inventory has been getting the better… Continue reading Is your inventory getting the better of you?

You’ve probably heard about the recent U.S. Supreme Court decision allowing state and local governments to impose sales taxes on more out-of-state online sales. The ruling in South Dakota v. Wayfair, Inc. is welcome news for brick-and-mortar retailers, who felt previous rulings gave an unfair advantage to their online competitors. And state and local governments… Continue reading Does your business have to begin collecting sales tax on all out-of-state online sales?