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Relevant Topics That Matter in Business and Life

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.

Posted on February 1, 2017 in 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.

Posted on January 26, 2017 in Taxes

New HRA offers small employers an attractive, tax-advantaged health care option

  In December, Congress passed the 21st Century Cures Act. The long and complex bill covers a broad range of health care topics, but of particular interest to some businesses should be the Health Reimbursement Arrangement (HRA) provision. Specifically, qualified small employers can now use HRAs to reimburse employees who purchase individual insurance coverage, rather… Continue reading New HRA offers small employers an attractive, tax-advantaged health care option

Posted on January 9, 2017 in Taxes

Considering a spinoff? Think it through

In popular culture, the word “spinoff” usually refers to a television show whose main characters originated from an already established show. But the word applies to the business world, too. Here it describes a division or subsidiary of a company being sold off to a buyer as a separate entity.

Posted on December 29, 2016 in Taxes

How entity type affects tax planning for owner-employees

Come tax time, owner-employees face a variety of distinctive tax planning challenges, depending on whether their business is structured as a partnership, limited liability company (LLC) or corporation. Whether you’re thinking about your 2016 filing or planning for 2017, it’s important to be aware of the challenges that apply to your particular situation.

Posted on December 28, 2016 in Taxes

Your company’s balance sheet makes great reading this time of year

  Year end is just about here. You know what that means, right? It’s a great time to settle in by a roaring fire and catch up on reading … your company’s financial statements. One chapter worth a careful perusal is the balance sheet. Therein may lie some important lessons.

Posted on December 15, 2016 in Taxes

Setting sail into the global marketplace

  For many of today’s companies, going global seems like a quick and trouble-free growth strategy. Technological advances and expansive supply chains make doing so easier than ever. But business owners who make this move impetuously may soon find themselves on stormy seas, taking on waves of debt and unanticipated expenses.

Posted on November 23, 2016 in Taxes

Mentoring can make your succession plan better

  The owners of many companies launch their enterprises with a business plan — a written document outlining the company’s strategic objectives and practical means of accomplishing them. Likewise, many owners leave their businesses via a succession plan, a written document outlining how the company’s ownership will transition.

Posted on November 3, 2016 in Taxes