4 tough questions to ask before expanding to a new location

Is business going so well that you’re thinking about adding another location? If this is the case, congratulations! But before you start planning the ribbon-cutting ceremony, take a step back and ask yourself some tough questions about whether a new location will grow your company — or stretch it too thin. Here are four to… Continue reading 4 tough questions to ask before expanding to a new location

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ESOPs offer businesses tax and other benefits

With an employee stock ownership plan (ESOP), employee participants take part ownership of the business through a retirement savings arrangement. Meanwhile, the business and its existing owner(s) can benefit from some potential tax breaks, an extra-motivated workforce and potentially a smoother path for succession planning. How ESOPs workTo implement an ESOP, you establish a trust… Continue reading ESOPs offer businesses tax and other benefits

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What Are the Tax Implications of Making an Employee into a Partner?

  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. But what are the tax implications of making an employee into a partner? If your business is organized as a partnership, however, there are some tax traps you should watch out… Continue reading What Are the Tax Implications of Making an Employee into a Partner?

Hire Your Children to Save Taxes for Your Business and Your Family

  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.

Bartering May Be Cash Free But It’s not Tax-Free

Bartering may be cash-free, but it’s not tax-free. Businesses must report as income the fair market value of the products or services received. If there are business expenses associated with the transaction, those can be deducted. Any income arising from a bartering arrangement is generally taxable in the year you receive the bartered product or… Continue reading Bartering May Be Cash Free But It’s not Tax-Free

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What Are the Tax Advantages of Employee Education Reimbursement?

  Reimbursing employees for education expenses can both strengthen the capabilities of your staff and help you retain them. In addition, you and your employees may be able to save valuable tax dollars. But you have to follow IRS rules. Here are a couple of options for maximizing tax savings.

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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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