As a business owner, you should familiarize yourself with your federal, state, and local tax requirements. Understanding what your obligations are will assist you in filing returns and paying taxes accurately and on time. Whatever taxes you are required to pay, you have to be very aware that there are deadlines for remitting them and […]
Tips on Tax Planning
You may not think about taxes often, but they can prove to be a large expense. That’s why it’s important to make the most of any opportunities you may have to lower your tax liability. Here’s a look at some of the factors you may want to consider in your planning. Standard Deduction or Itemizing […]
Five Steps to Keeping Employees Motivated
Motivated employees typically perform at a higher level than employees who are disengaged from their work. They are willing to go beyond their job description to see a project through to completion. Very often, their enthusiasm inspires and pushes coworkers to excel. Certain strategies can help foster a culture of motivation and enthusiasm within the […]
7 Tax Credits for Your Small Business
Let’s talk about tax credits – what they are, how they differ from deductions, and which can benefit your small business. What are tax credits? A tax credit is a dollar-for-dollar reduction of one’s tax liability, reducing the amount of tax owed. So, a tax credit of $300 lowers your bill by $300. Tax deductions […]
Choosing a Retirement Plan That Maximizes Benefits for Owners and Key Employees
With the various restrictions and limitations on retirement plan contributions and benefits, small business owners and professionals may wonder whether it is possible to fund adequate retirement benefits for themselves using a tax-qualified plan. In many cases, it is — if the most appropriate plan design is chosen. Why So Many Restrictions? Many of the […]
Is a Living Trust Right for You?
You may have seen advertisements touting the creation of a revocable living trust as a good way to avoid probate. And for some people it is. However, it may not be appropriate for everyone or for every situation. Probate is a court-supervised proceeding that can be time consuming and expensive. That’s why a big advantage […]