Work Opportunity Tax Credit WOTC: What Business Owners Need to Know
The Work Opportunity tax credit (WOTC) is a federal income tax credit that's available to businesses that hire members of certain "targeted" groups. Here's how your business may be able to benefit from this potentially Read More
Oct 12, 2017
It’s Risky to Rely on Unofficial IRS Guidance
In a recent blog, National Taxpayer Advocate Nina Olson explained why taxpayers can't rely on answers to Frequently Asked Questions (FAQs) and Answers and other forms of "unofficial" guidance that are posted on the IRS Read More
Sep 25, 2017
Attracting and Keeping Customers Requires Repetitive Contacts
When a farmer grows crops, much time and tender loving care are required to ensure a successful harvest. When you meet with potential customers, it is unreasonable to expect that they are going to stop Read More
Sep 25, 2017
Real Estate Investors: Let’s Talk about Like-Kind Exchanges
Are you thinking about divesting a real estate investment and then replacing it with another property? If you sell appreciated property outright, you'll incur a taxable gain, which lowers the amount available to spend on the Read More
Sep 02, 2017
Planned Giving Holds Tremendous Benefits for Not for Profits
Is your Non for Profit organization pursuing planned giving? It should be. Research suggests that the average planned gift in the United States falls between $35,000 and $70,000 -- and the amount may increase with Read More
Jul 28, 2017
Business Expenses Personal or Deductible? Don’t Get Caught
To be deductible, business expenses must be both ordinary and necessary. An ordinary expense is one that is common and accepted in your field of business. A necessary expense is one that's helpful and appropriate Read More
Jun 12, 2017
Can You Monitor Employee Communications
Employers have many reasons to monitor employee communications from time to time to keep you out of legal trouble or to protect the integrity of your business. For example, if any kind of illegal discrimination Read More
Jun 02, 2017
When Can You Purge Your Old Financial Records
Feeling the urge to purge? April 18, 2017, is the deadline for individuals and C corporations to file their federal income tax returns for 2016 (or to file for an extension). Before you clear your Read More
Apr 18, 2017
Keep Your Donor Database Clean
This is one of those Believe It or Not stories: Years ago, a charity generated solicitation letters from a computerized donor database. One letter addressed to a state Humane Society stated: "Dear Miss Society." Whoops! Read More
Mar 23, 2017
There’s Still Time to Set Up a SEP for 2016
Simplified Employee Pensions (SEPs) are stripped-down retirement plans intended for self-employed individuals and small businesses. If you don't already have a tax-favored retirement plan set up for your business, consider establishing a SEP — plus, Read More
Mar 21, 2017