Individual Tax Planning Unlike recent years, in which the tax rules have been fairly stable, 2018 brings extensive changes as a result of a large tax overhaul that passed Congress last December. These changes will affect how your 2018 taxes…
Year-end Tax Planning for Businesses
Business Planning As I’m sure you’re aware, the Tax Cuts and Jobs Act of 2017 (TCJA) was enacted at the end of last year. It’s the largest tax overhaul since the 1986 Tax Reform Act and will affect almost every…
Selling your business? Defer — and possibly reduce — tax with an installment sale
You’ve spent years building your company and now are ready to move on to something else, whether launching a new business, taking advantage of another career opportunity or retiring. Whatever your plans, you want to get the return from your…
A midyear review should go beyond financials
Every year is a journey for a business. You begin with a set of objectives for the months ahead, probably encounter a few bumps along the way and, hopefully, reach your destination with some success and a few lessons learned.…
Factor in state and local taxes when deciding where to live in retirement
Factor in State and Local Taxes When Deciding Where to Live in Retirement Many Americans relocate to another state when they retire. If you’re thinking about such a move, state and local taxes should factor into your decision. Income, property…
3 ways to supercharge your supervisors
3 Ways to Supercharge Your Supervisors The attitudes and behaviors of your people managers play a critical role in your company’s success. When your managers are putting forth their best effort, the more likely it is that you’ll, in turn,…
Could your next business loan get “ratio’d”?
We live and work in an era of big data. Banks are active participants, keeping a keen eye on metrics that help them accurately estimate risk of default. As you look for a loan, try to find out how…
Tax document retention guidelines for small businesses
You may have breathed a sigh of relief after filing your 2017 income tax return (or requesting an extension). But if your office is strewn with reams of paper consisting of years’ worth of tax returns, receipts, canceled checks and…
Tax record retention guidelines for individuals
What 2017 tax records can you toss once you’ve filed your 2017 return? The answer is simple: none. You need to hold on to all of your 2017 tax records for now. But it’s the perfect time to go through…
TCJA changes to employee benefits tax breaks: 4 negatives and a positive
The Tax Cuts and Jobs Act (TCJA) includes many changes that affect tax breaks for employee benefits. Among the changes are four negatives and one positive that will impact not only employees but also the businesses providing the benefits.…