Month: March 2016

Focus on Your Profit Centers

It can be a hard choice to make, but successful companies often have to make strategic decisions to “fix it or exit.” In other words, every element of a business must earn its keep, be fixed or let go. Companies must have a growth and profitability mentality that prompts them to maintain their winning profit centers and […]

Posted In: Business

Is the Sales Tax Bandit Winning?

Using the QuickBooks® sales tax feature will help automate the calculation, collection and payment of sales tax. To set up QuickBooks to calculate and pay sales tax correctly, make the appropriate selections under the Sales Tax Preferences menu. Based on the rules in your state, be sure to make the appropriate selections for Cash versus Accrual […]

Posted In: Quickbooks

Green Tax Breaks for Individuals

Some lucrative federal income tax credits for certain energy-efficient home improvements were extended recently. The extensions were part of the Protecting Americans from Tax Hikes Act of 2015 (the PATH Act), which became law on December 18, 2015. Here’s what you need to know to cash in on these tax breaks. Credits for Green Vehicles If […]

Posted In: Tax Advisor, Tax Deductions, Tax Filing

A Brave New World in Lease Accounting

Many companies choose to lease certain assets, rather than buy them outright. Leasing arrangements are especially common among construction contractors, manufacturers, retailers, health care providers, airlines and trucking companies that rely on expensive equipment or real estate in their day-to-day operations. FASB Chair Golden Speaks Out Here’s what Financial Accounting Standards Board (FASB) Chair Russell Golden […]

Posted In: Business

Could Your Business Benefit from the Work Opportunity Tax Credit?

If you plan to hire new employees this year, you’re not alone. Employment statistics ended 2015 on a positive note. In addition, roughly 242,000 new jobs were added in February and the unemployment rate fell to 4.9%, its lowest level in eight years. Several recent studies indicate that the hiring momentum will continue in 2016. Hiring new […]

Posted In: Tax Advisor, Tax Deductions, Tax Filing

Stay on Top of Your Business Credit Rating

These days, anyone looking to form a new business relationship — especially one that involves credit — is wise to check out the risk involved first. After all, we know that even giant companies that once seemed untouchable, like Lehman Brothers and General Motors, may be teetering on too narrow a pedestal. With that in mind, various parties might […]

Posted In: Business

What to Do with Impossible Employees? Clean House

When psychiatrist Mark Goulston asked several successful CEOs to name the single most important key to their success, he expected them to refer to their “vision” or their “mission.” But, independent of one another, the CEOs advised: Recognize destructive no-win people inside and outside your workplace early. Then cut your losses and move on. According to the […]

Posted In: Business, Employees

Consider Hosting a Family Meeting about Your Estate Plan

If you’re a business owner and a high-net-worth individual, you may want to gather your family members together to discuss the details of your estate plan. This can be especially important if you own a business that employs family members. These meetings are a little like the Scottish clan gatherings held hundreds of years ago by […]

Posted In: Personal Information

Five Last-Minute Moves to Lower Your 2015 Tax Bill

Tax Day is right around the corner. Have you filed your federal tax return yet? The filing deadline to submit 2015 individual federal income tax returns is Monday, April 18, 2016, rather than the traditional April 15 date. Washington, D.C., will celebrate Emancipation Day on Friday, April 15, which pushes the deadline to the following Monday […]

Posted In: Tax Advisor, Tax Deductions, Tax Filing

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