$1 million in available tax credits will be released and become available on a first come first served basis. Historically, these credits will go fast so you should submit your application as soon as possible but no later than July 7th. The Endow Kentucky Tax Credit allows Kentucky income taxpayers (individuals and businesses) to receive […]

The type of business entity for your business has many implications, including the amount of your tax bill. The most common business structures are sole proprietorships, partnerships, limited liability companies, C corporations and S corporations. Here are four considerations: In some cases, a business may decide to switch from one entity type to another. Although […]

In the ever evolving landscape of customer engagement businesses have been challenged with the sluggishness of traditional feedback methods. There’s now a much faster way of dialoguing with customers and prospects called “conversational marketing.” Maybe you sent out a customer survey and waited weeks or months to gather the data. Or perhaps you launched a […]

Imagine you own one or more vacant lots that have substantially appreciated in value, and you’re ready to sell. Alternatively, you have a parcel of appreciated land and want to subdivide, develop, and then sell off for a big profit. Either way, you’ll incur a tax bill. For purposes of these examples, let’s assume that […]

Following a downturn in 2023, merger and acquisition activity are bouncing back in 2024. If you’re buying a business, you want the best after tax results. You can potentially structure the purchase in two ways: Buy the assets of the business, or Buy the seller’s entity ownership interest if the target business is operated as […]

Cyberattacks are on the rise as technology has a become an integral part to every business. Protecting against cyberattacks are no longer a matter of if it will happen, but when will it happen. What is your business doing to protect itself when it does? A 2023 study by U.K.-based software and hardware company Sophos […]

If you plan on making a donation to charity the IRS may need certain requirements to be met in order to deduct the donation on your tax return. How can you protect your deduction? First, be aware that in order to deduct charitable donations, you must itemize deductions. Due to today’s relatively high standard deduction […]

If you have a closely held C Corporation and are in need of capital then it is important to note that including debt in the corporation’s capital structure can have advantages when it comes time to pay taxes. Tax rate considerations Let’s review some basics. The top individual federal income tax rate is currently 37%. […]

Despite carefully running your business, you will most likely run into customer disputes at one time or another. You can protect your business’s reputation and even strengthen its brand by creating and maintaining an effective customer dispute resolution process that includes eight key features. Some of the complaints may be people looking to negotiate a […]

Taking a hobby and turning it into a regular business is a dream for many. You probably won’t have any tax headaches if your new business is profitable over a certain period of time. But what if the new enterprise consistently generates losses (your deductions exceed income) and you claim them on your tax return?