M&A opportunities arise when a business adversely affected by economic circumstances decides that getting acquired by another company is the optimal — or only — way to remain viable. If you get the chance to acquire a distressed business, you might indeed be able to expand your company’s operational scope and grow its bottom line. […]

You may have recently begun receiving letters from the charities you donated to last year. Now you’re thinking, what do I do with this letter? What if I haven’t received such a letter, can I still claim a deduction for the gift on my 2021 income tax return? It depends. The requirements To prove a […]

So you’ve started your own business, or are planning to, and operate as a sole proprietor. You’ve got the business plan down, but what about taxes? Here are some important issues to consider regarding taxes: 1. You report income and expenses on Schedule C of Form 1040. The net income is taxable to you regardless […]

Are you an ALE (applicable large employer)? An ALE is a company with 50 or more full-time employees or full-time equivalents on average during the previous year. Since the Affordable Care Act was signed in 2010, ALEs carry added responsibilities under the law. What must be done First and foremost, ALEs are subject to Internal […]

While the rules for Traditional and Roth IRAs have changed many times, what hasn’t changed is the fact that they can help you save for retirement with potential tax benefits. Below is an overview of what you should know when thinking about opening an IRA or when making any contributions or distributions. Traditional IRAs You […]

As a business owner, you know you have to keep records of your income and expenses, but how much detail is the real question. Especially in regards to expenses as you want to be able to claim them as tax deductions. If you are ever audited by the IRS you want to make sure you […]

The most basic reports for a business, but also the most informative are your financial statements. Knowing how to read your financials and what they are telling you is key. Your financial statements can be a great resource to assist you in making optimal business decisions. Assuming you follow U.S. Generally Accepted Accounting Principles (GAAP) […]

For some, tax season can be the most stressful time of year—and this year’s tax season has arrived! The IRS began accepting 2021 individual tax returns on January 24. If you haven’t prepared yet for tax season, here are three quick tips to help speed processing and avoid hassles. Tip 1. Contact us soon for […]

Starting a new business is an exciting time but it can also be intimidating. It is no secret that the initial investment can be costly to get things up and running. Entrepreneurs are often unaware that many expenses incurred by start-ups can’t be deducted right away. Keep in mind that the way you handle some […]

Does your company sell it’s products or services primarily to other businesses? Then you understand the unique marketing challenges this can present to get your message out there. Use business-to-business (B2B) media to get your name and know-how out there. 3 common approaches B2B media, what we used to call “trade publications,” now encompasses a […]