Now more than ever the issue of pay equity is being called out for businesses. As a business it is important to fully understand what pay equity is and thoroughly respond to it to make sure your practices are aligned. First, fully understanding what pay equity is and whether and how it’s played out at […]

You may breath a huge sigh of relief once your taxes are filed for the year, but some other questions may start to linger. We’ve answered the top three questions we tend to receive around this time to save you the headspace. When will your refund arrive? The IRS has an online tool that can […]

Business losses can happen whether you are a new business or it’s just been a tough year, but if/when they do, these losses may help you in future years to relieve some of your tax burden. The federal tax code allows businesses to apply prior year losses to offset taxable income in future years, subject […]

Every business owner wants to see a good accounts receivable turnover, but it’s not always easy. Collections can be particularly challenging for business-to-business (B2B) operations, which often find themselves in complex relationships with key customers that aren’t quite as simple as “pay up or hit the road.” Here are six tried-and-true strategies for increasing your […]

ATTENTION all taxpayers that itemize on their individual income tax return: The IRS recently issued some frequently asked questions addressing when certain costs are qualified medical expenses for federal income tax purposes. Basic rules and IRS clarifications You can claim an itemized deduction for qualified medical expenses that exceed 7.5% of your adjusted gross income. […]

Two things are true in todays society: it’s hard to find good help and no one likes to be in debt. Offering an education assistance program could be the answer. An education assistance program allows employees to continue learning and perhaps earn a degree with financial assistance from their employers. It’s a way to keep […]

Inflation has been a hot topic in the news for months, which has caused growing concerns within the business industry. Most business owners are keeping a close eye on costs. Costs that are related to mission-critical functions such as overhead and materials can be difficult to control. However, you might find some budge room in […]

If you’re a crypto investor or user, you may soon notice a new form reporting requirements for digital assets. Checking the box Beginning in the 2022 tax year, taxpayers must check a box on their tax returns indicating whether they have received digital assets as a reward, award or payment for property or services, or […]

There’s a tax advantage if you take money out of a C corporation as compensation, rather than as dividends. The reason behind this is a corporation can deduct the salaries and bonuses that it pays executives, but not dividend payments. There are limits to how much money you can take out of the corporation. Furthermore, […]

Many leadership teams and owners in the business world participate in regular strategic planning to improve their business in a positive way. However, no matter how sound a set of strategic objectives might be, it’s always important to bear in mind that your competitors have plans of their own. That’s why you should consider integrating […]