Many businesses today have their own websites. Despite their prevalence, the IRS has not provided formal guidelines on specifically how or when website costs can be deducted. However, there are established general rules. Here are some answers to questions you may have. Regarding the deductibility of business expenses that can help business taxpayers launching a […]

When a company’s leadership team meets to discuss strategic planning, they might feel pressured to play it safe. Relying on existing strengths and opting for gradual, measured growth are commonly seen as cautious paths to success. But substantial growth — and, in some industries, just staying competitive — calls for innovation. That’s why, as your […]

Perhaps you purchased some Series EE bonds many years ago and put them in a file cabinet or safe deposit box. Or maybe you bought them electronically and don’t think about them often. You may wonder: How is the interest you earn on EE bonds taxed? And if they reach final maturity, what steps do […]

Although there have been improvements in various sectors of the economy over the past year, challenges like the rising cost of living continue to force some businesses to shut down. If you’re facing the possibility of closing your business, we can assist with navigating the complex tax implications involved. To start with, a business needs […]

It is not easy to own and operate a business. You wait for strategies to play out. You wait for materials, supplies or equipment to arrive. You wait for key positions to be filled. But, when it comes to sales, how patient should you be? A widely used metric called “sales velocity” can help you […]

There are a number of difficulties presented with a divorce, and taxes are probably the farthest thing from your mind. However, several tax concerns may need to be addressed to ensure that taxes are kept to a minimum and that important tax-related decisions are properly made. Here are six issues to be aware of if […]

If you are considering buying a business that will have one or more co-owners or if you currently own one fitting that description, you may need to consider installing a buy-sell agreement. A well-drafted agreement can do these valuable things: Transform your business ownership interest into a more liquid asset, Prevent unwanted ownership changes, and […]

Effective cost control is essential for every business, but the strategies and priorities can evolve based on economic conditions and operational challenges. In this article, we delve into practical strategies and metrics that businesses can leverage to effectively control costs and achieve long-term growth. A recent report from the Boston Consulting Group highlighted the ongoing […]

With the current federal estate tax exemption soaring to $13.61 million in 2024, many individuals may feel reassured that their estates will escape estate taxes altogether. This significant increase has shifted the focus of estate planning discussions towards income tax considerations for heirs. While estate tax concerns may seem less pressing, it’s crucial to recognize […]

Understanding the tax implications when selling property used in your trade or business is crucial for navigating the complexities of tax law. No matter what you’re considering selling, the rules governing these transactions are multifaceted and can significantly impact your tax liability. In this discussion, for simplicities sake, we’ll assume that the property you want […]