What is value-based sales and how it could help your company?

Any good sales rep caters their sales approach to the customer. A common thought customers think to themselves in one way or the other when shopping is “how will this product benefit me?” Have you ever considered teaching your sales reps value-based sales? Under this method, sales reps act as sort of business consultants, working closely […]

Disaster victims may be eligible to claim a casualty loss deduction

If a natural disaster hits, it may destroy something in its path. Before the Tax Cuts and Jobs Act (TCJA), eligible casualty loss victims could claim a deduction on their tax returns. But currently, there are restrictions that make these deductions harder to take. What’s considered a casualty for tax purposes? It’s a sudden, unexpected […]

Be careful on what expenses you try to write off

If you want a fun read, try reading the Internal Revenue Code! The biggest twist to this read is that most business deductions aren’t specifically listed. For example, the tax law doesn’t explicitly state that you can deduct office supplies and certain other expenses. Some expenses are detailed in the tax code, but the general […]

What are the tax implications of winning money or valuable prizes?

With the recent legalization of sports betting in Kentucky, and many other states either having already or soon-to-be following suit, we wanted to give some reminders when it comes to gambling winnings. Always remember, there are tax consequences attached to your good fortunes! Winning at gambling For tax purposes, it doesn’t matter if you win […]

What businesses can expect from a green lease

One continuing subject in the national news is climate change and the events relating to it. As a business owner, relocating to a commercial property with a “green lease” might be a way to decrease your companies’ negative environmental impact. Increasing demand Green leases are sometimes also known as “aligned,” “energy-efficient” or “high-performance” leases. Whatever […]

Could you benefit from a Health Savings Account?

As health care costs rise, many people are looking for more cost-effective ways to pay for their expenses. One solution that is tax-favorable is a Health Savings Account (HSA). This allows eligible individuals (or an employer) to set aside funds to meet future medical needs. Below are four tax benefits of an HSA: Contributions made […]

Tax Factors of M&A Transactions

Lately, in many industries, there has been more and more merger and acquisitions. One of the most important things to take into account if you are considering a merger or acquisition of another business is how the transaction will be taxed. Stocks vs. assets From a tax standpoint, a transaction can basically be structured in […]

Strategic Planning Meetings: 4 best practices for an effective plan

It’s not uncommon for employees to grumble about having to attend too many meetings. Sometimes they have a fair complaint; an excessive number of meetings can become a problem at some companies. However, there’s one kind of meeting that business owners and their leadership teams should never take lightly: strategic planning. That doesn’t mean you […]