Wouldn’t it be great if your employees worked as if they owned part of the company? An employee stock ownership plan (ESOP) could make that a reality. Under an ESOP, employee participants gain partial ownership of the business through a...
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Now is a good time to consider year-end moves that can help reduce your business’s 2024 taxes. The effectiveness of a particular action depends on the circumstances of your business. Here are several tax-saving possibilities. Time Income and...
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While the use of paper checks has greatly diminished, thieves still view them as a source for stealing revenue. In fact, the Financial Crimes Enforcement Network warns that many thieves are returning to old-fashioned financial theft, using paper...
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If you’ve recently started a business – or are thinking about starting a business – you should know that as an owner, all eligible costs incurred before you began operating the business are treated as capital expenditures.
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Several end-of-year tax planning strategies are available to business owners that can be used to reduce their tax liability.
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A recent Tax Court case outlined a situation we see quite often with our clients. In this case, the taxpayer was the sole shareholder of a professional association (taxed as a corporation) which performed medical services. He, himself was a...
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The IRS Has Its Eye On Executive Compensation A recent court decision demonstrates once again that the IRS is examining executive compensation with a critical eye and companies with potentially excessive comp packages had better be prepared to...
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The Tax Relief And Job Creation Act Passed on December 17, 2010 After much debate over whether to extend the Bush-era tax cuts for all taxpayers, congress finally passed and the president signed, the Tax Relief and Job Creation Act of 2010 (the...
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Small Business Jobs Act Passed in September 2010 In September, 2010, Congress passed and the President signed into law the 2010 Small Business Jobs Act (Act). The Act is intended to boost business spending and provide jobs by offering tax breaks...
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