Throughout the year we get many inquiries on annual changes in tax laws. This post is a summary of the more frequently asked questions around tax laws in a rapid-fire format. IRS Mileage Rate First will be the IRS standard mileage rate for reimbursement. This would typically be how much a business reimburses employees if
Category Archives: Advisory
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Jul
Jul
Clients ask accountants quite often questions around the condition of their numbers. Business owners want to know what their financial statements are saying. There is a desire to understand what is going on with their business numerically, and how to make decisions based around that. Are my numbers good or bad? Do I need to
Advisory, Advisory|Tax, Strategic Guidance|Tax, Tax
What does pass-through entity tax mean for my small business?
30
Jun
Jun
You may recall before the 2017 Tax Cut and Jobs Act, you were able to deduct your state and local taxes on your individual tax return. The 2017 Tax Cut and Jobs Act imposed a deduction limit of $10,000 of state and local taxes on your personal tax return. This has been referred to as
Advisory, Advisory|Strategic Guidance|Uncategorized, Advisory|Strategic Guidance|Value Building, Advisory|Tax, Strategic Guidance|Tax, Tax, Uncategorized
What do changes in depreciation rules mean for me in 2022-2023?
15
Jun
Jun
Most taxpayers have gotten very used to taking 100% bonus depreciation. Most of the time, people have been getting used to taking 100% bonus and writing off whatever they’re spending on capEx. This has been the case since the Tax Cuts and Jobs Act in 2017 – the Trump tax cuts. You may be thinking
03
Feb
Feb
Business plans are not only for those just setting out on their journey in the marketplace. They are useful when acquiring a new business, forecasting growth, introducing a new product or service, entering a new market, responding to changes in the market or changing a significant aspect of your business. And like any other map,
03
Feb
Feb
The most effective way to manage receivables in your business is to put into place a system that allows management the ability to: Provide credit to eligible customers only Keep track of receivables in a timely manner Trigger follow-up calls/emails/letters for reminders/past due/legal action and Trigger when management intervention or legal recourse becomes the next
03
Feb
Feb
Many small business owners are entrepreneurs who are passionate creators that had an idea for a product or service, but they don’t always possess financial acumen. As a result, some business owners make financial mistakes which can jeopardize their dreams. Here are four of the most common mistakes and how business owners can avoid them.
03
Feb
Feb
What’s the difference between water and steam? At 99 degrees water is merely hot, at 100 degrees it turns to steam and can move locomotives. Just one degree—a one per cent change—makes the difference. This is a great metaphor for business. In this short article we look at the impact that small improvements in the
03
Feb
Feb
Strategic planning is important for your business because it provides a sense of direction and outlines measurable goals to keep you and your business on track. In order to make the most of strategic planning, your business should give careful thought to the goals it outlines and then back up these goals with realistic measures
Many business owners know that they need more sales, better cash flow and higher profits, but they don’t know what drives those results or necessarily the quickest path to get there. My assessment is that you need to know what matters in order to achieve you goals timely. Your sales typically come from two areas:
