Google, Facebook and Southwest Airlines are among the top five companies on job search site Indeed's "Best Places to Work for 2017" list. You may not have the resources of these large companies, but you can incorporate some of their ideas into your company's culture. Respect The best companies cultivate a culture of respect, according [...]
Hiring your child to work in your business can be a win-win situation for everyone. Your kids will earn money, gain real-life experience in the workplace, and learn what you do every day. And, you will reap a few tax benefits in the process. Before you decide if hiring your child is the right thing [...]
Most new businesses start with no thought about legal structure. In the eyes of the IRS, the default structure is a "sole proprietor," in which your business profits are taxed on your personal tax return. This can serve you well to start, but there are several reasons you may want to consider incorporating as your [...]
The word “audit” makes most of us uncomfortable. But by using auditing principles within your own business, you may quickly discover ways you can enhance your firm’s full-year performance. Here are some factors to consider. Prepare with a pre-audit. Perhaps the most obvious use of a self-audit comes to play as you prepare for a [...]
For handwritten taxpayers, preparing their tax return isn't the problem. It's the fear of an audit. Audits are fairly uncommon, but the IRS may notice your tax return if certain red flags are present. Here are some of the common audit red flags to help you prepare for the possibility of your return being reviewed. [...]
This past month at least 55 companies reported they had fallen victim to a new type of small business scam. The specialized phishing scheme involves a criminal masquerading as a real employee, often a key executive, and then duping unwitting employees to provide payment or secure files. The scam takes many forms. Here are a [...]
One of the biggest delays in filing your tax return is missing information. Make sure you don't miss some of these commonly overlooked items. Missing your e-file approval. Without your signature, your tax return cannot be filed. Proof of health insurance. You must provide a Form 1095 or other proof that you and your dependents [...]
Sometimes the tax deadline arrives and you are simply not ready to file. But, if you choose to file for an extension, don't make the mistake of not paying. Filing for an extension gives you more time to file, not more time to pay. If you owe taxes, they are due on the regular filing [...]
There are many things that come in pairs because they make sense – peanut butter and jelly, salt and pepper, shoes – the list goes on and on. Travel insurance for business travel is no different. There are inevitable changes to business travel or circumstances that arise while away from home. One way to protect [...]
If your eyes glaze over when you read the word "depreciation" you are not alone. While depreciation is simply deducting the cost of business equipment over time, special tax provisions allow flexibility in how much can be expensed in a given year. The first solution is the Section 179 deduction. You are able to write [...]
