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 [...]
The 21st Century Cures Act, a new law signed late in 2016 that helps fund medical research, also provides a cure for the health insurance woes of small employers. Under this legislation, your small business may now offer stand-alone Health Reimbursement Arrangements (HRAs) for your employees. An HRA is a special account used to pay [...]
With weather-related disasters making the news these days, emergency preparedness may be front of mind. You probably have tools to cope with a flat tire, or a hurricane lantern or candles for times when the electricity to your home is interrupted. But have you considered what records you might need if your wallet was stolen? [...]
Do you have the right insurance for your business? Here's a list of policies to consider. Liability insurance covers damages and defense for bodily injury, personal injury such as slander, and property damage to a third-party that is caused by you, your products, or your employees. Property insurance covers your building and personal property such [...]
Tax filing season officially begins this month. Did you know due dates for certain returns have been changed? Why are the dates changing? One reason is to bring due dates into a more logical order. For example, in prior years, if you were a partner in a partnership, you may have had to extend your [...]
Even the most dedicated small business owners eventually want to retire. But business succession planning can be tricky. If a transfer to an outside party isn't feasible, an alternative is to consider selling your business to your employees. How? One common approach is to transfer shares through an employee stock ownership plan (ESOP), a type [...]
When your business makes money, you pay income tax on the profit. What happens when your business deductions are greater than the income in a particular year? In that case, the result is what's called a net operating loss, or NOL, and you may be able to benefit from federal tax rules that allow you [...]
Rising business receivables can be a sign of a growing, prosperous company – or of troubles ahead. How can you know if your receivables are right-sized for your business? Start by breaking down the numbers. A report of your receivables listed by age will give you the information you need. Track the percentage of invoices [...]
Are you thinking of taking out a loan to buy new machinery or additional inventory for your business? Before you sign that loan document or credit application, consider the following questions. What's the true cost of borrowing? The interest rate on your business loan may be variable, fluctuating over the life of your loan. Calculate [...]
