Income Shifting Strategies to Help Business Owners Become More Tax Efficient

This segment discusses different strategies that can potentially help a business owner become more tax efficient. Some methods include the restructuring of a business...

Family Business: Partnership Mergers

In any successful family business there will likely come a time when descendants will want to take over the business from the older generation...

Top Tax Write-Offs That Could Get You in Trouble with the IRS

From travel expenses to paying wages to family members, there's no limit to what people will try to write off at tax time for the sake of their business. But where do you draw the line? Which write-offs you're trying to write off go too far?

Good Accounting is so Important

Great accounting is so important for each and every business, but too many are lacking in this area. Most use standard income statements and balance sheets, but there is so much more information business owners need that is not available in these basic financial statements.

Business Licensing Tax Implications

Becoming a licensed business is an important step that every startup must take when it comes time to sell a product or service. Here are a few ways that obtaining a license will impact your business.

How to Manage and Pay Tipped Employees in Restaurants

In the restaurant industry, tips are more than something you’d associate with a homespun tip jar by the cash register—they’re a primary source of...

Why You Shouldn’t Do Your Own Bookkeeping

Having to deal with bookkeeping matters will mean that your focus will be pulled away from more important things like acquiring new customers and getting your company name out there.

Small and Home Businesses Commonly Overlook These Deductions

Most small business owners are so busy managing their everyday businesses, that when tax season rolls around they just want to get the dreaded...

My CPA Should Have Told Me That!

CPA's provide a valuable service. However, you can't expect them to read your mind, tell you what is wrong with your business, or give you opinions about your business. Some are great business consultants along with their tax knowledge.

Businesses Should Prepare for Internet Tax Law

The U.S. Senate has passed the Marketplace Fairness Act of 2013, and it is currently under consideration in the House of Representatives. Most analysts feel confident that some version of the law will pass although it isn't yet clear what changes might be made.

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