Blog
Should You Elect Out of the New Partnership Audit Rules?
The Bipartisan Budget Act signed into law in 2015 and effective for partnership returns filed for taxable years beginning after 2017 has significant impacts on partnership audits. Most notably that audit adjustments are to be recognized in the year an audit is...
The Business Checkup
No one starts a business hoping that it will fail, yet a quick check of business statistics shows that half of all businesses will. Large businesses have teams of experts who comb through complex reports to make decisions that affect hundreds of employees and ensure...
Starting Your Own Home-Based Business
The five questions you should consider before taking the plunge It’s been your dream for as long as you can remember. Maybe your entrepreneurial juices started to flow when you were a youngster and you opened a lemonade stand or you had a paper route. Perhaps the...
Tried and True Tax Moves
Even with the myriad of tax changes that went into effect for 2018, there are still a few go-to tax moves that everyone should make a priority in early 2019. Checking that the correct amount is being withheld from your paycheck in 2019 is a sure-fire way to be certain...
2019 Tax Planning Changes to Keep on Your Radar
While the 2018 tax filing deadline of Monday, April 15th will be here before we know it, it's important to be aware of several changes to the tax law that have gone into effect for 2019. Some were ushered in by legislation such as the Tax Cuts and Jobs Act, the 2016...
Incorporate or Not: What’s Best for Your Business?
As a new business owner, you may be wondering if you should incorporate your business. The greatest advantage of incorporating is that your legal liability is limited. Generally, responsibility for debts and other liabilities incurred by the corporation will be...
Six Tips To Hiring a Business Attorney
There is a Venn diagram on the back of my door. One circle has “what lawyers put in their biographies.” The other has “what clients look for in lawyer biographies.” In the intersecting area are only two things: email address and phone number. Below are some...
Opinion Piece – New Tax Law
In December, both houses of congress passed their version of tax reform, quite arguably the largest since the Tax Reform Act of 1986 passed during the Reagan Administration. On December 22, President Trump signed the version of the new law, known as the Tax Cuts and...
Don’t Ignore the Nanny Tax
Make sure you don’t overlook the nanny tax as you are reviewing your filing requirements for 2018. You could be liable to pay state and federal payroll taxes if you have a housekeeper or other household employee. How do you know if you must pay the nanny tax? A...
4 Smart Ways to Cut Business Costs
In today’s challenging business environment, keeping costs under control is crucial. While staff reduction is, without a doubt, one of the quickest ways for a business to cut costs it is not always the best cost-cutting strategy. Reduced productivity can stem from...