Beware of Overly Optimistic Projections Used to Value a Business
Business valuation experts often rely on prospective financial statements when applying the discounted cash flow (DCF) method to value a private business interest. […]
Drive Down Your Business Taxes with Local Transportation Cost Deductions
Understanding how to deduct transportation costs could significantly reduce the tax burden on your small business. You and your employees likely incur various local transportation expenses each […]
Senior Tax-Saving Alert: Make Charitable Donations from your IRA
If you’ve reached age 70½, you can make cash donations directly from your IRA to IRS-approved charities. These qualified charitable distributions (QCDs) may help you gain tax […]
Healthy Savings: How Tax-Smart HSAs Can Benefit your Small Business and Employees
As a small business owner, managing health care costs for yourself and your employees can be challenging. One effective tool to consider adding is a Health Savings […]
Know the Risks Before Outsourcing Business to Contractors
If your business is particularly busy, you may temporarily outsource some of its work to third-party contractors. Hiring contractors can be a cost-effective […]
When Can You Deduct Business Meals and Entertainment?
You’re not alone if you’re confused about the federal tax treatment of business-related meal and entertainment expenses. The rules have changed in recent years. Let’s take a […]
How Inflation Will Affect Your 2024 and 2025 Tax Bills
Inflation can have a significant impact on federal tax breaks. While recent inflation has come down since its peak in 2022, some tax […]
Don’t Overlook the Cost Approach When Valuing a Private Business
There are three commonly accepted techniques for valuing a closely held business: the cost (or asset-based) approach, the market approach and the income […]
Get Tax Breaks for Energy-Saving Purchases This Year Because They May Disappear
The Inflation Reduction Act (IRA), enacted in 2022, created several tax credits aimed at promoting clean energy. You may want to take advantage of them before it’s […]
Self-Employment Tax: A Refresher on How it Works
If you own a growing, unincorporated small business, you may be concerned about high self-employment (SE) tax bills. The SE tax is how Social Security and Medicare […]
