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Can a PTO contribution arrangement help your employees and your business?
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Can a PTO contribution arrangement help your employees and your business?

As the year winds to a close, most businesses see employees taking a lot of vacation time. After all, it’s the holiday season, and workers want to enjoy it. But some businesses find themselves particularly short-staffed because they don’t allow unused paid time off (PTO) to be rolled over to the new year. There are good business reasons to limit rollovers. Fortunately, there’s a way...

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13 Dec 2018
Family businesses need succession plans, too
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Family businesses need succession plans, too

Those who run family-owned businesses often underestimate the need for a succession plan. But you can’t assume an ownership transition will go smoothly just because everyone involved is family. Some family members may want to continue with the business; others may want to sell it. A thorough succession plan will answer questions about future ownership and any potential sale so successors don’t have to scramble...

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06 Dec 2018
When holiday gifts and parties are deductible or taxable
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When holiday gifts and parties are deductible or taxable

It’s a great time of year for businesses to show their appreciation for employees and customers by giving them gifts or hosting holiday parties. Gifts to customers are generally deductible up to $25 per recipient per year. De minimis, noncash gifts to employees aren’t included in their taxable income yet are still deductible by you. Holiday parties are fully deductible provided they’re primarily for the...

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30 Nov 2018
Tax reform expands availability of cash accounting
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Tax reform expands availability of cash accounting

The cash method of accounting offers greater tax-planning flexibility, allowing some businesses to defer taxable income. Under the TCJA, if your business’s average gross receipts for the previous three tax years are $25 million or less, you generally will now be eligible for the cash method for federal tax purposes, regardless of how your business is structured, your industry or whether you have inventories. Newly...

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21 Nov 2018
3 ways to get more from your marketing dollars
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3 ways to get more from your marketing dollars

In a strong economy, some companies cut back on marketing while others overspend on it. A better approach is to get more from your investment so you can cut back or ramp up as prudent. Start with digital marketing: Use search engine optimization, social media and Internet-only deals to improve customer focus. And don’t assume you’re at the mercy of high advertising rates; exploit competition...

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14 Nov 2018
Taking the hybrid approach to cloud computing
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Taking the hybrid approach to cloud computing

Many businesses struggle to decide whether to use a public cloud computing solution or invest in a private cloud. Why not both? Under the hybrid approach, a company sets up an infrastructure that uses a public cloud for accessing apps and storing less sensitive data while relying on one or more private clouds to store and protect confidential data. Going this route may be effective,...

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07 Nov 2018
Research credit available to some businesses for the first time
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Research credit available to some businesses for the first time

The TCJA didn’t change the research credit, but it has an impact on the credit. Previously, corporations subject to alternative minimum tax (AMT) couldn’t offset the research credit against AMT liability, which erased the credit’s current benefits. By eliminating corporate AMT, the TCJA removed this obstacle. Pass-through businesses can still claim the credit against AMT if their average gross receipts are $50 million or less....

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31 Oct 2018
Reduce insurance costs by encouraging employee wellness
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Reduce insurance costs by encouraging employee wellness

The safer your workplace, the less likely you’ll incur high workers’ compensation premiums. But think about the impact of employee wellness on other insurance costs, too. From a physical well-being standpoint, a formal wellness program can encourage healthier life choices and thereby reduce health coverage costs. In terms of mental health, providing the right training and offering an employee assistance program can create a more...

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24 Oct 2018
Now’s the time to review your business expenses
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Now’s the time to review your business expenses

As we approach the end of the year, it’s a good idea to review your business’s expenses for deductibility. At the same time, consider whether you’d benefit from accelerating certain expenses into this year. There’s no master list of deductible business expenses in the Internal Revenue Code (IRC). Some deductions are expressly authorized or excluded, but most are governed by the general rule of IRC...

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17 Oct 2018
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